Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 3722797 times)

DRValue

  • Sr. Member
  • ****
  • Posts: 424
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10800 on: November 14, 2018, 10:33:10 AM »
@cherzeca

Is there anything that can be done about the precedential 3rd circuit opinion denying plaintiffs?

It strikes me as a peculiarity that the court won't rule against the fhfa because it will inconvenience them.

We're a long way from private property rights when the government can make a law to take your property but it isn't unconstitutional because it will inconvenience the government.
[E]xpedience does not license omnipotence.

Not Investment Advice. Do Your Own Research.


Midas79

  • Hero Member
  • *****
  • Posts: 553
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10801 on: November 14, 2018, 11:56:21 AM »
http://www2.ca3.uscourts.gov/opinarch/173794p.pdf

From today's Third Circuit affirmance (page 24)

Quote
Here, the challengers’ claims fall into none of th ese catego - ries. They are not constitutional. They have not gone through the Recovery Act’s administrative process. They do not flow from  ultra  vires  agency  action.  And  they  are  not  claims  for  breach of contract .

The claim Lamberth allowed to process was breach of contract, right? And the claims in front of Sweeney are Constitutional claims. It looks like this ruling shouldn't affect those cases in that regard.

Later on page 24

Quote
Even apart from the declaratory aspect, awarding monetary relief  would  restrain  or  affect  the  Agency’s  c onservatorship. The   request   for   damages,   disgorgement,   and   restitution,   against both the Agency and the Treasury, would (as the chal - lengers  concede)  unravel  the  Third  Amendment,  reverse  the  monetary payments made under it, and prevent or at least deter the Agency from implementing it further.

How does Treasury writing a check to shareholders unravel the NWS? It doesn't make any sense to me.

cherzeca

  • Hero Member
  • *****
  • Posts: 2444
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10802 on: November 14, 2018, 12:09:30 PM »
the third circuit opinion is horrendous but it will be very difficult to get a rehearing.  the opinion cites no cases for the Delaware law analysis, because there are none on point, NWS is a case of first impression.  maybe Ps can argue that case should be stayed until Delaware S. Ct advisory opinion.  very unlikely

the big news of the last two days is collins rehearing.  that is the one to watch!

DRValue

  • Sr. Member
  • ****
  • Posts: 424
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10803 on: November 14, 2018, 12:13:55 PM »
the third circuit opinion is horrendous but it will be very difficult to get a rehearing.  the opinion cites no cases for the Delaware law analysis, because there are none on point, NWS is a case of first impression.  maybe Ps can argue that case should be stayed until Delaware S. Ct advisory opinion.  very unlikely

the big news of the last two days is collins rehearing.  that is the one to watch!

But we've had these ones to watch before though. Personally I'm no longer relying on lawsuits. I'm just mad cos it seems like courts are determined to rule for the government and ignore anything to the contrary. It wreaks of corruption.
Like you say the 3rd circuit is horrendous. I don't know how they can believe they won't get called out on it.
« Last Edit: November 14, 2018, 12:24:21 PM by DRValue »
[E]xpedience does not license omnipotence.

Not Investment Advice. Do Your Own Research.

blackcoffee

  • Jr. Member
  • **
  • Posts: 95
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10804 on: November 14, 2018, 04:28:11 PM »
You don’t understand, it is a value stock. We should keep holding it till 2028 and beyond. They are saying “let us hide behind ‘congressional action’ rhetoric so that we can finish the two to bankrupt companies, it’s coming with home prices down and we have been successful doing this over a decade and the media is in our side where none of them is reporting the loot”. Can’t fight the city hall, judges are political appointee and know what a wink means.

“White house to address housing finance in near future”,  don’t be mistaken, near means another 10 years. They said in 2016, the term ‘near’ many times and we are in 2019 soon. Truth is they love the sweep money : it is sweet and stolen.

https://subscriber.politicopro.com/financial-services/whiteboard/2018/11/adviser-white-house-to-address-housing-finance-in-the-near-future-2198950

Trump voice " you mean to tell me if I do nothing I keep getting all the money, but if I try to do the right thing I lose the money?"

lol what do you think someone like Trump is going to do in that situation?

cherzeca

  • Hero Member
  • *****
  • Posts: 2444
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10805 on: November 14, 2018, 04:31:38 PM »
You don’t understand, it is a value stock. We should keep holding it till 2028 and beyond. They are saying “let us hide behind ‘congressional action’ rhetoric so that we can finish the two to bankrupt companies, it’s coming with home prices down and we have been successful doing this over a decade and the media is in our side where none of them is reporting the loot”. Can’t fight the city hall, judges are political appointee and know what a wink means.

“White house to address housing finance in near future”,  don’t be mistaken, near means another 10 years. They said in 2016, the term ‘near’ many times and we are in 2019 soon. Truth is they love the sweep money : it is sweet and stolen.

https://subscriber.politicopro.com/financial-services/whiteboard/2018/11/adviser-white-house-to-address-housing-finance-in-the-near-future-2198950

Trump voice " you mean to tell me if I do nothing I keep getting all the money, but if I try to do the right thing I lose the money?"

lol what do you think someone like Trump is going to do in that situation?

at which point Paulson and schwarzman tell Donald hey it's our money not your effing money

Eye4Valu

  • Sr. Member
  • ****
  • Posts: 371
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10806 on: November 14, 2018, 06:50:08 PM »
You don’t understand, it is a value stock. We should keep holding it till 2028 and beyond. They are saying “let us hide behind ‘congressional action’ rhetoric so that we can finish the two to bankrupt companies, it’s coming with home prices down and we have been successful doing this over a decade and the media is in our side where none of them is reporting the loot”. Can’t fight the city hall, judges are political appointee and know what a wink means.

“White house to address housing finance in near future”,  don’t be mistaken, near means another 10 years. They said in 2016, the term ‘near’ many times and we are in 2019 soon. Truth is they love the sweep money : it is sweet and stolen.

https://subscriber.politicopro.com/financial-services/whiteboard/2018/11/adviser-white-house-to-address-housing-finance-in-the-near-future-2198950

Trump voice " you mean to tell me if I do nothing I keep getting all the money, but if I try to do the right thing I lose the money?"

lol what do you think someone like Trump is going to do in that situation?

He'll actually make more money by doing the right thing, which is a powerful incentive for a guy like him. But don't get me wrong, I'm not trying to convince the peanut gallery.

emily

  • Sr. Member
  • ****
  • Posts: 383
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10807 on: November 15, 2018, 09:43:15 AM »
Under ICBA response filed yesterday:

No additional authority from Congress is needed to put the GSEs on a path to become fully recapitalized. Furthermore, fully recapitalizing the GSEs does not in any way prevent legislative reforms.”

They cite 12 U.S.C. §1143 (2008) . What is that?

https://www.fhfa.gov//SupervisionRegulation/Rules/Pages/Comment-Detail.aspx?CommentId=15273

orthopa

  • Hero Member
  • *****
  • Posts: 803
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10808 on: November 15, 2018, 01:59:48 PM »
Anyone aware of the politico tweet regarding White house addressing housing finance in near future?

cherzeca

  • Hero Member
  • *****
  • Posts: 2444
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10809 on: November 15, 2018, 02:08:51 PM »
Anyone aware of the politico tweet regarding White house addressing housing finance in near future?

tweet refers to a politico pro article which is behind paywall.  if anyone can provide color that would be great