FNMA Company info 08/14/2014 22:25:50 $FNMA
I already picked my chair and another ihubber. When you circle around and walk up towards the bar, then go right, the first circle of chairs, lounge and table. Go Fannie!
IMO this has been a great in and out, in and out trade in 2014. It has consistently gapped and filled. And now the death match between the government and private citizens for control of the company begins. Truth always wins.
FNMA
Reading the Pershing Square Ackman complaint really puts the spot light on how corrupt our government is. The fact that Paulson, Geithner, De Marco, Lew and Frank are out roaming around free when they should be in prison makes my blood boil. This is still the United States of America though and I have faith that we will win this. GO FANNIE AND FREDDIE!!
Ackman will win, no doubt in my mind...Wynn here we come, gunna get it warmed up this week for my birthday celebration 55...blue skies on their way!
Discovery will provide the evidence Ackman needs to , in effect, declare "game,..set,...match"
oooh that's good!
Ackman suing is brilliant, here is why.
Luke 21:1-4New King James Version (NKJV)
The Widow’s Two Mites
21 And He looked up and saw the rich putting their gifts into the treasury, 2 and He saw also a certain poor widow putting in two mites. 3 So He said, “Truly I say to you that this poor widow has put in more than all; 4 for all these out of their abundance have put in offerings for God,[a] but she out of her poverty put in all the livelihood that she had.”
Complaint by PSquare filed behalf of commons 8-14-14
Learned some things and realized Pershing Square et al are brilliant!
I'm putting the link to the complaint filed today. Wow! just Wow!
http://www.scribd.com/doc/236850558/Verified-...ing-Square
Bearish outlook is different from endless whining (one can whine once or twice but not non stop) ... the chart was never bearish for the last 5 months - we have been trading in a very clear channel between approximately $3.75 and $4.86.
Daily traders' charts are different as they as you know check the charts by the minute.
So, if someone is really long, there was absolutely nothing to whine about lately as the trading has been perfectly normal.
The chart show a perfect time to a breaking up , actually it's due for 2-3 weeks ago,RSI:44.64, MFI:27.25(remember 3 weeks ago was over 80)don't facilitated the run up,and BB pinching back.
The long symmetrical triangle don't break up like it's supposes to do 2 weeks ago , anyway the accumulation period(last 4 months)build a strong support around 4.00 level,if another spike happen in near term and I hope will do(around $$8.00),this level 4.00 going to be a strong bottom if a retracement happen like before!! I personally buy some more shares the last 3 days add to my long position,never have enough! addict to FnF,yes I do!And coming from the conviction FnF are the backbone of our country and shareholders are backup by The Constitution of the U.S.A ,GO FnF
Kab have just sat down and gave it a quick read. This line stands out !!
"Rather than conserving the companies' assets, Defendants are confiscating the entire net worth of the companies and effectively liquidating them under the guise of conservatorship"
$$ FNMA $$
Pershing Square sues U.S. over Fannie, Freddie
(on behalf of the Common Shareholders .... love the continued PRESSURE !)
Aug. 14, 2014, 7:17 p.m. EDT
By Juliet Chung, Joe Light and Nick Timiraos
William Ackman’s Pershing Square Capital Management LP, which has taken sizable stakes in the common shares of Fannie Mae and Freddie Mac, filed a lawsuit Thursday against the U.S. government, challenging its bailout terms for the mortgage-finance giants.
Pershing Square’s suit, filed Thursday in the U.S. Court of Federal Claims in Washington D.C., is the latest investor action challenging the government’s 2012 decision to force Fannie FNMA +3.64% and Freddie FMCC +3.93% to send nearly all of their profits to the U.S. Treasury as dividends. The New York hedge fund is joined in the suit by three individuals who are longtime investors of Fannie Mae common shares.
While the U.S. faces nearly 20 lawsuits from investors, including hedge-fund firm Perry Capital LLC and mutual-fund company Fairholme Capital Management LLC, most investors have sued to challenge the treatment of shareholders in the firms’ “preferred” stock, a form of equity that is senior to common stock and that made regular dividends before the government took the companies over.
Pershing Square’s suit focuses on the treatment of common shareholders.
While Pershing Square owns some preferred shares, the vast majority of its holdings are in common stock. In filings last November, Pershing disclosed it had spent a total of about $400 million on a nearly 10% stake in each firm. Mr. Ackman believes the common stock has more upside than the preferred shares, The Wall Street Journal previously reported, though they are seen by some as riskier investments.
The suit seeks “just compensation” for the plaintiffs but doesn’t specify an amount.
The lawsuit alleges that the government’s “brazen conduct…is illegal.”
A Treasury spokesman declined to comment. Spokesmen for Fannie Mae and Freddie Mac also declined to comment.
