mstech, Yes, class action lawyers can be sleazy, but some times class actions are necessary to consolidate like cases. In our case we have many that have been damaged equally. Suing the government is no easy task. As Is aid before, I don't think we have much of a case on the actions of conservatorship itself. I think the caes we have is that our conservator is not acting in our best interest.
I hope you are right about the taxpayers being repaid in two years. I deal in fcats , and I also don't trust our government that is running $1 trillion dollar deficits to cut us any favors. All I see now is that if nothing changes there will still be an entry on the balance sheet showing the taxpayers still hold $188 billion in senior preferred shares combined in FnF. $188 bil is a lot for someone like a US Treasury secretary to say that is forgiven because you paid us $188 bil in dividends. Every action the Treasury and the FHFA has taken is like we do not exist. How do we know that in their minds they think that since FnF were insolvent, and would have not survived without taxpayer assistance, that FnF is now property of the US govt with a small footnote tat it still has shareholders on the book only because the US gove could not put us into receivership and crash the housing industry. You and I know is wrong but do they?
mstech, all I would like to see is some acknowledgement from the FHFA or the treasury that they shareholders are still the owners. Perhaps in one of these congressional hearings we could get just one representative to ask the Treasury secretary or the FHFA director what they see as out position or role in this situation. Don't you think it odd that 4 years out we don't know. They have been very careful in excluding us from all discussion.
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