tuzedaze
20 시간 전
Sammy…. This article kills me as it quotes mark Zandi and Moody’s…. The same Moody’s that said 73% of the mortgage-backed securities had rated triple-A in 2006 and were downgraded to junk by 2010….. JPM paying $40BN in fines to do business and now Zandi and Moody’s are to be trusted f’n experts… Our entire financial system is a house of cards…..
Peeps… FnF is going to be turbulent as hell for the next few months… Massive open gap down below…. Don’t wait around for Sammy to tell you it’s going lower…. $29M volume day…. Playing here is playing with fire….
Here is an old one from the past to help highlight to the newbies in this stock that the corruption is everywhere and even to those who are supposedly the experts who provide ratings on what makes our economy go…. Moody’s and S&P… F’n crooks…. We still have 11,000 documents under executive privilege and there are many powerful people who do not want you to know where the bodies are buried…. We are in conservatorship so the message can be controlled….. JFK, Gulf Of Tonkin, 9/11, FnF… list goes on…. Lots of turbulence here…..
https://www.theguardian.com/business/2017/jan/14/moodys-864m-penalty-for-ratings-in-run-up-to-2008-financial-crisis
The credit rating agency Moody’s has agreed to pay nearly $864m to settle with US federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the department of justice said on Friday.
“Moody’s reached the deal with the justice department, 21 states and the District of Columbia, resolving allegations that the firm contributed to the worst financial crisis since the Great Depression, the department said in a statement.
“Moody’s failed to adhere to its own credit-rating standards and fell short on its pledge of transparency in the run-up to the ‘great recession’,” principal deputy associate attorney general Bill Baer said in the statement.
S&P Global’s Standard & Poor’s entered into a similar accord in 2015 paying out $1.375bn. Standard and Poor’s is the world’s largest ratings firm, followed by Moody’s.”
tuzedaze
20 시간 전
Sammy…. This article kills me as it quotes mark Zandi and Moody’s…. The same Moody’s that said 73% of the mortgage-backed securities had rated triple-A in 2006 and were downgraded to junk by 2010….. JPM paying $40BN in fines to do business and now Zandi and Moody’s are to be trusted f’n experts… Our entire financial system is a house of cards…..
Peeps… FnF is going to be turbulent as hell for the next few months… Massive open gap down below…. Don’t wait around for Sammy to tell you it’s going lower…. $29M volume day…. Playing here is playing with fire….
Here is an old one from the past to help highlight to the newbies in this stock that the corruption is everywhere and even to those who are supposedly the experts who provide ratings on what makes our economy go…. Moody’s and S&P… F’n crooks…. We still have 11,000 documents under executive privilege and there are many powerful people who do not want you to know where the bodies are buried…. We are in conservatorship so the message can be controlled….. JFK, Gulf Of Tonkin, 9/11, FnF… list goes on…. Lots of turbulence here…..
https://www.theguardian.com/business/2017/jan/14/moodys-864m-penalty-for-ratings-in-run-up-to-2008-financial-crisis
The credit rating agency Moody’s has agreed to pay nearly $864m to settle with US federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the department of justice said on Friday.
“Moody’s reached the deal with the justice department, 21 states and the District of Columbia, resolving allegations that the firm contributed to the worst financial crisis since the Great Depression, the department said in a statement.
“Moody’s failed to adhere to its own credit-rating standards and fell short on its pledge of transparency in the run-up to the ‘great recession’,” principal deputy associate attorney general Bill Baer said in the statement.
S&P Global’s Standard & Poor’s entered into a similar accord in 2015 paying out $1.375bn. Standard and Poor’s is the world’s largest ratings firm, followed by Moody’s.”
trunkmonk
1 주 전
From Rodney
Estimated Value of Theft
Fannie and Freddie
If a Court would overturn the conservatorship the below calculation is my opinion of the value of both companies. I use a 10% on interest owed and a P/E of 14. Kindly, check my calculations.
Best Regards
-R
Fannie Mae and Freddie Mac calculations of interest owed to Shareholders from over payment sent to the Treasury, plus companies net worth, plus earnings power of the businesses.