Thank you! I'm glad (surprised), but definitely glad he felt he could speak openly.
Most definitely
IMO
Still have my .25zzz... among others
FANNIE LONG AND STRONG lol
FNMA
Investors Unite Press Conference Yesterday in Atlanta - Ending the Conservatorship
Fannie Mae and Freddie Mac Investors in Atlanta Implore Government to Follow The Rule of Law
- August 14, 2014
Individual investors in mortgage-giants Fannie Mae and Freddie Mac today implored Federal Housing Finance Agency Director Mel Watt to exercise his authority to end the illegal taking of investor dividends through a federal conservatorship that was slipped into law two years ago.
“As of today, the majority of my retirement savings are invested in Fannie and Freddie,” said investor Upendra Kulkarni, who owns a small IT consulting business in Alpharetta, GA. “Before and after the economic downtown in 2008, I decided to invest in the companies as they supported millions of Americans in fulfilling their American Dream of homeownership.”
At the same time, the government infused $187.5 billion into Fannie and Freddie to ensure that these important institutions did not fail. While this was an expensive action, the alternative – allowing Fannie and Freddie to fail and thereby ensuring that the mortgages they held would go into default – was unthinkable. Unlike the auto bailouts, the tax dollars were provided as a loan, and as of March 2014, both Fannie Mae and Freddie Mac have fully repaid that loan. “Even the notion that Fannie and Freddie were in trouble is being challenged. Of the $187.5 billion they were advanced, much of that money really wasn’t needed. And it was paid back in a very quick manner. As of March 2014, the loans were fully repaid and then some. In fact, Fannie and Freddie paid the government $40 billion over what they received. That money is currently being used to offset the deficit instead of going back and helping recapitalize the housing industry.” said Tim Pagliara, a former Fannie Mae executive and chairman of Investors Unite, a coalition of more than 800 Fannie Mae and Freddie Mac investors who are petitioning the government to end the conservatorship.
In August 2012, however, the U.S. Treasury enacted a Third Amendment “sweep” of Fannie Mae’s and Freddie Mac’s dividend profits, claiming all of the companies’ profits for the federal government. Since then, Fannie and Mae have paid more than $40 billion to the greater Treasury fund instead of investors earning the dividends they are contractually owed as a result of their investments.
“This marks a historic milestone in the government’s blatant disregard for the rule of law and disrespect for marketplace standards,” Mr. Pagliara said.
Mr. Pagliara’s and Mr. Kulkarni’s remarks came during a press briefing in advance of an event hosting by Director Watt to address affordable housing options for Atlanta-area residents. Mr. Watt so far has declined to meet with investors to discuss ending the conservatorship.
“I am pleased that Director Watt is taking to the road to discuss importance issues in housing finance reform and the Federal Housing Finance Agency,” Mr. Pagliara said. “It is essential that these issues are brought forth to those that these decisions will impact the most and that every stakeholder has a seat at the table to discuss why housing reform is important.”
While partisan gridlock in Washington, D.C., is often faulted for holding up important pieces of legislation that could help the American people, in this case, it is protecting current and future homeowners against misguided GSE reform legislation that fail to address the government’s overreach into the housing market. Reforms must focus on the fundamentals of transparency and fairness if they are to ensure a robust housing market that benefits bot underserved populations and millennials looking to jumpstart their own American Dream.
Mr. Pagliara and other investors expressed hope that they would be able to meet with Mr. Watt while he was in Atlanta to address an end to the conservatorship. During his remarks, Mr. Pagliara referenced an opinion piece from a close colleague of Mr. Watt’s days it the U.S. House of Representatives. Mr. Watt and former Congresswoman Eva Clayton represented parts of North Carolina.
“A strong housing market requires private capital, and private capital follows the rule of law,” Mr. Pagliara quoted from Ms. Clayton’s op-ed in the Charlotte Observer.
While some have argued that investors should be cut out of the loop entirely, Mr. Kulkarni, who spoke for hundreds of his fellow investors, made clear what is at stake if the government continues its illegal actions of taking all of Fannie Mae’s and Freddie Mac’s dividend profits.
“The government’s conservatorship and Third Amendment Sweep leave me holding nothing,” Mr. Kulkarni said. “This behavior sets a bad precedent, sending the message that the government can takeover shares of a company without any explanation or compensation plan for shareholders. Individual investors are hanging in the balance, wondering if we will ever recover the money we invested in the U.S. housing system for our retirement, for our children’s education, and for general savings. It is time that we are heard and those in charge pay attention. We are not hedge funds or big banks, we are Americans demanding the government does what is right and follows the rule of law.”
Cool, thank you for reporting on this, go Fannie
Nice position. Dont know how far she goes. I am gonna keep my eye on the usual during a run; resistances, RSI, MFI. Hope we break that 6. It would be awesome. Chart is completely primed for takeoff. GL.
