Fanatical Infidel
2 months ago
R U Sure? Wasn't it meant to stop Feb 4th 2024 ?? If this is continuing to grain interest that was Judges plan for them to settle and not drag this out!!
Not sure where you got the Feb 4th date from...My understanding is Lamberth granted interest to shareholders going back to August 2012 until final judgement is entered.
On October 24, 2023, the Court ruled that the Fannie Mae junior preferred shareholder plaintiffs were entitled to prejudgment interest, and awarded simple interest on the $299.4 million damage award, accruing from the date August 17, 2012 until the date on which judgment is entered, at a fixed rate of 5% over the Federal Reserve discount rate as of August 17, 2012. Fairholme Funds, Inc. v. Fed. Hous. Fin. Agency, No. 1:13-cv-1053 (RCL), 1:13-mc-1288 (RCL), 2023 WL 7002665, at *1, 9 (D.D.C. Oct. 24, 2023).
https://casetext.com/case/fairholme-funds-inc-v-fed-hous-fin-agency-5/
trunkmonk
3 months ago
completely wrong.
HOUSING AND ECONOMIC RECOVERY ACT OF 2008
RESTRICTION ON CAPITAL DISTRIBUTIONS.โ page 2731
โโ(1) IN GENERAL.โA regulated entity shall make no capital distribution if, after making the distribution, the regulated entity would be undercapitalized. The exception.
Quote: โPage 2732
EXCEPTION.โNotwithstanding paragraph (1), the Director may permit a regulated entity, to the extent appropriate or applicable, to repurchase, redeem, retire, or otherwise acquire shares or ownership interests if the repurchase, redemption, retirement, or other acquisitionโ โโ(A) is made in connection with the issuance of additional shares or obligations of the regulated entity in at least an equivalent amount; and โโ(B) will reduce the financial obligations of the regulated entity or otherwise improve the financial condition of the entity.โโ.
NOTE: REPURCHASE, REDEEM, RETIRE...
WILL REDUCE THE FINANCIAL OBLIGATIONS OF THE REGULATED ENTITY.
Link: https://www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf
Fanatical Infidel
3 months ago
Senator Haggerty's comments to FHFA Director Sandra Thompson at today's banking hearing...
Director Thompson I would like to direct this to you. You have testified that in order to end conservatorship of Fannie Mae and Freddie Mac, two things need to happen. First, theyโve got to build capital through retained earnings before ending the governmentโs 15 year long conservatorship. Second, youโve said that Congress needs to decide the future of these two government sponsored entities and the US mortgage finance system more broadly. On the first point, the quickest way to end the GSE conservatorships is to raise private capital just as bailed out banks were allowed to do in the wake of the 2008 financial crisis. Now that the GSEs control so much of the housing market, there seem to be a reluctance to relinquish government control. I ask myself: Why? Well, judging by the redistributive housing policies that have been pursued while youโve been at the helm of FHFA it seems that the GSEs are viewed by the Biden administration as simply backdoors to push its DEI social policy agenda which is well beyond your mandate. On the second point, congress has already decided what type of mortgage finance system it wanted with the 2008 HERA law. That law significantly enhanced the regulatory and supervisory powers of your agency over Fannie Mae, Freddie Mac and the Federal Home Loan Banks. The problem here is that the Obama and Biden administrations have never taken their feet off the throats of Fannie Mae and Freddie Mac so that they can succeed as private companies. The responsible thing to do for yourself, for Secretary Yellen and for Attorney General Garland is to continue the work that was begun by former FHFA director Calabria to raise private capital and return Fannie Mae and Freddie Mac to the private markets. This would result in a $100B+ windfall for taxpayers and could be used to immediately to help expand the countries housing supply and support affordable housing for Americans most in need. We talked about this at the time of your confirmation to be the agency head and our housing markets and American taxpayers deserve to see these conservatorships to be brought to an end. I appreciate your full attention to this in the time you have left remaining as director. Thank you.
https://www.glenbradford.com/2024/04/senator-hagerty/
trunkmonk
6 months ago
yeah i know, for those lacking in amplitude or simple math, memory, and reading skills ill review.
wow FNMAS did a 10% swing from 4.8 to 4.3,
since the high was 4.80 and it went back to 4.20 ill perform it for you. 4.80 - 4.20 = .60
down 60c from its high, which was my premise in the first place and only place. I rounded off not to confuse dolts too much. keep your filthy mind off children and stop thinking like a smart ass teen, you might make to college some day.
i will even elaborate some more, a day trader could make a lot more than opening and closing numbers, on almost every stock, thats how it works for anyone above 6th grade level skills