Recent

% | $
Quotes you view appear here for quick access.

Валгрин Ко. Message Board

big.yank 516 posts  |  Last Activity: 3 hours ago Member since: Jul 28, 2010
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • You obviously don't grasp the reason why Mel Watt absolutely cannot release Fannie without triggering an imminent default crisis. FNMA has 1.16 B outstanding shares and generated a per share profit of $.34for Q3. It's prognosis for Q4 is $.45 and for all of FY16 @ $1.80, flat with Q4/FY15. This puts margin projections for the entire 2016 fiscal year @ $2.088 B. That's all there is.

    So let's look at the first thing Watt would trigger by releasing Fannie. That would be the restoration of preferred dividends that have been suspended since 2008. That amounts to $972 M per year, or about 50% of FNMA's generated profits as expected for 2016.

    Maybe that gives you a warm and fuzzy feeling about Fannie's ability to weather another downturn, but it doesn't do much for me.

    JMHO.

  • Reply to

    Today will be .....

    by logical32 Feb 5, 2016 8:55 AM
    big.yank big.yank Feb 5, 2016 10:07 AM Flag

    Yup, you are right. There is nothing worse than some Monday-morning quarterback loudly declaring how he had all the answers when what he really had was 20/20 hindsight. Reminds me of forensic accounting analyses and Tim Howard's just-prepared amicus briefs.

    You used precisely the right word, too: "imbeciles". Kudos.

    JMHO.

  • big.yank big.yank Feb 4, 2016 3:07 PM Flag

    So you, too, like gary0barnes think that TJ is an appropriate spiritual guide and moral compass for all our children and grandchildren who should live their lives in multi-partner sexual escapades and procreate secret off-spring whose sustaining families get disavowed and treated like lepers by their patriarch?

    Wow. Shot up a Planned Parenthood Clinic recently?

  • big.yank big.yank Feb 4, 2016 2:39 PM Flag

    A better question is why none of them had the courage or conviction to stand up and fight. They were the authority in the mortgage finance arena. They were among the highest paid executives in the financial sector. How come they couldn't see coming what The Big Short portrays as a common epiphany among the financial glitterati that a housing and credit collapse was coming.

    And if Treasury was contemplating some sort of takedown in early 2008, was it because of some ulterior motive to destroy the GSEs as some infer, or was it because they could see the handwriting on the wall while Nero fiddled in the grandiose Fannie headquarters estate and collected their bonuses?

    Who knows? I don't think it is any former Fannie CFO with possible tracks to cover. Let's just see how the questions eventually get answered in court.

    JMHO.

  • big.yank big.yank Feb 4, 2016 2:30 PM Flag

    Thomas Jefferson owned slaves, slept with the help and fathered out-of-wedlock love children in adulterous affairs that disgraced his family. He was an amazing man, alright. Lots of good. Lots of bad. No paragon of virtue, he.

  • Reply to

    Message Board Pumpers LIE.

    by a_wallstreet_fraud_alert Feb 3, 2016 8:56 PM
    big.yank big.yank Feb 4, 2016 9:55 AM Flag

    All information, regardless of its orientation, should be welcomed by investors with any skin in this game.

  • big.yank big.yank Feb 3, 2016 8:14 PM Flag

    The conservatorship was in 2008. Remember? DeWine's testimony was regarding the need (or alleged lack, thereof) for the government takeover.

    You are an absolute IDIOT for your stupid comments.

  • Former Ohio Senator and Attorney General Mike Dewine testified before ranking member Rep. Michael Capuano and the Congressional Oversight and Investigations Committee on FEB 15, 2011. It paints a radically different opinion than the amicus brief written by Timothy Howard.

    I think Dewine NAILED IT!

    Read the full pdf of his testimony. Link posted on investorshub this morning, or search it on Bing under: Mike Dewine Full Congressional Testimony. The truth will set you free!

    JMHO.

  • Reply to

    know the news before it becomes news malaka

    by greek.island Feb 3, 2016 3:52 PM
    big.yank big.yank Feb 3, 2016 3:55 PM Flag

    That's what Martha Stewart went to prison for doing.

    Oprah to you too, there, sheep-pounder.

    Regards to your significant other... baaaaaaaa bby.

  • big.yank big.yank Feb 3, 2016 11:53 AM Flag

    Maybe, maybe not such a great dude. Former Ohio Senator Mike Dewise doesn't seem to share your view, though, when he appeared before the House Subcommittee on Oversight and Investigations when he was Ohio's Attorney General at the time. His testimony on FEB 15, 2011 paints a starkly different picture of things. I linked it on investorshub, or it is widely archived on Bing under Mike Dewine Full House Testimony. Just bring up the full pdf file to enhance your understanding of his amicus brief.

    JMHO.

  • Reply to

    Forensic Accounting - The New Nostradamus

    by big.yank Jan 3, 2016 8:13 AM
    big.yank big.yank Feb 2, 2016 11:50 AM Flag

    Hey, guys, I think Zoltan the Magnificent just confirmed that predicting the future with absolute certainty is a lot harder to do than Monday-morning quarterbacking the past with a known outcome.

