FNMA News 08/28/2014 15:29:20 $FNMA
Thank you
Lol thanks
FNMA Stock Message Board http://investorshangout.com/Fannie-Mae-FNMA-61730/
Yea!!! Close at LOD!! Tomorrow not looking good!! Pisses me off!!
Brilliant post.
Heedunk, isn't there a board for all time lamest posts. If not your post can start it. Even the worst basher puts forth more effort.
Not so fast. On the contrary, the BOD's of both companies had much to say in the matter, per the Pershing court filing - page 13 item 40,
Quote:
Upon information and belief, FHFA obtained the consent of the companies' boards of directors to conservatorship in part on the ground that conservatorship would serve the interests of their shareholders. Conservatorship, unlike receivership, does not "terminate" the rights of shareholders. Id. § 4617(b)(2)(K)(i). Upon information and belief, in exchange for FHFA's promise, the companies' boards agreed not to challenge FHFA's status as conservator.
p.13, Items 40, 41 & 42 from Ackman's Complaint:
https://timhoward717.files.wordpress.com/2014...aint-2.pdf
Furthermore:
1. Conservatorship was illegal. HERA states 12 grounds for conservatorship. None of these were met.
2. FHFA was not operating as an independent agency as directed by HERA. It was taking it's marching orders from the Executive Branch.
3. Gov used intimidation and coercion to 'obtain consent'. BOD 'consent' was by no means voluntary as indicated in the Berman lawsuit:
Quote:
69. Despite admitting to having “analyzed in great detail the current financial condition of the GSEs” for a four-week period prior to the imposition of the conservatorships, the Government intended to keep this plan secret until the last possible minute. As explained in Secretary Paulson’s memoir, On the Brink, the Secretary met with President George W. Bush only three days before the conservatorships were publicly announced and told him that “[w]e’re going to move quickly and take them by surprise. The first sound they’ll hear is their heads hitting the floor.”
70. In his September 7, 2008 statement announcing this unprecedented Government action, Lockhart misleadingly stated that “ he Boards of both companies consented yesterday to the conservatorship.” However, the Board’s “consent” was by no means voluntary. On the contrary, it was obtained through intimidation and coercion by the Government. Just two days prior to the September 7th announcement, Paulson and other top governmental officials had summoned the senior executives at Fannie Mae and Freddie Mac to secret meetings, where they were told that they would either accept Government control within 24 hours or the Government would impose it by force. Paulson misleadingly told them that “[w]e have the grounds to do this on an involuntary basis, and we will go that course if needed.”
71. In a 2009 speech, Mudd explained that “we were given 24 hours to accede to a government takeover – or else the government would effectively go to war against the company.” The FCIC concluded that “[e]ssentially the GSEs faced a Hobson’s choice: take the horse offered or none at all.” Secretary Paulson himself told the Commission that the Government team made “a very strong case so the board of directors did not have a choice” and that he told the Companies that, while the Government had authority to inject capital into them, it would not do so unless they were in conservatorship. This was a dramatically different scenario than what recently had been described by Senator Isakson, in explaining the intention of HERA, as granting “access to the Treasury window” much like the access to capital that is given to banks. In fact, the access to capital from the Treasury was being provided to Fannie Mae and Freddie Mac on far more onerous and extremely costly terms, which were severely detrimental to the private property interests of their shareholders, and the boards of directors at the Companies were not given any real choice in the matter. As Paulson later explained to the FCIC, “I believed the very best way to get them to agree on a friendly basis was to say ‘there’s a hard way and an easy way, and we hope and expect them to take [the] easy way. Which they did.[’]”
http://www.restorefanniemae.us/berman
4. In addition, "Treasury exercised it's emergency authority to purchase securities of the companies". A state of emergency at that time did not exist. A state of emergency had not, at any time, been declared by the Federal Government. Warrants are null and void.
