Sounds like jail time if that one is ever proven to be true.
Ordinary investors lack the capital to invest in hedge funds.
It's all a game for big money to make more big money.
Very true, and very well stated. Anyone wanting background can read the link I posted, last week, on investorshub, or put "Paulson Fannie Russia China" into Bing or Google.
If given full access to sealed information I would guess this adds another 6 months to the process.
The writer clearly identifies the gambits being played out by hedge fund investors rewriting history to justify huge gains for themselves.
Very interesting that this article is being touted so aggressively by longs when a chunk of its focus is highly unflattering to these shareholder actions playing out in a courtroom near almost everybody.
Hindes' comments are laughable. His last gambit against FDIC took TWENTY YEARS before he netted a juicy settlement for himself.
First they threw anchovies and stinky cheese on Old Julius, then they made a salad out of him and ate him alive.
More croutons, anyone?
"Tim Howard" is having another seizure.
Fannie Mae made enough money to pay back its bailout funds. Why did it also not owe income tax on those gains? How much of what Fannie repaid was just normal tax liability that does not retire any reimbursement obligation?
This is a serious question!
The answer is important because taxes deferred under "loss" conditions that get reversed after asset revaluations that result in subsequent gains are NOT classed as normal income under GAAP accounting principles, meaning they would NOT be ascribable to common shareholders as a source of dividend income.
If Fannie & Freddie are 100% shareholder owned private enterprise firms, then how come they pay almost zero corporate income tax?
Please explain how this is possible, or even legal.
Drop dead, doofus. I own a lot more stock in Fannie than most that post on this board. The GSE business model DID fail. It failed in the period leading up to The Christmas Massacre in 2004 amid huge losses and all kinds of histrionics. Problems existed at Fannie in that era, as well. Then there was the bailout period in 2007/2008... an utter breakdown. Now we fast forward to today and the line-up of PIGS demanding money, money and more money, all of which would come at someone else's expense.
The sad reality is that your pumper cronies like chessmaster315 devote hours, weekly, to screaming about how here is no government guarantee, or that the government is entitled to nothing because there is no backstop to which they are entitled to compensation, or that there is no risk because borrowers are all privately insured, or that default data proves the mortgage business is riskless.... all total rubbish. In this thread we were discussing the minority support platform that seeks to redirect FnF to a primary function of serving the minority community. That is NOT what the GSEs were chartered to do. And, if you are a shareholder, here, you should have concerns about proposals like the Shapiro study that include a 50%+ dilution of common shares so housing can be jumpstarted in a redistribution of wealth from shareholders to poor people.
Maybe you are just one of the many that seem to come here to argue with somebody else. If so, don't waste my time with your childish drivel, junior, because you aren't worth my time.
There are several social-engineering advocacies trying to hijack Fannie & Freddie to serve a narrow agenda of wealth building for minorities. Did anyone view the disgraceful video: "the Fannie Grabbers -- Emma's Prayer"? There is nothing in the charters of the GSEs that expresses a minority housing imperative. It's not in there. I just re-read the entire, boring tome the other day.
Government and outside groups can script all the videos and studies (Shapiro) they want, but my instinct tells me much of this latest rhetoric is agenda-driven and has nothing to do with either the law or shareholder value. But if any of it even sniffs like an attack on the government, you pumpers have an orgasm and start jumping up and down in celebration of your soon-to-be-awarded huge gains on common shares.
Be careful what you wish for.
There is nothing in Fannie Mae's charter that contains a mandate to facilitate low income housing.
Oh no, that can' be right because chessmaster315 says with apparent conviction that the government extends zero guarantees to Fannie on anything and he also says there is NO BACKSTOP and that private insurance covers any default contingency.
That's what cheesehead keeps saying, over and over and over again.
You'd do just as well watching Blackish or old episodes of the Jeffersons. Tune in if you like black comedy as a genre.
I think it is because of the additional state lawsuits filed after Hindes and the fear of jurisdictional spread. Remember that Judge Steal is going after damages... the Holy Grail of attorney compensation. Who wants to share a potentially enormous payday with a bunch of nobody lawyers in hick states like Iowa and Kentucky?