merkhet

I have to imagine that Berkowitz et. al. are already in communication with Mnuchin. If not before today then certainly after...

I'm only in the preferred for reasons that I've stated before. Essentially, the distribution of outcomes for the preferred is "tighter" than the distribution of outcomes for the common.

I'd like to add that you're also considering retirement in the United States. I'm not sure that $500,000 isn't enough to retire on a beach in Thailand somewhere. Anyhow, just wanted to throw my two cents in and say that embedded assumptions are important.

Transcript of Fairholme call http://www.fairholmefundsinc.com/Documents/PublicConferenceCall20161118.pdf

The article said 4-5 times for equity group. I believe LTCM's leverage was in 20s. Thats 4-5 times for the capital, but the capital is invested in derivatives that have their own leverage, right?

Maybe I'm biased because I'm currently reading When Genius Failed, but I wonder how much leverage RenTech is putting on...

Oddly enough, though, it's the second time it's been mentioned by a Cooper & Kirk partner.

Yes, if true, it takes a big risk off the table...

This is very concerning, but I think it's worth noting that these racists are largely disgraced in the eyes of thinking people. I am much more worried about the racism on the left, which enjoys widespread cultural acceptance, has a solid intellectual backing, and is taught to children throughout the country. Disgraced or not, I think they pose a real physical danger to many minorities.

I have basically two worries: (1) Donald Trump has the nuclear codes soon (2) As shown by the link to Shaun King's twitter feed, the emboldenment of the alt-right has begun

This idea is still sweeping profits out of Fannie and away from owners. Sort of... The plan was to stop the sweep and dump the earnings into a reserve fund that could act as capital during a downturn. Then, once the conservatorship ends, it would be dumped into the GSEs as capital. I think it was structured this way because the thought was, "well, I don't know that we have the votes to figure out the capital requirements, but let's sequester the funds until we do."

Marsha Blackburn is on the Trump transition team. See article from a year ago: http://nlihc.org/article/bill-would-create-gse-reserve-fund-end-treasury-sweep

Given a new administration, what's the incentive to settle regardless? It's not like Trump and co give 2 shits about what goes to the public in those documents. As cherzeca mentioned, the lawyers work on autopilot and will keep doing so. They will do everything they can to obstruct and delay the trial to increase their billing hours, unless someone stops them. Are you asking about President Obama or President-Elect Trump? President Obama has some incentive to the extent that he wants to find a way to permanently fund affordable housing trusts through the restructuring. President-Elect Trump wants to fund a huge infrastructure push, and I think that monetizing the warrants would go a long way towards helping to fund that.

Paulson owns preferreds (as of two years ago), and Icahn AFAIK owns the common.

Well, the election was personally a gut punch for me, but my guess is that it's a positive here. Many people have pointed out that both Icahn & Paulson have been very dedicated Trump supporters from the beginning, and the full sweep of Congress makes it unlikely that President Obama hands things over to President-Elect Trump.

I DM'd you a link on Twitter.

God, what assholes. The harder they fight it, the more likely it's damning to the Government's case. I suspect Document 19 is so damning that they are waiting on an occupant of a house on Pennsylvania Avenue to give instructions on how to proceed. Agreed. Let's not forget about Document 19.

God, what assholes.

Well, I mean, it's not like this is the only thing of Fannie's plate. They have an actual business to run. Whether our lives revolve around the Fannie litigation/recap situation has no bearing on whether theirs does.

I second this. Very good book. Always ask "and then what?'

The former -- or rather that there is one judge who has yet to write a dissent. The judges have life tenure. They could care less about the effect on the election.

Maybe you missed them? http://www.cargoair.org/wp-content/uploads/2016/09/DC-Cir-Per-Curiam-Judgment-3-24-2016.pdf That seems to be Independent Pilots Association. https://www.ferc.gov/legal/court-cases/opinions/2016/14-1085opn.pdf That seems to be American Transmission Systems listed further down the list. (Just a random choice.)

As a side note, we now have only 4 cases that were heard last term but have not yet been issued opinions.

It's a bit pointless to order them to deliver the documents if they're going to appeal the decision anyway. So that's the pragmatic answer. That said, they haven't entered an appeal, so it's odd that there wasn't a direct order to turn over the documents. Like @cherzeca said, it's a weird situation.

What's the point of issuing a ruling with no deadline, especially given how she is aware (and upset) at their delay tactics? Your guess is as good as mine. :)