Really? What other debt was there for Fannie to purchase besides sub-prime debt so they could fulfill their charter? If they bought no sub-prime debt, there would be NO liquidity and hence, a total collapse of the housing market.
You jerks just crack me up. In the end, it is just all about greed. Greed for the hedgies. And greed by the sheep that follow the hedgies as some stupidly imitative path to envisioned wealth. Most of you dumb clucks don't even comprehend the difference between preferred and common FNMA shares and naively think you win in any circumstance.
I agree with you, especially since I own a HUGE stake in NEWL, even after the latest round of Ironridge dilution. This dork gordonmmcdee posts as jimw2 on investorshub and is a flaming idiot that keeps posting NEWL is filing for bankruptcy. Any IDIOT knows that in Bermuda a BK filing can only lead to a court-supervised liquidation of assets, and filings are only made to force all creditors into court under threat of huge losses in a liquidation to secure a refinancing of current debt before the lenders have to EAT enormous losses.
What profits? With the real estate market so weak, who is going to buy these troubled properties for anything like book value? The Fannie HDQ is probably underwater and may require a short sale to close any deal. LOL.
FNMA doesn't need ANY headquarters at all since it will likely be wound down once the Republicans gain a Senate majority after the midterm elections in November. Corker's revenge is on the menu.
Hey, good to hear from you again, Mr. Kirkland. Hope you have your passport updated and lots of cash stashed overseas for when that knock comes on your front door.
EVERYBODY knows that 30 minutes can save you 15% on car insurance... and EVERYBODY knows that a short with an unmarried mother loves to distort the truth when it comes to NEWL. In fact, EVERYBODY also seems to be lining up to SUE IRONRIDGE. Why do you think that is, Mr. Kirkland? Has the entire world of financing gone to ingrates, or, have your toxic deals established IR as THE BIG PIG in death spiral manipulation of company's shareholders who continue to suffer huge losses while you apparently enjoy usurious rates of return for minimal investments?
Why don't you consider quitting being a total jerkov? There are people here trying to either make money or salvage some of what they sunk into this beleaguered stock. Snarky comments accomplish no positive outcome for anybody.
Follow up, Einstein. Why do you think Bruce Berkowitz bought the PREFERRED SHARES?
Do U think you are smarter than a Third Grader?
I spend 10 minutes a day reading and replying to messages on this board. I didn't buy at $.25 for the same reason I didn't buy it at $4, today, or $6 just a short while ago. I didn't buy it because it isn't even worth $.25. It is going to get gutted and both GSE's are going to be shut down. After the warrants are exercised and the diluted shares sold off by Treasury, this stock will be trading at , 5 cents.
Any other questions or comments, junior?
He's like the DNA pairing of Anderson Cooper and Jim Parsons from "The Big Bang Theory" in a double-helix combination to defy all modern genetic science. Part idiot/part savant. Part investor/part ghoul. Part American/part seditionist. Part human/part hedgie cyborg.
Ackman typifies the FNMA long mentality. And, speaking of AIG...
Actually, the listing process for the NYSE is highly complex and extremely detailed. No company I ever heard of that listed there even attempted the process without contracting for major and expensive consultancy support, in addition to its own legal team which must craft thousands of pages of boilerplate, financials and risk analysis. I have personally lived through this process and I can tell you thyat your Polish joke analogy is a total crock.
Ridiculous distortion. I have posted next to nothing on ihub for months. You have no clue as to my motives for interest. You also have no problem with morons posting purely political messages with lame, valujeless content, if you can even call it that. You lack the intellectual capacity to reply with facts and conviction so you just mindlessly pan any dissent. That's because you are a mindless long that would rather bury your head in the sand and "hear no evil" than consider actual, tangible isuues that affect your money you have tied up in this very speculative deal.
It's all about risk of failure. The bank rescue was all about liquidity. Two entirely different economic issues. Many of the banks actually did not want TARP or the $, but the government reacted quickly because the economy was at the precipice of collapse.
Hey, here's a suggestion for you, there, john. Instead of just hurling insults and pejorative garbage, why don't you try and post some intelliigent, fact-based rebuttal to opinions with which you disagree?
Otherwise, you just waste everyone's time, including your own.
The banks played a huge role in the financial meltdown and I would never state otherwise. But you assume only the worst and most scandalous of motives for these "dealings" which tells me you never read Paulsen's book or read Bernanke's testimony before Congressional leadership. It's very convenient to assume the worst for every action when you are suing for $ billions, but that does not make a convincing case in the courtroom.
Tim Hortons provides a Starbuck's quality product and high levels of customer engagement and loyalty at a Dunkin level value price. BK makes a superior tasting burger without the McD kiddie circus atmosphere. I can see tandem pairings similar to KFC/Taco Bell duplex op's adding a lot of revenue at fractional, shared overhead costs. Purchasing synergies abound.
Very smart move, IMO.
Anyone hitching their cart to Maurice Greenberg's horse and expecting a favorable outcome is delusional and, likely, confinable to an asylum. The risk to the Justice Department's defense all along has been the lack of judicial expertise in dealing with such complex credit-market issues and metrics. The AIG parallel suit is a great precursor because it is relatively easy to prove insolvency, thus justifying the bailout and actual generosity that the 79.1% warrant offer represented. The AIG board of directors took less than 24 hours to accept the government's bailout proposal. That's because the Grim Reaper was knocking on the boardroom door and has his blade sharpened for the final kill.
The AIG suit is going to strengthen the U.S. government's position in the FNMA litigation because it will underscore the collapse of the credit markets and the risk of another Great Depression as predicted by Ben Bernanke and many other reputable experts including Hank Paulsen who, you remember, was really Bush's man, not Obama's.
Nah, that's a heavily edited version of the actual transcript. TrasAsia claimed to have a letter of credit from Barclay's Bank. Since Newlead had a relationship with that bank, it was easy for them to expose the fraud. So TA counterclaimed that NEWL really didn't have the coal it claimed when, in fact, they had contracted for lots of carbon grade coal sujfficient to meet its obligations, had the agreement gone forward. That's my recollection.
There is unprecedented demand for coal throughout Asia, and in China specifically. There is abundant opportunity for new deals that involve partners that actually have cash to pay NEWL for their puchases. Kudos to Zolotas for proper credit assurance disciplines before blithely signing a bad deal for shareholders.