What a hoot. Suit filed against two defendants, only... FHFA and Jacob Lew. FHFA cannot be sued as conservator and Jack Lew is an individual, not the government with deep pockets for any big judgement or settlement.
So it's just another circlejerk: "Cornhole-trolling for dollars."
Suggest you review the lyrics of Cameo's song "Word Up" for clues.
Fosco was the first to go blatantly AWOL except for a few irrelevent Tweets.
Berko went dark.
MoeRon Steal went into the witness protection program.
Gasperino went quiet-time.
Corker passed his baton to Mulvaney.
Pagliara filed suits separate from Investors Unite against auditors and BoD's.
Sweeney released 800 documents and nothing happened.
Glen Bradford quit posting on I-H and creates little "noise" elsewhere, these days.
The REAL Tim Howard seems to have pulled back.
The FAKE Tim Howard seems to have shut up, too.
The gselinks website looks more like a missing persons bureau than a litigation recap.
More and more lawsuits filed, no lawsuits settled or even moving in any clear direction.
Just one, common denominator prevails: DEAD MONEY!
Lots of questions abound. No answers on what has changed are to be found anywhere. No verdicts. No courtroom decisions. No share price elevation. No volume support.
I guess you should have fully considered my many posts on separating Fannie & Freddie in all this litigation. There was a point to my observations, not that YOU or anyone else had any interest because the thesis didn't support your desired outcome.
I think your current "epiphany" is way off base, too,but at least it is sniffing in the right direction.
You are on your own from there.
But do remember this one key word in all this: "MISTRIAL".
Yes, of course you are right. This is the forum for "FUHK FACE" commentary and BUMP posts of ancient, worthless messages from months ago. And hundreds of knock-off ID's created to antagonize other posters.
Thanks for reminding us all of proper usage of YMB.
M - O - R - O - N
I believe that Mr. Williams is the second most famous entertainer to graduate from Temple University in Philadelphia. The other one was Bill Cosby. Talk about being a moral compass!
ALL lives matter.
Sure, not directly, but both Qualified Plan and IRA mandated withdrawals at age 69 1/2 are eligible as income sources for loan qualification, and a determinant of any customer's FICA score and ability to repay real estate loans. Any gutting of the retirement account savings area is detrimental to all layers in the housing sector.
That's all the litigation circus needs is a mini-me multiplier effect to drive hundreds of new, individual claims that can't become class actions against a conservator and can only confuse any currently pending suit and/or settlement.
Hedge funds own no monopoly on GREED.
People in New Jersey are all"refined" souls. That means they smell like Eau de Exxon.
Mr. Voacolo paid 77 cents for his shares in 2009 which are now worth approximately 2.5 times his acquisition cost. Somebody stole his Fannie? More like somebody stole his brain.
They can only recapitalized from profits. If LIBOR drags rates down, profits evaporate and further losses increase the likelihood of additional Treasury draws. We need an analysis from Joe Light on this issue. He is an expert on this stuff. I'm just an investor with concerns over a large holding in FNMAS preferred shares.
British banks like Barclays are getting crushed this morning.
Think the LIBOR scandal a few years back exposed the risk underbelly of Fannie & Freddie to depressed LIBOR rates? That was manipulated, bank-driven decline in rates for which huge settlements were paid. This time the LIBOR rate is likely only going to be affected by geo-political and currency re-evaluations that will be unquestionably valid. Look at what rate volatility did to FnF derivative metrics since 2014.
401K's dropped bigtime, Friday. Any further degradation will drain the source of downpayments for many home purchases formerly collateralized by retirement savings or loans taken against them to finance a purchase.
There will be extreme volatility, but I think the Brits made the right choice for them. The devaluation of the Pound will make their goods better priced to global markets. Trade with the former commonwealth countries like India and Australia will be revived and tourism will see a huge surge. I was shocked at a $450/night hotel bill in London last weeks at a formerly moderately priced hotel near St. Pancras station (the Pullman). Tourism is a major business in the UK, as well as business travel for banking, finance and insurance commerce. And look for rapid expansion in commodity trading via the London Metals Market in key categories such as aluminum, copper and titanium. Then thereis the financing at LIBOR that now looks like it will advance in competitive rates for debt restructuring and floating rate corporate bonds.
I think the FTSE100 may be a good play after the dust settles and the surprise dissipates in a week or so.
I prepared for this with a large cash position. U.S. high-yield equities could be another good play in the foreign flight to safety.
Drop dead. This report was on Bloomberg. So what. And if Joe Light moved on from WSJ, who cares? The report is very condemning, IMHO.
If you thought the report was helpful to longs, why didn't you or anyone else introduce its presence to this board?
Substantial report from the Wall Street Journal's Joe Light issued today.
It's all coming together, now.
Sorry, digger, Fannie is claimed to have never needed the bailout in the first place and supposedly was sustainably reserved and profitable to survive the downturn without any money from UST. Those assertions are the foundation for much of the litigation circus that continues to plague the GSEs and their stakeholders which clearly includes the U.S.government.
The FACT remains that Fannie Mae had the ability to end the conservatorship long before Amendment 3 was even under consideration. All it needed to do was return the UST advances in Q4.2008, or very shortly thereafter, and demonstrate that the taxpayers had no concerns or risks because FnF were able to stand on their own two feet with no need for any rescue money. Instead, No need for imputed interest. No need for any sweep in later years. SEVEN years later, most of the money had not been paid back to government. The banks had paid back much of their bailouts. AIG, the same. WHY? Why did the Twins sit on this volatile issue instead of simply paying off the Feds and proving they needed no conservatorship,going back to 2008 or 2009?
Who can blame the government for death spiral concerns when the actual payback math screamed "Danger, Will Robinson"?
Yes, that was the long-stated goal of FMIC. It was the fundamental principle underlying Johnson/Crapo #1 & #2. Everyone knows that. Especially Paul Ryan when he headed the House Budget Committee during the sequestration negotiations. Treasury said much he same stuff when Geithner spoke at the Brookings Institute in February, 2011. FHFA presented a White Pape report to Congess, that very same month.
Sorry, but there is no smoking gun content in any of this pile of paper.
Horseshlt. Show me where, anywhere, in any document government says it plans to take the interest forever? Actually, most of the discussion clearly states the whole thing crashes down in insolvency in January, 2018. That is NOT a "perpetuity" in any even remote sense of the concept.
Sorry you are losing, here.
This is not going to end well for you.
By the way, the comparisons with Bill Carney are highly flattering to me. I only wish I had the deep insight and knowledge of the GSEs that he and Joe Light continue to exhibit in their excellent, incisive reporting on FnF and the litigation circus launched to steal money from taxpayers like me.