hardincap Posted May 5, 2016 Share Posted May 5, 2016 3 months since last filing (Ps reply to govt's response) on motion to compel. in the interim, judge sweeney received and ruled on motion to lift seal on certain perry exhibits, so we know she can be timely. one would think she will rule on motion to compel soon. Yea, I'm not sure what the hold up is at this point... Doesn't seem like a good sign for it to take this long, when lifting seal decision came so quickly Link to comment Share on other sites More sharing options...
Guest cherzeca Posted May 5, 2016 Share Posted May 5, 2016 3 months since last filing (Ps reply to govt's response) on motion to compel. in the interim, judge sweeney received and ruled on motion to lift seal on certain perry exhibits, so we know she can be timely. one would think she will rule on motion to compel soon. Yea, I'm not sure what the hold up is at this point... Doesn't seem like a good sign for it to take this long, when lifting seal decision came so quickly yes and no. this is a HUGE decision for a lowly court of federal claims judge. this goes right to the heart of separation of powers and respect accorded one branch of govt by another. sweeney knows that she will never have a more important decision than this, ordering the POTUS to disclose (likely under seal) docs to adverse litigant that POTUS wants to keep secret, so she needs to do her research and write an opinion that can stand the test of time. not quite judge sirica in US v Nixon but close plus, this is a very complicated assertion of privilege, calling into question among other things whether the prior review of claims of privilege by an agency official is required (this to avoid what happened in this case, not having an official decide what is really important and having lawyers defending the govt run amok, but this precondition is being called into question in recent cases); whether fhfa involvement (taking govt's assertion at face value that for jurisdictional purposes fhfa is not govt) waives privilege etc. as i recall there were 10 separate claims made in the motion to compel. reading sweeney's tea leaves, seems to me that she is no particular fan of the way the govt has been conducting its defense, so i think we can expect some level of granting of the motion; whether that gets at a small or large portion of the withheld docs is the big question Link to comment Share on other sites More sharing options...
Guest cherzeca Posted May 5, 2016 Share Posted May 5, 2016 a salutary exposition of bias, if creatively deployed: https://hbr.org/2016/05/a-cognitive-trick-for-solving-problems-creatively?utm_source=twitter&utm_medium=social&utm_campaign=harvardbiz Link to comment Share on other sites More sharing options...
merkhet Posted May 5, 2016 Share Posted May 5, 2016 http://www.marketwatch.com/story/fannie-mae-ceo-says-its-not-sustainable-to-operate-without-capital-2016-05-05?siteid=yhoof2 “Operating with essentially zero capital is not sustainable,” the CEO said Thursday morning, just after his company reported a $1.14 billion profit in the first three months of the year, the 17th consecutive quarter of profitability. I think this is the second time that Mayopoulus has mentioned this? Link to comment Share on other sites More sharing options...
doughishere Posted May 5, 2016 Share Posted May 5, 2016 http://www.marketwatch.com/story/fannie-mae-ceo-says-its-not-sustainable-to-operate-without-capital-2016-05-05?siteid=yhoof2 “Operating with essentially zero capital is not sustainable,” the CEO said Thursday morning, just after his company reported a $1.14 billion profit in the first three months of the year, the 17th consecutive quarter of profitability. I think this is the second time that Mayopoulus has mentioned this? Incentive Merk. There's no incentive to build capital and billions not to not to. Link to comment Share on other sites More sharing options...
