I think one of the glaring issue is the so-called "policy" to wind down FnF, AFTER both were put under conservatorship - both wind-down and conservatorship are inherently incompatible. So it begs the question since WHEN did the term "wind-down" start floating from official statements? The answer to this question, in precise and meticulous manner woul go a long way in explaining #Fanniegate.
We need more information on the circumstances of this timeline, and what else were associated with the change in plan? The "what else" part, such as sequestration, Obamacare, etc., if proven with POTUS's internal "deliberations" at the time, then it would be game over.
Hopefully we will find out soon
Less than 2 weeks ago, the defendants filed a response about the government 'only" making 7.5% returns; then a week later, Fairholme's lawyer filed a detailed response on behalf of Perry. Since Hamish represents shareholders about damages, so I can see why the judges want to make sure what all the latest numbers mean.
Based on TH717's latest post, it appears that both Watt and Mayopoulos have been paving the road to end conservatorship. After all, FHFA needs "solid" evidence and data to show that FnF are again healthy, EXCEPT lacking capitals due to NWS.
How can it result in a "hung" panel? There are three judges; it only takes two to issue the majority ruling, correct?
I understand there are two parties involved in the "Perry" appeal: Perry (represented by Olson) claiming 3rd Amendment is illegal; shareholders class action suit (represented by Hamish) seeking compensation from overpayment to Treasury due to 3rd Amendment.
This is an indication that the judges are actively reviewing the case. At this point, they must have come to some kind of understanding and even ready to issue the ruling. They might just want to ensure some last-minute clarifications.
Good or bad sign?
This may or may not related. Holding FnF now is like holding real estate in good cities/areas, such as NYC/SF. When the price was depressed (911, Great Recession, etc.), it was a good time to get in, then hold for the long term. Invariably with past data, in at most 10 years, one would get his/her investments worth.
We are 8 years into conservatorship and 4 years to NWS. 2016 has been a banner year showing the tide finally changed. There will be very busy legal activities through the summer, so for the patriots we all will win in this battle, just give it time.
It's a great piece of analysis by Fiderer. Unless the Appeal Court judges played dumb and ignorance of the laws, Fiderer's should server as a reminder.
Agree. Just look at the volumes of the past few days, and PPS in a relatively narrow trading range. I am looking from now until the end of August. The Perry appeal court couldn't possibly drag its feet not making a ruling by then. Also, Mrs. Robinson's Kentucky case looks every bit biting. Then there's the Delaware case. Finally, Honorable Judge Sweeney couldn't possibly sit idle for another 2 1/2 months doing nothing.
Maybe that'd be the case, but neither you nor I am a legal expert. There appears more that meets the eye from various courts/judges if we have learned anything in the past 2-3 years. The legal process is slow (just look at the Stanford sexual assault case, which happened in January 2015 but only made news in the past few days because of the sentencing - 1 1/2 damn years!).
If you have faith and long on FnF, you should sense a turning point this year and now. How long will it take to get to the full 3R? I wouldn't be surprised for another 1-3 years, if not longer.
On the other hand, there IS a deadline of January 2018 when the NWS calls for zero capital for FnF. Obama made a deal with the devil (TBTF banks, and GOP in Congress) to keep his Obamacare alive, he won't give it up until courts order him to do so.
It could be an entirely different ballgame if #Fanniegate is eventually linked (with proof, of course) to provide a lifeline to Obamacare.
Reportedly, an MDL (for consolidation of multiple district lawsuits) decision should be in 1-3 weeks timeframe. Also, Perry's appeal ruling allegedly will be coming at any time now. They all play to one another. As long as the rulings are consistent condemning the government's deceptions and illegal activities, it will be good for the PPS.
With NWS and conservatorship as current status, both SEC and market need a clear path forward for FnF. As such, BOTH NWS AND conservatorship have to end. How is subject to debate. When that happens, institution investors such as pension funds will come back in stroll.
Fellow FnF Patriots, go watch "Under the Gun" - a new documentary by Katie Couric. You can find so many similarities between NRA and players associated with #FannieGate, using scare/fear tactics and lies for the benefits of the few at the cost of people of this country.
They know exactly what they are doing. Otherwise, it could've have been perfectly polar opposite to reality. Go watch "Under the Gun", a new documentary by Katie Couric. There are plenty of similarities between NRA and the players in #FannieGate, using scare/fear tactics, and completely bought of politicians. It is free from EPIX!