I read that piece. Nice one. Gary has been buying distressed stock since I was a young child. (40 years ) I hope that he is correct that preferred ultimately get redemption value. It’s embedded in the contracts that we have rights to that at a minimum.
Another good piece by the honorable Gary Hindes. All the plaintiffs needed to do was put that written piece in the court documents and the judges would have understood. Instead they decided on overpaid and incompetent lawyers writing a bunch of legal junk that was designed to confuse the judges.
One issue with the piece though is that nationalizing them would be adding 6 trillion to the national debt. The accountants can develop all sorts of rules to not put that on the national debt.
When FHFA put Fannie Mae and Freddie Mac in conservatorship, CBO (after consulting with the House and Senate Budget Committees) began treating the GSEs as government entities in its budget estimates.
Market Data 
Markets 
AI
