Bradford, since you’re answering questions, how do derivative claims settle in the CFC? If they don’t settle isn’t there a good chance we’re going back to Scotus? How do you raise capital if the CFC is still in full play?
Since the CFC is derivative that includes both common and preferred holders, what would make the CFC litigants settle?
1) I worked for 44 years before retiring. I am familiar with warrants. Warrants issued at 100,000 shares for a single dollar are illegal when the previous day the shares sold for $7.04 and $5.10. A conservator's primary duty is preserving and conserving his wards' assets. The exercise of the warrants will net the corporations $70,600. At fair value, the warrants would have brought in $45.8 billion. Compare the two numbers. $70,600 vs $45.8 billion. Their exercise will be challenged. Brandon Fisher has said he will. So will I. And an army of shareholders. Quite a few here have said they would.
2) I have given you citations in the past. A lawyer on Seeking Alpha has told you the same thing. Tolling begins either the day SCOTUS says shareholders can file lawsuits when in conservatorship, or the day conservatorship ends. Whichever comes first. Google will give you numerous citations Here's one:
3) I have calculated how much the buyback would cost Fannie and Freddie. It's a moving target. But definitely less than the overpayment after principal and 10% dividend.
BTW, why did you delete my posts on Seeking Alpha questioning the legality of the warrants?
Spineless dickwad is the term used by the poster who did not want us to question you. Read my post again.
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