Quote:
As far as an "agreement" being made...it was pointed out that I was incorrect when the warrants were actually issued...it was AFTER the boards agreed to conservatorship. So...based on that, the BOD of both companies had no say in the matter...the director of FHFA was in total control and had/has absolute power of decision.
Per the Pershing court filing - page 13 item 41 & 42
https://timhoward717.files.wordpress.com/2014...aint-2.pdf
Now the question is...did FHFA lie to the BOD...or did the BOD agree prior to C-ship...we don't know. I don't think there is a public record of those conversations...could be there is...maybe we will get some good stuff about this coming out in court. I would venture we will never know that answer, but I would certainly like to know if the BOD tossed us under the bus as well to appease the political machine.
Those bollies are getting really tight!
Your brain is short. Accept it.
I'm long and up 730%. I'm not an old lady either.
Tincupx, this is just another, who has no life whatsoever. An obviously definite newb who does not know how to trade and is a pretender. Why they come here to post is beyond me but stupid is as stupid does, again and again and again!
It's amazing you have the motivation and passion to even worry about our investment in this particular stock. It shows just how bored you are with your own trading or simply a need for some type of interaction. Either way you don't know shit just like anyone else
the gov was charged with overseeing the entities prior to the bail out. any risk they bore was justifiable due to years of political tampering and poor oversight. f and f were required to stay in the market during the downturn and were used as a tool to save other private market actors. f and f bailed out the country not the other way around....
also, hedge funds have followed the law and the government has not. not following laws that you created and stealing from your own citizenry...
stupid is as stupid does.
This isn't going to run anymore guys, give it up
Lead by example
The best way to treat these shorty clowns is to joke. Poor devils.
Thank you for the support, that person could have never taken math 101.
At the highest gain yesterday has now all been takin back!!! That's was great news that lasted half a day to push pps.. No news or lil bad always kills the pps for days or weeks...
September 5th Fairholme/Sweeney
Your right, stupid is as stupid does. So unless you own FnF stock, why are you here? Stupid is as stupid does when it has no life!
Thank you
Lol thanks
FNMA Stock Message Board http://investorshangout.com/Fannie-Mae-FNMA-61730/
Yea!!! Close at LOD!! Tomorrow not looking good!! Pisses me off!!
Brilliant post.
Heedunk, isn't there a board for all time lamest posts. If not your post can start it. Even the worst basher puts forth more effort.
Not so fast. On the contrary, the BOD's of both companies had much to say in the matter, per the Pershing court filing - page 13 item 40,
Quote:
Upon information and belief, FHFA obtained the consent of the companies' boards of directors to conservatorship in part on the ground that conservatorship would serve the interests of their shareholders. Conservatorship, unlike receivership, does not "terminate" the rights of shareholders. Id. § 4617(b)(2)(K)(i). Upon information and belief, in exchange for FHFA's promise, the companies' boards agreed not to challenge FHFA's status as conservator.
p.13, Items 40, 41 & 42 from Ackman's Complaint:
https://timhoward717.files.wordpress.com/2014...aint-2.pdf
Furthermore:
1. Conservatorship was illegal. HERA states 12 grounds for conservatorship. None of these were met.
2. FHFA was not operating as an independent agency as directed by HERA. It was taking it's marching orders from the Executive Branch.
3. Gov used intimidation and coercion to 'obtain consent'. BOD 'consent' was by no means voluntary as indicated in the Berman lawsuit:
Quote:
69. Despite admitting to having “analyzed in great detail the current financial condition of the GSEs” for a four-week period prior to the imposition of the conservatorships, the Government intended to keep this plan secret until the last possible minute. As explained in Secretary Paulson’s memoir, On the Brink, the Secretary met with President George W. Bush only three days before the conservatorships were publicly announced and told him that “[w]e’re going to move quickly and take them by surprise. The first sound they’ll hear is their heads hitting the floor.”