hardincap Posted May 5, 2016 Share Posted May 5, 2016 yes and no. this is a HUGE decision for a lowly court of federal claims judge. this goes right to the heart of separation of powers and respect accorded one branch of govt by another. sweeney knows that she will never have a more important decision than this, ordering the POTUS to disclose (likely under seal) docs to adverse litigant that POTUS wants to keep secret, so she needs to do her research and write an opinion that can stand the test of time. not quite judge sirica in US v Nixon but close plus, this is a very complicated assertion of privilege, calling into question among other things whether the prior review of claims of privilege by an agency official is required (this to avoid what happened in this case, not having an official decide what is really important and having lawyers defending the govt run amok, but this precondition is being called into question in recent cases); whether fhfa involvement (taking govt's assertion at face value that for jurisdictional purposes fhfa is not govt) waives privilege etc. as i recall there were 10 separate claims made in the motion to compel. reading sweeney's tea leaves, seems to me that she is no particular fan of the way the govt has been conducting its defense, so i think we can expect some level of granting of the motion; whether that gets at a small or large portion of the withheld docs is the big question thanks for adding color. i wish this would move faster but i understand things are far more complex than they appear on the surface Link to comment Share on other sites More sharing options...
doughishere Posted May 5, 2016 Share Posted May 5, 2016 Ackman mentions F&f in Graham and Doodsville. Sry if repost. https://www8.gsb.columbia.edu/valueinvesting/sites/valueinvesting/files/Graham%20%20Doddsville_Issue%2023_Final.pdf Link to comment Share on other sites More sharing options...
Guest cherzeca Posted May 5, 2016 Share Posted May 5, 2016 http://www.marketwatch.com/story/fannie-mae-ceo-says-its-not-sustainable-to-operate-without-capital-2016-05-05?siteid=yhoof2 “Operating with essentially zero capital is not sustainable,” the CEO said Thursday morning, just after his company reported a $1.14 billion profit in the first three months of the year, the 17th consecutive quarter of profitability. I think this is the second time that Mayopoulus has mentioned this? when the ceo of fnma says the conservatorship approval of NWS has made its business model unsustainable, shouldnt Ps firms make a filing for judicial notice with perry ct app? Link to comment Share on other sites More sharing options...
doughishere Posted May 5, 2016 Share Posted May 5, 2016 You would think..... Link to comment Share on other sites More sharing options...
hardincap Posted May 5, 2016 Share Posted May 5, 2016 carney is relentless. whats his motivation? http://blogs.wsj.com/moneybeat/2016/05/05/the-myth-of-the-fannie-and-freddie-third-amendment/?mod=yahoo_hs Link to comment Share on other sites More sharing options...
TonyG Posted May 5, 2016 Share Posted May 5, 2016 I used to be so bothered by what carney wrote but now ive just come to accept it. It is certainly odd and frustrating how vocal he is about it. Cherzeca, The ceo AND the conservator himself have now said that.im not advocating everyone email perry attorneys, but cant someone let them know? What would be their reasons for not doing so? Link to comment Share on other sites More sharing options...
Mephistopheles Posted May 5, 2016 Share Posted May 5, 2016 If Donald Trump wins, or has even a shot at winning, I feel they will recap and release. I can't imagine Mel Watt and Obama handing over the keys to the nation's housing market to Trump... Link to comment Share on other sites More sharing options...
doughishere Posted May 5, 2016 Share Posted May 5, 2016 carney is relentless. whats his motivation? http://blogs.wsj.com/moneybeat/2016/05/05/the-myth-of-the-fannie-and-freddie-third-amendment/?mod=yahoo_hs He doesn't like hedge fund guys.....thinks he should be running his own hedge funds...plus maybe some commitment bias. I think his bio says he was a hedge fund lawyer...probably wasn't very good at it...so now he's writing. That being said he's not a very good investigative journalist either...but I have my own biases(I'm still not sure) in that...sorry I woke up on the wrong side of the bed this morning. Link to comment Share on other sites More sharing options...
doughishere Posted May 5, 2016 Share Posted May 5, 2016 If Donald Trump wins, or has even a shot at winning, I feel they will recap and release. I can't imagine Mel Watt and Obama handing over the keys to the nation's housing market to Trump... Please let's leave the politics out of this thread Link to comment Share on other sites More sharing options...
tede02 Posted May 5, 2016 Share Posted May 5, 2016 I used to be so bothered by what carney wrote but now ive just come to accept it. It is certainly odd and frustrating how vocal he is about it. Cherzeca, The ceo AND the conservator himself have now said that.im not advocating everyone email perry attorneys, but cant someone let them know? What would be their reasons for not doing so? Carney is Treasury's unofficial spokesman. Link to comment Share on other sites More sharing options...
