Judge Sweeney granted the governments motion to extend to March 3, 2014 its date to respond to Washington Federal's objection to their motion to dismiss.
Its a game of delay and stall - instead of working out a solution the government is going to push this out as long as possible. They claim, they have other matters to deal with Holiday schedules and other responses on their other requests for dismissals in the other cases that all make this one so hard to respond to. They claim they have to orchestrate their response between agencies. Meaning they have to get the story straight and all the talking points down....
This was filed on the 19th and "approved" on the 20th.
You'd think if it were important to them - you know the us citizens they'd deal with it rather than delay it.
Here is the first page.
IN THE UNITED STATES
COURT OF FEDERAL CLAIMS
WASHINGTON FEDERAL, MICHAEL )
McCREDY BAKER, and CITY OF AUSTIN )
POLICE RETIREMENT SYSTEM, )
) No. 13-385C
v. ) (Judge Sweeney)
THE UNITED STATES, )
DEFENDANT’S MOTION FOR
ENLARGEMENT OF TIME
Pursuant to Rule 12(a)(1) and Rule 6.1 of the Rules of the United States Court of Federal
Claims, defendant, the United States, respectfully requests a 60-day enlargement of time to file
its reply in support of the United States’ motion to dismiss. Our reply is currently due on January
2, 2014. The request for enlargement, if granted, would extend the date to March 3, 2014. This
is defendant’s first request for an enlargement of time for this purpose. Plaintiffs have stated that
they oppose an extension of time beyond 45 days.
I would totally agree. I expect the Corrected Price to be around $24 or so after some leaking of plans to "use" fandf in the reform mode. From there they should correct or price adjust to around $65 or so.
So, yes I agree. Wholly. A Correction is in order.
One other thing is the Government told the Board of Directors that if they consented to the conservatorships they would not face "prosecution" for their respective actions.... in other words - its extortion.
The agreement that was "extorted" out of the prior fandf mgmt / bod - suspended our "right" to have annual meetings.... sorta like it was never agreed to by the shareholders to start with. Essentially, our rights were usurped without our permission.
The rate of 10% was 300% greater than the prevailing rate... TARP rate is / was therefore a looting of the company. And criminal on its face.
KC...the common shareholders own 100% ... what you refer to is a myth. The 79.9% warrants are bogus. (also 100% - less - 79.9 = 20.1 not 20.9 anyway) Mo.
hmmmm - right now ... looks like a broad market sell off in the works today. Odd same day as twitter offering and fandf earnings release. I think its also odd (coincident not) that they chose to release ER on same as twitter in order to keep it out of the media. I see order balance issues... for these two.
Good to see WSJ say they've "repaid" money. We should be at higher levels.
Was this an emergency or was the emergency contrived. Was it an "emergency" because they said it was or because it was? or was it? Was it self fulfilling???? There was a lot of rampant speculation of insolvency going on back then... there was a lot of smear campaigns ... lots of people writing sensational headlines... things like.... DISNEY to go BANKRUPT then in small type "- if it closed all its theme parks, ran all the ships aground and gave all its money and assets to charity".... and stuff like that ... lots of speculation...
There is a reason the "minimum" wage keeps rising and will continue to do so. Its because, in reality any adjustment is effectively temporary on a pure wage basis. Meaning, prices of other goods and services ultimately rise and the benefits of "higher" minimum wages become short lived. If we had $7 Big Mac's we'd also have $5 /gal gas and $20 movies.
Follow the cash and the control...
If the FHFA is not the us goverment.. then a "racketeering charge could be levied"
Also, a "law" can not be written to take away my constitutional rights. The constitution would have to be amended.
There will have to be a "hint" of a changing or altering the fandf have to go mood to a more. Lets Modify them to take advantage of them. ... It will come as a mere hint. Once that happens the flood gates will start opening up. It will be the visual "dam" breaking first a leak then a couple more and suddenly ...
Watt is bad for FandF - jmho. He favors obamo's redistribution of other peoples money programs. Instead of conserving capital and building company net worth - like a pro business person he would - forgive loan principal. Watt is not good for fandf shareholders.
Ya know... I've been thinking about that... at $70 bucks a share and a 2.4% divy... = $1.68 annually or 42c quarter .... well FNMA would be my pension.
cd... From a pure Cash Flow perspective FTR is a wonderful entity. If some big player that likes regulated near monopolies .... like railroads for example were interested in buying FTR would be a wonderful company to own all of. I could see such an entity like Berkshire Hathaway scooping up this kind of cash flow. For the very same reason many people buy shares of FTR for the dividend at 9% or so the whole company could be had for just 6 billion.
How much do we get when they resolve the Fed's liability to the entities for giving them the "business"
My daughters and wife all shop at Ulta. They buy their supplies no where else and have done this mostly. I had the chance to take my daughter last weekend and the place was packed with women. Of all ages. The line to checkout was consistently 2 - 3 people over the 45 min I was in the store. I don't get the earnings miss at all; The feedback from my daughters is all positive and that their friends shop there for their stuff as opposed to sally, the mall, or drug stores. Very odd price action today.
G T - There are a bunch of people or maybe just one that just simply does not understand economics. That's okay. That's why I get paid the "big bucks". But, really, they are arguing senselessly, easy to separate the A' students from the F students. Its really not that hard once you understand cause and effect.