I already picked my chair and another ihubber. When you circle around and walk up towards the bar, then go right, the first circle of chairs, lounge and table. Go Fannie!
IMO this has been a great in and out, in and out trade in 2014. It has consistently gapped and filled. And now the death match between the government and private citizens for control of the company begins. Truth always wins.
FNMA
Reading the Pershing Square Ackman complaint really puts the spot light on how corrupt our government is. The fact that Paulson, Geithner, De Marco, Lew and Frank are out roaming around free when they should be in prison makes my blood boil. This is still the United States of America though and I have faith that we will win this. GO FANNIE AND FREDDIE!!
Ackman will win, no doubt in my mind...Wynn here we come, gunna get it warmed up this week for my birthday celebration 55...blue skies on their way!
Discovery will provide the evidence Ackman needs to , in effect, declare "game,..set,...match"
oooh that's good!
Ackman suing is brilliant, here is why.
Luke 21:1-4New King James Version (NKJV)
The Widow’s Two Mites
21 And He looked up and saw the rich putting their gifts into the treasury, 2 and He saw also a certain poor widow putting in two mites. 3 So He said, “Truly I say to you that this poor widow has put in more than all; 4 for all these out of their abundance have put in offerings for God,[a] but she out of her poverty put in all the livelihood that she had.”
Complaint by PSquare filed behalf of commons 8-14-14
Learned some things and realized Pershing Square et al are brilliant!
I'm putting the link to the complaint filed today. Wow! just Wow!
http://www.scribd.com/doc/236850558/Verified-...ing-Square
Bearish outlook is different from endless whining (one can whine once or twice but not non stop) ... the chart was never bearish for the last 5 months - we have been trading in a very clear channel between approximately $3.75 and $4.86.
Daily traders' charts are different as they as you know check the charts by the minute.
So, if someone is really long, there was absolutely nothing to whine about lately as the trading has been perfectly normal.
The chart show a perfect time to a breaking up , actually it's due for 2-3 weeks ago,RSI:44.64, MFI:27.25(remember 3 weeks ago was over 80)don't facilitated the run up,and BB pinching back.
The long symmetrical triangle don't break up like it's supposes to do 2 weeks ago , anyway the accumulation period(last 4 months)build a strong support around 4.00 level,if another spike happen in near term and I hope will do(around $$8.00),this level 4.00 going to be a strong bottom if a retracement happen like before!! I personally buy some more shares the last 3 days add to my long position,never have enough! addict to FnF,yes I do!And coming from the conviction FnF are the backbone of our country and shareholders are backup by The Constitution of the U.S.A ,GO FnF
Kab have just sat down and gave it a quick read. This line stands out !!
"Rather than conserving the companies' assets, Defendants are confiscating the entire net worth of the companies and effectively liquidating them under the guise of conservatorship"
$$ FNMA $$
Pershing Square sues U.S. over Fannie, Freddie
(on behalf of the Common Shareholders .... love the continued PRESSURE !)
Aug. 14, 2014, 7:17 p.m. EDT
By Juliet Chung, Joe Light and Nick Timiraos
William Ackman’s Pershing Square Capital Management LP, which has taken sizable stakes in the common shares of Fannie Mae and Freddie Mac, filed a lawsuit Thursday against the U.S. government, challenging its bailout terms for the mortgage-finance giants.
Pershing Square’s suit, filed Thursday in the U.S. Court of Federal Claims in Washington D.C., is the latest investor action challenging the government’s 2012 decision to force Fannie FNMA +3.64% and Freddie FMCC +3.93% to send nearly all of their profits to the U.S. Treasury as dividends. The New York hedge fund is joined in the suit by three individuals who are longtime investors of Fannie Mae common shares.
While the U.S. faces nearly 20 lawsuits from investors, including hedge-fund firm Perry Capital LLC and mutual-fund company Fairholme Capital Management LLC, most investors have sued to challenge the treatment of shareholders in the firms’ “preferred” stock, a form of equity that is senior to common stock and that made regular dividends before the government took the companies over.
Pershing Square’s suit focuses on the treatment of common shareholders.
While Pershing Square owns some preferred shares, the vast majority of its holdings are in common stock. In filings last November, Pershing disclosed it had spent a total of about $400 million on a nearly 10% stake in each firm. Mr. Ackman believes the common stock has more upside than the preferred shares, The Wall Street Journal previously reported, though they are seen by some as riskier investments.
The suit seeks “just compensation” for the plaintiffs but doesn’t specify an amount.
The lawsuit alleges that the government’s “brazen conduct…is illegal.”
A Treasury spokesman declined to comment. Spokesmen for Fannie Mae and Freddie Mac also declined to comment.
Thank you! I'm glad (surprised), but definitely glad he felt he could speak openly.
