Maybe YOU should consider the other players like BMS before asserting that Dendreon was the whole enchilada in immunotherapy cancer treatments and, thus, was worth so much more than the $480 M that Valiant bailed them out with before the doors were padlocked.
You are such a tool.
Nice to see Amber is a new poster with a just born ID who devotes her very first message to bumping ronaldluhmann a/k/a navycmdr's message to the top of the thread.
Nothing suspicious about that.
Omigod, there's somebody on this message board that actually believes that navycmdr tells the truth in his messages? That guy took a few too many rotors to the head while he was on active duty.
Bwahahahaha. FNMA = FUBAR, in true Navy dialect.
That's unheard of because it never happened. Dendreon was hardly a leader in immunotherapy or ANYTHING. It had one, very expensive prostate cancer treatment drug approved by FDA and in Europe which was overpriced and enjoyed little favor in the oncology community, in part because its presumed benefits were only to a narrow market of terminal stage patients.
Valiant will likely earn some profit on Provenge... a feat Dendeon could never accomplish... because they have expertise in automated production technology.
According to Dr. Oz, 55% of Americans suffer some form of addiction impairment, the majority of which are opioid-based. So, if what you say is true, Humana Rightsource Pharmacies should have zero problem recruiting PharmD's for the foreseeable future. Thanks, I guess, for the good news.
Fannie's insolvency conundrum was true at the time the conservatorship was set in place in 2008, and remains true today, IMO. FHFA laid out specific targets for the GSEs to reduce risk and, while reported losses have subsided in the improving economy and housing market, Fannie remains on a shaky footing.
Again, IMO, the GSEs could never sustain another housing collapse like the "second bubble" under wide discussion as put forth by Carl Icahn last week, and many others. Read Bove's latest comments, as well. There is a reason why Berkowitz favors preferred shares and their advantaged tier of liquidation preference.
YOU must be the one that is new to all this. Your information is patently incorrect. At the time the conservatorship was enacted, the government was granted a 20 year window to exercise the warrants. The conditions never consider the word "bankruptcy". The GSEs lack sufficient wherewithal to assure $5,500,000,000,000 in MBS can be covered in case of another meltdown. This roughly approximates a bank's condition of insolvency in a run triggered by loaning out more than its authorized leverage ratio permits.
Very active campaign during solicitation period.
This is big money, guys.
Under the terms of HERA as established in 2008, the FHFA had total control of every aspect to the GSEs. The sweep of profits was, I believe, enacted to prevent recapitalization of the GSEs without some meaningful reform that prevented taxpayers from being presented with yet another $200,000,000,000 emergency bailout proposition.
Fannie profits were never delivered to shareholders as some form of "profit sharing" as you claim. For the GSEs to be conserved, a financial safety net needs to be amassed, at minimum, anda Congressional accord needs to be reached on what future the GSEs may have IF they are to remain government sponsored enterprises. As for "damages", how do you compute those. This stock was trading at, what, around 14 cents when you bought it in 2010. Now it's trading at around $2.25. Wow, you sure were damaged! Get a life.
The law will eventually rule on Fanniegate and, yes, you may even win in the end. But I wouldn't plan on spendin any of those big gains until after 2020.
HERA is the law. It was followed. The person ignoring the law is YOU and your coalition of opportunists who care nothing about democracy, housing, capitalism or anything else except scoring a big payday on FnF shares you bought on the cheap.
All the rest of this self-righteous rhetoric is nothing but a disgraceful smokescreen to obscure your only moral driver: GREED.
Without the Federal government, there is no Fannie or Freddie. The GSEs were established by Congressional action to support affordable housing. Their roles have been expanded and recast by Congressional action many times, over the years. The government was RAKED OVER THE COALS for bailouts during the 2008 meltdown, with the battle cry of "Never Again" rallying the Libertarian and Conservative ranks, and leading to the formation of The Tea Party.
Suggest you contact the office of Senator Robert Corker if you want to know why so many in government are demanding a total reform of the GSEs before any recapitalization is initiated. Don't blame me for the campaign, and don't blame government for "STEALING until you are clear on their motives which, IMHO, do not include any theft motive or malevolent intent towards affordable housing.
"It is mostly about honest, hard working taxpayers..." Let's start with the first and most absurd of your claims. There is very little in Fanniegate that is being driven by any such class of shareholders. These actions are being driven by a small, compact group of hedge fund managers and big money guys who are upfronting huge legal expenses in hopes of reaping a ginormous payday by looting the treasure of the reviving GSEs that actually does belong to the hard-working taxpayers that rescued them. Want proof? How many of the multiple plaintiffs in all these multiple lawsuits ever spoke up in behalf of the GSEs, or spoke out on the importance of housing or the role of 30 year mortgages as part of The American Dream until they bought up cheap shares? This is all about GREED.
Second, Congress passed a LAW called the Housing & Economic Recovery Act that made a conservatorship an authorized action as/if required. The boards of both GSEs consented to the imposition of conservatorships. There was no public outcry or litigation filed by those board members that challenged any actions undertaken by FHFA or Treasury. Right?
Your high horse is all saddled up for your much-anticipated trip to the bank to deposit your enormous gains on your Fannie stock. Yup. You fit right in.
Yup. Just like tax relief for the wealthy and tax abatement for the masses, while all the while whining about the debt ceiling and deficit.
Bethany McLean wants to sell books and possible media rights. Bill Ackman wants to make huge profits on FnF stock he bought on the cheap. Ditto for Tim Pagliara at Investors Unite. Ditto for Tim Howard who would love to clear his record of any culpability for the housing crisis and the woes of Fannie as their CEO prior to the takeover. Ulterior motives abound in Fanniegate, and not all the conspiracy theories include the Federal government, politicians or Treasury or FHFA bureaucrats.
I don't think that the mojo ever really left, if "mojo" is still used in popular speech, anymore. The energy doomsayers and the Chanos short news shook out a few players. But most of the shares and debt paper are being held by bigtime players who don't day trade in and out of stuff at the drop of a hat.
I have never been worried about Cheniere. Energy runs in cycles. It will go back up.
You overlook the fact that HERA authorized FHFA to take whatever pre-emptive action it deemed appropriate once conservatorship was enacted. And Fannie's board approved the arrangement. So to overturn later issues like Amendment 3, you must first invalidate the earlier event's propriety. That is only logical.