Guest cherzeca Posted May 5, 2016 Share Posted May 5, 2016 I used to be so bothered by what carney wrote but now ive just come to accept it. It is certainly odd and frustrating how vocal he is about it. Cherzeca, The ceo AND the conservator himself have now said that.im not advocating everyone email perry attorneys, but cant someone let them know? What would be their reasons for not doing so? w/o revealing sources or methods, i can assure board that at least cooper & kirk (fairholme) is aware of this quote from fnma ceo during CC Link to comment Share on other sites More sharing options...
Eye4Valu Posted May 5, 2016 Share Posted May 5, 2016 Christian: Would you reveal your sources/methods under seal for us? JK! Link to comment Share on other sites More sharing options...
doughishere Posted May 6, 2016 Share Posted May 6, 2016 While I don't Ike carney, I think he has a point here And Fannie would struggle to meet its obligations to Treasury in tough quarters even if a court ordered the government to revert to a 10% dividend and reduced its stake by the $76 billion or so paid in excess of what would have been owed. In that case, Fannie’s quarterly dividend would be just over $1 billion. Link to comment Share on other sites More sharing options...
doughishere Posted May 6, 2016 Share Posted May 6, 2016 Legalities aside I'm a little shocked no one has quarterly estimated what the dividend to the govt should be.....you would think TO would show that in a presentation..I guess he just needs more preparation....you know quantify the damages done to shareholders Aussie Leslie Luk (my spelling is shit,I owe her a pint ) is spot on. im actually a little shocked no one else has bought it up.... Read her comments.......fucking Aussies...some tough sobs....Google her SA article. Link to comment Share on other sites More sharing options...
Guest cherzeca Posted May 6, 2016 Share Posted May 6, 2016 While I don't Ike carney, I think he has a point here And Fannie would struggle to meet its obligations to Treasury in tough quarters even if a court ordered the government to revert to a 10% dividend and reduced its stake by the $76 billion or so paid in excess of what would have been owed. In that case, Fannie’s quarterly dividend would be just over $1 billion. math doesnt work out that way. the fnma profit would more than cover the adjusted for NWS invalidation amount of treasury preference. but this also ignores that the $3B+ derivative loss was non-cash, a pure accounting entry. one pays dividends with casn not accounting entries Link to comment Share on other sites More sharing options...
Guest cherzeca Posted May 9, 2016 Share Posted May 9, 2016 fnma common up over 10% today. anyone hear rumors? Link to comment Share on other sites More sharing options...
doughishere Posted May 9, 2016 Share Posted May 9, 2016 fnma common up over 10% today. anyone hear rumors? Hah no wonder my broker asked me a ton of questions about Fnma when I called him up this morning....I knew something was weird. Chez, don't look at prices daily. Can't help ya. Nothing could go wrong here. http://m.ocregister.com/articles/percent-714878-credit-mortgage.html Link to comment Share on other sites More sharing options...
Guest cherzeca Posted May 9, 2016 Share Posted May 9, 2016 fnma common up over 10% today. anyone hear rumors? Hah no wonder my broker asked me a ton of questions about Fnma when I called him up this morning....I knew something was weird. Chez, don't look at prices daily. Can't help ya. Nothing could go wrong here. http://m.ocregister.com/articles/percent-714878-credit-mortgage.html cheez i often check prices. you think i only read briefs? Link to comment Share on other sites More sharing options...
hardincap Posted May 9, 2016 Share Posted May 9, 2016 @cherzeca apparently stansberry research put out a piece over the wkend recommending fnma as a buy Link to comment Share on other sites More sharing options...
Guest cherzeca Posted May 9, 2016 Share Posted May 9, 2016 @cherzeca apparently stansberry research put out a piece over the wkend recommending fnma as a buy stansberry has a checkered past, kinda sleazy. hope there is more to it than that Link to comment Share on other sites More sharing options...
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