Most definitely
IMO
Still have my .25zzz... among others
FANNIE LONG AND STRONG lol
FNMA
Investors Unite Press Conference Yesterday in Atlanta - Ending the Conservatorship
Fannie Mae and Freddie Mac Investors in Atlanta Implore Government to Follow The Rule of Law
- August 14, 2014
Individual investors in mortgage-giants Fannie Mae and Freddie Mac today implored Federal Housing Finance Agency Director Mel Watt to exercise his authority to end the illegal taking of investor dividends through a federal conservatorship that was slipped into law two years ago.
“As of today, the majority of my retirement savings are invested in Fannie and Freddie,” said investor Upendra Kulkarni, who owns a small IT consulting business in Alpharetta, GA. “Before and after the economic downtown in 2008, I decided to invest in the companies as they supported millions of Americans in fulfilling their American Dream of homeownership.”
At the same time, the government infused $187.5 billion into Fannie and Freddie to ensure that these important institutions did not fail. While this was an expensive action, the alternative – allowing Fannie and Freddie to fail and thereby ensuring that the mortgages they held would go into default – was unthinkable. Unlike the auto bailouts, the tax dollars were provided as a loan, and as of March 2014, both Fannie Mae and Freddie Mac have fully repaid that loan. “Even the notion that Fannie and Freddie were in trouble is being challenged. Of the $187.5 billion they were advanced, much of that money really wasn’t needed. And it was paid back in a very quick manner. As of March 2014, the loans were fully repaid and then some. In fact, Fannie and Freddie paid the government $40 billion over what they received. That money is currently being used to offset the deficit instead of going back and helping recapitalize the housing industry.” said Tim Pagliara, a former Fannie Mae executive and chairman of Investors Unite, a coalition of more than 800 Fannie Mae and Freddie Mac investors who are petitioning the government to end the conservatorship.
In August 2012, however, the U.S. Treasury enacted a Third Amendment “sweep” of Fannie Mae’s and Freddie Mac’s dividend profits, claiming all of the companies’ profits for the federal government. Since then, Fannie and Mae have paid more than $40 billion to the greater Treasury fund instead of investors earning the dividends they are contractually owed as a result of their investments.
“This marks a historic milestone in the government’s blatant disregard for the rule of law and disrespect for marketplace standards,” Mr. Pagliara said.
Mr. Pagliara’s and Mr. Kulkarni’s remarks came during a press briefing in advance of an event hosting by Director Watt to address affordable housing options for Atlanta-area residents. Mr. Watt so far has declined to meet with investors to discuss ending the conservatorship.
“I am pleased that Director Watt is taking to the road to discuss importance issues in housing finance reform and the Federal Housing Finance Agency,” Mr. Pagliara said. “It is essential that these issues are brought forth to those that these decisions will impact the most and that every stakeholder has a seat at the table to discuss why housing reform is important.”
While partisan gridlock in Washington, D.C., is often faulted for holding up important pieces of legislation that could help the American people, in this case, it is protecting current and future homeowners against misguided GSE reform legislation that fail to address the government’s overreach into the housing market. Reforms must focus on the fundamentals of transparency and fairness if they are to ensure a robust housing market that benefits bot underserved populations and millennials looking to jumpstart their own American Dream.
Mr. Pagliara and other investors expressed hope that they would be able to meet with Mr. Watt while he was in Atlanta to address an end to the conservatorship. During his remarks, Mr. Pagliara referenced an opinion piece from a close colleague of Mr. Watt’s days it the U.S. House of Representatives. Mr. Watt and former Congresswoman Eva Clayton represented parts of North Carolina.
“A strong housing market requires private capital, and private capital follows the rule of law,” Mr. Pagliara quoted from Ms. Clayton’s op-ed in the Charlotte Observer.
While some have argued that investors should be cut out of the loop entirely, Mr. Kulkarni, who spoke for hundreds of his fellow investors, made clear what is at stake if the government continues its illegal actions of taking all of Fannie Mae’s and Freddie Mac’s dividend profits.
“The government’s conservatorship and Third Amendment Sweep leave me holding nothing,” Mr. Kulkarni said. “This behavior sets a bad precedent, sending the message that the government can takeover shares of a company without any explanation or compensation plan for shareholders. Individual investors are hanging in the balance, wondering if we will ever recover the money we invested in the U.S. housing system for our retirement, for our children’s education, and for general savings. It is time that we are heard and those in charge pay attention. We are not hedge funds or big banks, we are Americans demanding the government does what is right and follows the rule of law.”
Cool, thank you for reporting on this, go Fannie
Nice position. Dont know how far she goes. I am gonna keep my eye on the usual during a run; resistances, RSI, MFI. Hope we break that 6. It would be awesome. Chart is completely primed for takeoff. GL.