70. In his September 7, 2008 statement announcing this unprecedented Government action, Lockhart misleadingly stated that “ he Boards of both companies consented yesterday to the conservatorship.” However, the Board’s “consent” was by no means voluntary. On the contrary, it was obtained through intimidation and coercion by the Government. Just two days prior to the September 7th announcement, Paulson and other top governmental officials had summoned the senior executives at Fannie Mae and Freddie Mac to secret meetings, where they were told that they would either accept Government control within 24 hours or the Government would impose it by force. Paulson misleadingly told them that “[w]e have the grounds to do this on an involuntary basis, and we will go that course if needed.”
71. In a 2009 speech, Mudd explained that “we were given 24 hours to accede to a government takeover – or else the government would effectively go to war against the company.” The FCIC concluded that “[e]ssentially the GSEs faced a Hobson’s choice: take the horse offered or none at all.” Secretary Paulson himself told the Commission that the Government team made “a very strong case so the board of directors did not have a choice” and that he told the Companies that, while the Government had authority to inject capital into them, it would not do so unless they were in conservatorship. This was a dramatically different scenario than what recently had been described by Senator Isakson, in explaining the intention of HERA, as granting “access to the Treasury window” much like the access to capital that is given to banks. In fact, the access to capital from the Treasury was being provided to Fannie Mae and Freddie Mac on far more onerous and extremely costly terms, which were severely detrimental to the private property interests of their shareholders, and the boards of directors at the Companies were not given any real choice in the matter. As Paulson later explained to the FCIC, “I believed the very best way to get them to agree on a friendly basis was to say ‘there’s a hard way and an easy way, and we hope and expect them to take [the] easy way. Which they did.[’]”
http://www.restorefanniemae.us/berman
4. In addition, "Treasury exercised it's emergency authority to purchase securities of the companies". A state of emergency at that time did not exist. A state of emergency had not, at any time, been declared by the Federal Government. Warrants are null and void.
Quote:
As far as an "agreement" being made...it was pointed out that I was incorrect when the warrants were actually issued...it was AFTER the boards agreed to conservatorship. So...based on that, the BOD of both companies had no say in the matter...the director of FHFA was in total control and had/has absolute power of decision.
Per the Pershing court filing - page 13 item 41 & 42
https://timhoward717.files.wordpress.com/2014...aint-2.pdf
Now the question is...did FHFA lie to the BOD...or did the BOD agree prior to C-ship...we don't know. I don't think there is a public record of those conversations...could be there is...maybe we will get some good stuff about this coming out in court. I would venture we will never know that answer, but I would certainly like to know if the BOD tossed us under the bus as well to appease the political machine.
Those bollies are getting really tight!
Your brain is short. Accept it.
I'm long and up 730%. I'm not an old lady either.
Tincupx, this is just another, who has no life whatsoever. An obviously definite newb who does not know how to trade and is a pretender. Why they come here to post is beyond me but stupid is as stupid does, again and again and again!
It's amazing you have the motivation and passion to even worry about our investment in this particular stock. It shows just how bored you are with your own trading or simply a need for some type of interaction. Either way you don't know shit just like anyone else
the gov was charged with overseeing the entities prior to the bail out. any risk they bore was justifiable due to years of political tampering and poor oversight. f and f were required to stay in the market during the downturn and were used as a tool to save other private market actors. f and f bailed out the country not the other way around....
also, hedge funds have followed the law and the government has not. not following laws that you created and stealing from your own citizenry...
stupid is as stupid does.
This isn't going to run anymore guys, give it up
Lead by example
The best way to treat these shorty clowns is to joke. Poor devils.
Thank you for the support, that person could have never taken math 101.
At the highest gain yesterday has now all been takin back!!! That's was great news that lasted half a day to push pps.. No news or lil bad always kills the pps for days or weeks...
September 5th Fairholme/Sweeney
Your right, stupid is as stupid does. So unless you own FnF stock, why are you here? Stupid is as stupid does when it has no life!
