Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 4363753 times)

Luke 5:32

  • Hero Member
  • *****
  • Posts: 2866
"You are life, You are life, in You death has lost its sting.  I'm running to Your arms, I'm running to Your arms.  The riches of Your love will always be enough, nothing compares to Your embrace.  Light of the world, forever reign." Listen: https://www.youtube.com/watch?v=ADuWzd7x25c


SnarkyPuppy

  • Hero Member
  • *****
  • Posts: 886
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15751 on: July 02, 2020, 06:38:03 AM »
When is the legal update released today?

SnarkyPuppy

  • Hero Member
  • *****
  • Posts: 886
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15752 on: July 02, 2020, 06:41:05 AM »
When is the legal update released today?

Looks like it was released w/ nothing on our cases - https://www.supremecourt.gov/orders/courtorders/070220zor_apl1.pdf

emily

  • Sr. Member
  • ****
  • Posts: 422
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15753 on: July 02, 2020, 06:53:48 AM »
Would that mean 'not denied' and no gvr and something else?

When is the legal update released today?

Looks like it was released w/ nothing on our cases - https://www.supremecourt.gov/orders/courtorders/070220zor_apl1.pdf

cherzeca

  • Hero Member
  • *****
  • Posts: 3351
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15754 on: July 02, 2020, 07:02:05 AM »
Would that mean 'not denied' and no gvr and something else?

When is the legal update released today?

Looks like it was released w/ nothing on our cases - https://www.supremecourt.gov/orders/courtorders/070220zor_apl1.pdf

it means they did nothing.  when nothing works, Emily, do nothing.  sound advice.
« Last Edit: July 02, 2020, 07:04:57 AM by cherzeca »

investorG

  • Hero Member
  • *****
  • Posts: 883
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15755 on: July 02, 2020, 07:12:12 AM »
Last year, the final opinion came on June 27.

Then, on Friday June 28 there was a 'miscellaneous order' that had a ton of grants and declines -- what scotusblog has called a cleanup order list.

After that, they went dormant for the summer break.

So maybe we have to wait for the final opinion to come out and then look for a clean up order list.  Or another day where there's a pre-announced order list incoming.

cherzeca

  • Hero Member
  • *****
  • Posts: 3351
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15756 on: July 02, 2020, 08:06:54 AM »
Last year, the final opinion came on June 27.

Then, on Friday June 28 there was a 'miscellaneous order' that had a ton of grants and declines -- what scotusblog has called a cleanup order list.

After that, they went dormant for the summer break.

So maybe we have to wait for the final opinion to come out and then look for a clean up order list.  Or another day where there's a pre-announced order list incoming.

there will generally always be a final clean up order.  what I dont know is how many more conferences and order days they will have.  the scotus schedule calendar is blank
« Last Edit: July 02, 2020, 09:13:21 AM by cherzeca »

Midas79

  • Hero Member
  • *****
  • Posts: 655
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15757 on: July 02, 2020, 12:57:29 PM »
Hannah Lang wrote an interesting article with some things I hadn't thought of.
https://www.americanbanker.com/news/fhfa-leadership-structure-on-shaky-ground-after-cfpb-ruling

Quote
Some even noted that a Biden administration could choose to rely on the Seila ruling to change the FHFA's leadership instead of waiting for a separate decision on the agency's structure.

...

Even if Calabria and the FHFA maintain that the Seila Law ruling does not affect the agency, he would be left with little choice if the president were to move to replace him, said Naimon.

“Calabria could try to resist being replaced by taking the position that he can only be fired for cause, but I think that is unlikely,” he said. “The Department of Justice would point to the Seila Law decision, but more importantly, any additional progress on his agenda would be impossible. Who would ever commit capital in that context? It has the effect of freezing everybody in place.”

Let's say SCOTUS goes the GVR route on Collins and Biden is elected, but when he takes office the Fifth Circuit hasn't ruled yet. What would the ramifications be if Biden just tells Calabria "you're fired"?

If Calabria just extends the middle finger and says "you can't do that", wouldn't recap and release be in trouble anyway because investors would have no idea what to expect from FHFA going forward? Presumably all this would happen before any re-IPO.

orthopa

  • Hero Member
  • *****
  • Posts: 1181
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15758 on: July 02, 2020, 01:27:32 PM »
Hannah Lang wrote an interesting article with some things I hadn't thought of.
https://www.americanbanker.com/news/fhfa-leadership-structure-on-shaky-ground-after-cfpb-ruling

Quote
Some even noted that a Biden administration could choose to rely on the Seila ruling to change the FHFA's leadership instead of waiting for a separate decision on the agency's structure.

...

Even if Calabria and the FHFA maintain that the Seila Law ruling does not affect the agency, he would be left with little choice if the president were to move to replace him, said Naimon.

“Calabria could try to resist being replaced by taking the position that he can only be fired for cause, but I think that is unlikely,” he said. “The Department of Justice would point to the Seila Law decision, but more importantly, any additional progress on his agenda would be impossible. Who would ever commit capital in that context? It has the effect of freezing everybody in place.”

Let's say SCOTUS goes the GVR route on Collins and Biden is elected, but when he takes office the Fifth Circuit hasn't ruled yet. What would the ramifications be if Biden just tells Calabria "you're fired"?

If Calabria just extends the middle finger and says "you can't do that", wouldn't recap and release be in trouble anyway because investors would have no idea what to expect from FHFA going forward? Presumably all this would happen before any re-IPO.

Doesnt the consent agreement take care of all of this? If Treasury is out of the picture and conservator enters into a consent agreement with FnF how can a new FHFA head alter the agreement and not follow the law as Calabria has said? That sound like a situation for more lawsuits.

cherzeca

  • Hero Member
  • *****
  • Posts: 3351
Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15759 on: July 02, 2020, 02:40:59 PM »
I don t have access to am banker but if any deal settling the senior prefs and exiting into consent decree involves the GSEs and cant be amended or terminated without all parties consent then you can imagine a flight path that cant be changed