FNMA and FMCC preferreds. In search of the elusive 10 bagger.

[waynepolsonAtoZ]

Each circuit panel is supposed to take a "fresh look," I forget what the latin term is.

 

I think more discovery coming to light is better than less.

[Guest cherzeca]

Each circuit panel is supposed to take a "fresh look," I forget what the latin term is.

 

I think more discovery coming to light is better than less.

 

Oral argument in Robinson is 7/27. Cooper should make an emergency filing referencing these docs. Don't see how it could hurt.

[hardincap]

Maybe 2 out of three judges on one of the panels will agree with Judge Brown.

 

i wouldn't count on it. brown is ultra ayn rand level conservative, something of a dying breed. in her own words, "there are so few true conservatives left in America that we probably should be included on the endangered species list. That would serve two purposes: Demonstrating the great compassion of our government and relegating us to some remote wetlands habitat where — out of sight and out of mind — we will cease being a dissonance in collectivist concerto of the liberal body politic."

[waynepolsonAtoZ]

Good point.

[waynepolsonAtoZ]

Have the three judges in Robinson been identified by name?

[rros]

good article

 

http://www.mortgagenewsdaily.com/07252017_gse_conservatorship.asp

[Guest cherzeca]

Have the three judges in Robinson been identified by name?

 

Yes. Three women appointed by a bush

[waynepolsonAtoZ]

Four women seem to fit the criteria. Batchelder, Smith Gibbons, Cook, and White. Batchelder was the Chief Judge until she turned 70. She is classified as a judge rather than a senior judge for some reason.

 

Gibbons sounds ok.

 

Cook had a shot at being appointed to SCOTUS, but wasn't. She sounds ok.

 

White was originally nominated by Clinton, but was approved during the Bush Administration, she sounds like a D to me.

 

 

 

 

[Luke 532]

Rosner and Bove were both on CNBC again just a few minutes ago.  They did an amazing job and the host let them speak freely for a few minutes. 

[waynepolsonAtoZ]

LINK

 

http://www.cnbc.com/video/2017/07/25/unsealed-documents-show-fannie-freddit-bailout-details.html?play=1

 

[DocSnowball]

Does this guy even have a school degree? Writes 'bad sunburn' ? Pathetic reporting.

 

http://www.breitbart.com/economics/2017/07/25/fannie-secrets/

 

lol this guy

 

This one is much better written!

https://finance.yahoo.com/news/fannie-mae-freddie-mac-privatized-164500868.html?.tsrc=applewf

[DocSnowball]

LINK

 

http://www.cnbc.com/video/2017/07/25/unsealed-documents-show-fannie-freddit-bailout-details.html?play=1

 

Really well done - waiting to see what the official response from FHFA and Treasury will be, if any. Until we know how this will end, it's all speculation

[SnarkyPuppy]

Wonder why Fox has stayed silent on this after previously alluding to (and even tweeting the hashtag) "fanniegate"

[waynepolsonAtoZ]

It's good. I also watched their appearance on Monday, when the "assigned topic" was FnF lending to the Blackrock's of the world to buy up single family homes as rental properties. Bove and Rosner tried to talk about the "discovery documents" as much as they could, but the CNBC folk tried to keep them on the assigned topic.

 

Anyway, it was good that they got to come back today.

[SnarkyPuppy]

Mnuchin today - brief but mentions FNMA, housing reform, allowing community banks to keep mortgages on their books / not forcing securitization

 

~31min mark

https://www.c-span.org/video/?431638-1/treasury-secretary-says-lackluster-growth-debt-biggest-threat-economy&vod

[Fat Pitch]

After looking at the docs, I think shareholders may have enough to make the gov't question their legal strategy in the courts. All it takes is one win to unravel all of it.

[Mephistopheles]

After looking at the docs, I think shareholders may have enough to make the gov't question their legal strategy in the courts. All it takes is one win to unravel all of it.

 

I used to believe in the "all it takes is one" theory but it's clear all of these courts just want to follow each other and the DC opinion specifically. Maybe these docs make a difference but so far nothing has made a difference, and we've lost case after case. Just my humble non legal opinion. The only case that's giving me hope is Sweeney's but that seems to be moving at a snails pace.

 

I still own prefs but have minimized my position.

[Fat Pitch]

I think the same way. After reading a statement by a treasury official saying "We need to remove the capital so the markets don't get the impression these entities are healthy" might be enough to push things shareholders way. I don't think Gov't want to risk this going to US Supreme Court.

