Obit – After listening to Michael Capuano on CSPAN today as well as a podcast of some analysts from the Wall Street Journal, I gathered an uneasy feeling that the small investors/traders in this stock are not on the same page as the large hedge funds. This may not be the case for Ralph Nader, but the overall understanding I am learning is that the ultimate goal is to eliminate Fannie and Freddie. The court cases being brought by the hedge funds are not to necessarily save FnF or to get them out of conservatorship, but rather to fight the wholesale gathering of profits from when the rules were changed in 2012. It is starting to sound like the hedge funds are in a fight to gather billions in dividends that were illegally taken rather than to set FnF back as a solvent company. Their bet is, they either receive all the billions in past and current dividends, or they receive nothing. It sounds like we do not have a “heavy hitter” fighting for us. Even though Michael Capuano states very clearly that without FnF, even he could not have financed his home 35 years ago; however, he seems to lean towards the creation of something new instead of making changes with what we have. He blames FnF for using funds to invest in risky investments. This burns me the most. FnF are just companies. The Executives running FnF made risky investments. Put them in jail and leave the structure alone. Leave the thousands that FnF employ alone. Create regulation to prevent past problems in place, but why blow the entire system up to create something new that may or may not work for the middle class. That is, after all, what FnF was about. Making mortgages affordable for the middle class.
You seem to be very intelligent on this board. I would like to read what you think the main goal of these hedge funds are. Thanks for your time and for all the information you provide on this board.
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