Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 4363248 times)

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15840 on: August 01, 2020, 06:06:53 AM »
most recent comment letter to fhfa re proposed capital rule attached


orthopa

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15841 on: August 01, 2020, 07:57:28 AM »
ACG's latest (attached)

I find it interesting that they have the settlement window going out till mid June of next year. Once the capital rule is finalized Calabria should request capital restoration plans from FnF. MS and JPM  cannot give CRP without knowing what the final PSPA amendment is and the fate of the Jr Preferred, ie settlement. . ACGs timeline assumes a change in president so I not sure why there would be a delay into june of next year for the consent decree and settlement. The optimist in me thinks once the capital rule is finalized things should start to fall into line from requesting capital restoration plans to consent decree to raise capital in a fairly orderly fashion. If your Calabria and your goal is to build capital why drag your feet after the capital is finalized and we are past the election where or not Trump whens? Lets raise some capital!

Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15842 on: August 02, 2020, 08:35:52 AM »

I find it interesting that they have the settlement window going out till mid June of next year.

I found that particular piece interesting as well and a bit confusing.
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cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15843 on: August 02, 2020, 01:41:39 PM »
"Once the capital rule is finalized Calabria should request capital restoration plans from FnF. MS and JPM  cannot give CRP without knowing what the final PSPA amendment is and the fate of the Jr Preferred, ie settlement."

agree.  either things are going to go very quickly after Labor Day or Calabria is an incompetent fool.  I'm not giving odds...

investorG

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15844 on: August 03, 2020, 06:41:50 AM »
August is here.  This is the month that a 4th amendment should happen.

Biden - Warren will probably fire Calabria in January for cause.  The Seila oral arguments reinforced that the parameters to justify his firing are vague.   While Calabria may not be literally forced from the building until the courts rule, his powers would be greatly reduced during limbo.

Mnuchin and Calabria should act bravely this month.   A 4th amendment does not need the capital rule finalized, that is a separate track.   A consent decree can happen in the lame duck if necessary.

Good luck, everyone.

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15845 on: August 03, 2020, 07:54:38 AM »
August is here.  This is the month that a 4th amendment should happen.

Biden - Warren will probably fire Calabria in January for cause.  The Seila oral arguments reinforced that the parameters to justify his firing are vague.   While Calabria may not be literally forced from the building until the courts rule, his powers would be greatly reduced during limbo.

Mnuchin and Calabria should act bravely this month.   A 4th amendment does not need the capital rule finalized, that is a separate track.   A consent decree can happen in the lame duck if necessary.

Good luck, everyone.

I dont see anything happening until after Labor Day when final rule is to be promulgated.  nothing happens in DC in august anyhow. I think it is more likely to see things getting done in October than august.

allnatural

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15846 on: August 03, 2020, 06:06:23 PM »
I think ACG is putting the settlement window out to June simply bc it lines up with the latest SCOTUS has to rule on the Collins case. But you would think if they have conviction of a 4th amendment in Q4, that 4th amendment would decide the final treatment of the snr pfds. Theoretically if a 4th amendment includes writing down the snr pfds and a tax credit for the excess payments, the government doesnt need to engage with or "settle" anything with shareholders. They are simply giving them the remedy shareholder desired and would have the result of making the Collins case irrelevant.

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15847 on: August 03, 2020, 06:20:25 PM »
I think ACG is putting the settlement window out to June simply bc it lines up with the latest SCOTUS has to rule on the Collins case. But you would think if they have conviction of a 4th amendment in Q4, that 4th amendment would decide the final treatment of the snr pfds. Theoretically if a 4th amendment includes writing down the snr pfds and a tax credit for the excess payments, the government doesnt need to engage with or "settle" anything with shareholders. They are simply giving them the remedy shareholder desired and would have the result of making the Collins case irrelevant.

agree.  I get the sense that calabria (and mnuchin) want to take care of things on their own, let the litigation become moot by their action and let the junior prefs deal with the GSEs and their financial advisors down the road.  I have the sense that you will see a 4th A having such terms and at the time of their choosing, and if it gives Ps all they would get by way of remedy, then no need to engage other than to simply go into court and say the cases have been mooted by 4th A...recall Calabria saying that the litigation will "take care of itself".  but recall one part of the litigation landscape involves the question of his own possible longevity, so if he doesnt give Ps what they want and biden is elected, he can ride off into the sunset on his mule

Midas79

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15848 on: August 05, 2020, 01:04:26 PM »
How often do cases in front of SCOTUS get settled after oral arguments but before an opinion is issued? Do the Justices frown on this given their vast caseload and limited resources, or is it similar to lower courts where they are glad it happened so they can devote said resources elsewhere?

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #15849 on: August 05, 2020, 02:35:31 PM »
How often do cases in front of SCOTUS get settled after oral arguments but before an opinion is issued? Do the Justices frown on this given their vast caseload and limited resources, or is it similar to lower courts where they are glad it happened so they can devote said resources elsewhere?

after oral arg, very rarely. after cert grant but before oral argument, rarely.  there was recent case involving NY gun laws, where NY passed a revision to litigated law that mooted the case after cert grant but before oral arg.  some judges get pissed (Alito), most just roll onto next case