Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 4520171 times)

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13670 on: September 10, 2019, 05:50:20 AM »
What happens if the Collins case gets settled before Judge Atlas makes a ruling? Can Calabria still be fired at will by the president, or will it be as if the case had never happened, meaning that the en banc ruling would not be in force and Calabria would continue to enjoy for-cause removal protection?

If it's the latter, that could be a carrot the plaintiffs could dangle for FHFA in settlement talks, allowing Calabria to stay in office until 2024 as long as he doesn't do something really stupid.

Collins en banc cannot be undone by settlement. Fhfa removal for cause will be uncertain until scotus clarifies


rros

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Midas79

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rros

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13673 on: September 10, 2019, 07:14:34 AM »
Mnuchin prepared remarks for Tuesday...
Thank you. It is clear from his prepared remarks how much needed that explicit guarantee is for the normalcy of the GSEs debt market.
So a) narrow, explicit, paid-for guarantee; b) charter away. My guess, Brown is not going to like neither a) nor b). And given how clear Treasury's path is there may not be much talk about the 5cc ruling. Treasury will still work with FHFA on a 4th amendment, anyway and anyday.

brown will piss all over congressional reform, and warren if she shows up wont piss on it, she'll be all #2.
lol looks like Sherrod Brown didn't need any help from Warren to spew his hate of wall st.


orthopa

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13675 on: September 10, 2019, 07:33:34 AM »
NWS ending by the end of this month seems a certainty by now by Mnuchins comments.

Midas79

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13676 on: September 10, 2019, 07:40:43 AM »
NWS ending by the end of this month seems a certainty by now by Mnuchins comments.

Yes. It would make far more sense to do it before September ends than drag into October and possibly have to deal with one more payment.

Might the September 30 payment still be made because it was for Q2's earnings? Or was June's NWS payment the last one ever? This could matter if Treasury tries to keep some or all of the $25B overage (perhaps soon to be more) as part of settling the court cases; they are evidently thinking about appealing the Count I ruling from the Fifth Circuit per Mnuchin's short pre-hearing interview this morning.

It seems either ironic or carefully planned that the NWS will be ended by the administration just after a court finally called it ultra vires.

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13677 on: September 10, 2019, 07:54:00 AM »
my biggest fear was that sen. crapo would ask admin reform to stop pending congressional analysis of plan suggestions for congressional reform, and he did the EXACT OPPOSITE. crapo encouraged the administration to ACT

so the rest of this SBC hearing is gravy for me

investorG

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13678 on: September 10, 2019, 07:55:50 AM »
we will see but ideally the purpose of mnuchin's commentary to olick on CNBCTV about appealing Collins to the supreme court was a warning shot to the plaintiffs to avoid unnecessary greed in any potential negotiations.

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #13679 on: September 10, 2019, 07:56:00 AM »
NWS ending by the end of this month seems a certainty by now by Mnuchins comments.

Yes. It would make far more sense to do it before September ends than drag into October and possibly have to deal with one more payment.

Might the September 30 payment still be made because it was for Q2's earnings? Or was June's NWS payment the last one ever? This could matter if Treasury tries to keep some or all of the $25B overage (perhaps soon to be more) as part of settling the court cases; they are evidently thinking about appealing the Count I ruling from the Fifth Circuit per Mnuchin's short pre-hearing interview this morning.

It seems either ironic or carefully planned that the NWS will be ended by the administration just after a court finally called it ultra vires.

based on what I heard and how it was said, I expect the 2Q distribution to be not made.  that does not mean the senior preferred will vanish at this time, but it is an important first step