 

 

After looking at the docs, I think shareholders may have enough to make the gov't question their legal strategy in the courts. All it takes is one win to unravel all of it.

 

I used to believe in the "all it takes is one" theory but it's clear all of these courts just want to follow each other and the DC opinion specifically. Maybe these docs make a difference but so far nothing has made a difference, and we've lost case after case. Just my humble non legal opinion. The only case that's giving me hope is Sweeney's but that seems to be moving at a snails pace.

 

I still own prefs but have minimized my position.

[waynepolsonAtoZ]

God Bless Matt Taibbi.

 

http://www.rollingstone.com/politics/features/taibbi-government-misled-public-on-fanniefreddie-takeover-w494007

 

My only complaint is that he didn't use the phrase "vampire squid."

[rros]

I think the same way. After reading a statement by a treasury official saying "We need to remove the capital so the markets don't get the impression these entities are healthy" might be enough to push things shareholders way. I don't think Gov't want to risk this going to US Supreme Court.

 

 

After looking at the docs, I think shareholders may have enough to make the gov't question their legal strategy in the courts. All it takes is one win to unravel all of it.

I used to believe in the "all it takes is one" theory but it's clear all of these courts just want to follow each other and the DC opinion specifically. Maybe these docs make a difference but so far nothing has made a difference, and we've lost case after case. Just my humble non legal opinion. The only case that's giving me hope is Sweeney's but that seems to be moving at a snails pace.

 

I still own prefs but have minimized my position.

Re "We need to remove the capital so the markets don't get the impression these entities are healthy"

 

As we know, anything can be interpreted in any way. Just like that case of a sign post on a highway where the keyword subject to interpretation (or misinterpretation) was "or". The appeal's court put an end to that one with the statement "or means or" (from the Oxford Dictionary of English).

 

In the above case, all you need to add for a bingo are 4 more words:

"We need to remove the capital so the markets don't get the impression these entities are healthy. Because they are not."

 

... and some judge somewhere will agree with the government that winding them down was the right decision is spite of HERA. If the government does it, it is not illegal. lol

[Fat Pitch]

Right and then the follow up is so gov't intention was liquidation from the start. That triggers liquidation preference and then we tally up how much the gov't received and see if anything left over remains for jr prefs under the original bailout. There is tangible equity left over for jrs.

 

The docs might be enough to show c-ship was just r-ship this whole time and our claims hold up.

 

I think the same way. After reading a statement by a treasury official saying "We need to remove the capital so the markets don't get the impression these entities are healthy" might be enough to push things shareholders way. I don't think Gov't want to risk this going to US Supreme Court.

 

 

After looking at the docs, I think shareholders may have enough to make the gov't question their legal strategy in the courts. All it takes is one win to unravel all of it.

I used to believe in the "all it takes is one" theory but it's clear all of these courts just want to follow each other and the DC opinion specifically. Maybe these docs make a difference but so far nothing has made a difference, and we've lost case after case. Just my humble non legal opinion. The only case that's giving me hope is Sweeney's but that seems to be moving at a snails pace.

 

I still own prefs but have minimized my position.

Re "We need to remove the capital so the markets don't get the impression these entities are healthy"

 

As we know, anything can be interpreted in any way. Just like that case of a sign post on a highway where the keyword subject to interpretation (or misinterpretation) was "or". The appeal's court put an end to that one with the statement "or means or" (from the Oxford Dictionary of English).

 

In the above case, all you need to add for a bingo are 4 more words:

"We need to remove the capital so the markets don't get the impression these entities are healthy. Because they are not."

 

... and some judge somewhere will agree with the government that winding them down was the right decision is spite of HERA. If the government does it, it is not illegal. lol

[waynepolsonAtoZ]

I'd also like to draw attention to this document.

 

http://fanniefreddiesecrets.org/wp-content/uploads/2017/07/FHFA00056237_CLEAN.pdf

[hardincap]

http://www.valueplays.net/2017/07/26/carney-tries-and-fails-to-claim-the-nyt-and-rolling-stone-smeared-ugoletti/

 

ed demarco did not flea to ecuador, he's in the states leading FSR

 

sometimes you have to tune out loonies on both sides

[TwoCitiesCapital]

I find it interesting that Bloomberg has not published a single article on this. If I wasn't a member of this forum, I probably wouldn't even be aware of this news :/

[Packer16]

Bloomberg has become a anti-Trump political news organization with more opinion than facts in its reporting with out stating which is which.  This is sad for a formerly fact based news organization.

 

Packer