I appreciate your responses. I honestly think the treasury has to align themselves with shareholders to get these recapped and released. GSEs on their own would have far better success in lawsuits than shareholders filing derivative claims.
Look at the preferred volume. 4x average daily volume. I can't catch a bid anywhere even when I hit the ask(yes went ahead and bought some more prefs to join my common weekly purchase). Common volume is definitely up as well Freddie more so than Fannie. Makes me wonder if there are hedge funds buying before court case is certified so they can receive damages and they'll sell once they are set to receive payment? Who knows, but it seems reasonable given for preferred shares the possible payment is anywhere from 20-40% of current price.
"The part I bolded says that Treasury may unwind the SPSPAs if any part is found to be illegal or unenforceable, but the unwinding is not at all automatic like you said"
So you bolded the part that says it's NOT ILLEGAL for the Treasury to write down or otherwise obliterate the SPS LP? Should we ask Calabria to put that quote in his book as an addendum?
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