    Sheer genius, if you ask me.

    LOL.

  • Reply to

    Forensic Accounting - The New Nostradamus

    by big.yank Jan 3, 2016 8:13 AM
    big.yank big.yank Feb 2, 2016 11:00 AM Flag

    I guess the plaintiff's "forgot" about the Congressional Budget office report that concluded up to $400 billion would eventually be required to bail out Fannie and Freddie. It's all archived on a pdf file on the CBO's website. Use search criteria: "publication 41887".

  • big.yank big.yank Feb 2, 2016 7:50 AM Flag

    Actually, there is considerable doubt about the validity of the contention about reassignment of shareholder rights. Two points are noted for consideration. First, there is one opinion that under Delaware law that it may only be PREFERRED shares that have a restriction imposed on total assumption of benefit. Another side of the argument asserts that the same applies to both common and preferred shares.

    Second, there is considerable precedent that a company, in fact, has legal privilege to reassign shareholder equity to new classes of equity holders making large investments in the company's future. One example of this would be the frequent secondary share offerings that many companies use to generate capital. Another example which many of us on this board would be very familiar with would be Arcadia Resources, a publically traded healthcare stock that held patent rights to a medication adherence concept (later purchased by Walgreens) . Arcadia, that traded under KADR, got into financial difficulty and received huge initial support from Berry Bernstein's Janus Partners hedge fund. Then it restructured its total debt with Comerica Bank. Arcadia pledged 100% equity to Comerica to collateralize that loan. That represented all the equity of prior shareholders. When Arcadia defaulted on its loans, Comerica was given 100% of the equity in the company, common stock was cancelled, and Comerica wound down and/or sold all the assets for its exclusive benefit.

    I apologize for the length of the story, but I'm not sure how much info is still available on this story as it was several years ago. If a huge hedge fund like Janus Partners was unable to litigate a claim that is very similar to the action in Delaware, there is NO SLAM DUNK that MoeRon Steal will enjoy any greater success with Fanniegate.

    JMHO.

  • Reply to

    An Iowa vote for Carly is a vote for Fannie

    by big.yank Feb 1, 2016 4:21 PM
    big.yank big.yank Feb 1, 2016 5:19 PM Flag

    It's quite all right, Arnie. The thing about Carly is that she is the lone Republican that can truly "feel the burn" with her loose bowels. She has a "bad feeling" about her Fannie. Me too.

    LOL.

  • Carly Diarrhea. She's the only candidate with the real "poop" on the GSEs.

    Trump doesn't know ship.

    Carly is certain to wipe up, tonight. Just like FNMA's S/P today.

    Donald can rail on about Carly being a LOSER, but when she has diarrhea, Carly's stools are LOOSER. Right, sam?

    LOL.

  • big.yank big.yank Feb 1, 2016 12:20 PM Flag

    Well stated and fully truthful.

    Kdos.

  • Last quarter Freddie reported a loss and Fannie reported its earnings were halved.

    Anybody's Eight-Ball getting a conviction reading on numbers? Looks like any news from the legal front is on the backburner after Friday's status report dragging out multi-plaintiff discovery and Hindes/Jacobs left field foray into seeking a Supreme Court ruling on as yet court- uncontested transfer of preferred shareholder rights.

    JMHO.

  • big.yank big.yank Feb 1, 2016 10:38 AM Flag

    Snooze time. Could you possibly find something, ANYTHING with some content relevant to Fannie Mae?

    The debt ceiling crises both stemmed from Congress refusing to pay bills that they earlier authorized. The "announcement" you cite is nothing more than neo-political attempt at blame shifting away from the Republican led House who appropriates money and a weakling attempt to throw it on President Obama and his appointees in the Executive Branch.

    Scram.

  • big.yank big.yank Feb 1, 2016 7:19 AM Flag

    Paulson's comments in Eton Park came months after FnF's Dow-listed shares to a huge drive, contributing to a one day drop of 1,000 points for the blue chip index. The horse had been out of the barn for a long time before Eton Park.

  • Reply to

    Timeline

    by higherwork Jan 31, 2016 7:07 PM
    big.yank big.yank Jan 31, 2016 7:57 PM Flag

    Yes, that is a very comprehensive and complete recap of the Fairholme complaint. The Hindes/Jacobs circus act is more difficult to put a timeline on because the solicitation of Delaware Supreme Court rulings could slog on in endless delays over potentially shared discovery.Therein also lies the uncertainty in the state actions that were introduced in Iowa and Kentucky, late in 2015. Then you have interlocked delays for discovery inhibiting any settlement of the Perry litigation.

    In a nutshell, you have a plaintiff's birthday party scenario unfolding where you throw up enough stuff, hope something sticks to the ceiling or turns up in labored discovery, and if that fails to happen, then the court tosses your collective worthless keisters out on the street in an absolute and final dismissal and the judges go on a delayed and well-deserved vacation from trumped up profiteering, trying to use the courts as marionettes in a thinly veiled grab for the cash.

    JMHO.

    JMHO.

WAG
0.00(0.00%)