Fannie Mae Intrinsic Value $440.03 per share
Freddie Mac Intrinsic Value $386.42 per share
?‘Little Tucker Act’
New lawsuits if a plan is being worked on with a new Treasury Secretary, if they play games with Seniors and warrants. Treasury and FHFA violating Federal statutes that any district court has jurisdiction over..
With a 8-0 jury verdict and former FHFA Director saying the Treasury has been paid in full.
Prepared Remarks of Dr. Mark A. Calabria, Director of FHFA, at FHFA Swearing In Ceremony 04/15/2019
The Housing and Economic Recovery Act (HERA) Federal Housing Finance Director Calabria co-authored HERA.
Quote: “I believe with HERA, many of those needed tools were finally put into place. I will always be extremely proud to have played a part in those efforts, effectively helping give birth to this very agency. (Federal Housing Finance Agency). End of Quote
Mr. Calabria fully understands the Federal Statutes he helped write HERA.
The Conservatorships of Fannie
Mae and Freddie Mac: Actions
Violate HERA and Established
Insolvency Principles
By Michael Krimminger and Mark A. Calabria February 9, 2015
Mr. Calabria said, “stripping all net value from Fannie Mae and Freddie Mac long after Treasury has been repaid when HERA, and precedent, limit this recovery to the funding actually provided.” Page 4 link below.
NOTE: limit this recovery to the funding actually provided.
Mr. Calabria referenced HERA and precedent. Federal Statutes do not allow the Treasury to attach a commitment fee onto the Senior Preferred Stock. THEREFORE, by reason of Federal Statute, the Treasury owes the companies the overage payment on $191.4 billion total draws from Treasury, plus compounded interest; (recommended interest payment at a compounded rate of return 10%, in conjunction with the amount the FHFA recommended to the Treasury).
https://www.fhfa.gov/news/speech/prepared-remarks-of-dr.-mark-a.-calabria-director-of-fhfa-at-fhfa-swearing-in-ceremony
https://www.cato.org/sites/cato.org/files/pubs/pdf/working-paper-26_1.pdf
FEDERAL STATUTES
The Charter Act, and the Federal Housing Enterprises Financial Safety and Soundness act of 1992 (FHEFSSA); Both as amended by the HOUSING AND ECONOMIC RECOVERY ACT OF 2008, (HERA). The Charter Acts are Fannie Mae and Freddie Mac's enabling statutes. FHEFSSA and HERA are regulatory statutes, governing the companies' regulators. All are laws passed by Congress.
HERA is a Federal Statute not a contract, the Senior Preferred Stock Purchase Agreement is a contract not the law.
The day of the take down Fannie Mae’s core capital of $47.0 billion and Freddie Mac’s core capital of $37.1 billion Totals $84.1 billion. This amount of core capital remained with the companies until the illegal commitment fee started sucking shareholders money into the dark hole of the Treasury. This continues until massive profits were foreseen by the Treasury coming in to the companies as net profit. At this time Treasury implemented the Net Worth Sweep. From the point in time of the start of the collection of the illegal commitment fee until the companies were allowed to retain earnings a total of $301.1 billion was sent to the Treasury.
$181.4 billion Fannie returned to Treasury. Form 10K Dec 31, 2023. Page 9
$119.7 billion Freddie returned to Treasury. Form 10K Dec 31, 2023 Page 5
Total $301.1 billion
For the purpose of a new lawsuit, that any district court has jurisdiction over, by reason of Federal Statute, the Treasury owes the companies the overage payment on total draws in the amount of draws $191.4 billion, the overage payment $109.7 billion, plus compounded interest; (recommended interest payment at a compounded rate of return 10%, in conjunction with the amount the FHFA recommended to the Treasury).
Under the funding agreement the Treasury paid to Fannie $119.8 billion Form 10k December 31, 2023 page 8
Under the funding agreement the Treasury paid to Freddie $71.6 billion Form 10k December 31, 2023 page 5
$191.4 billion total draws from Treasury
The calculation includes both companies and the calculation starts at the point in time when the Net Worth Sweep was implemented. Calculation of interest payments the Treasury owes Fannie and Freddie Shareholders.
Note: the interest calculation does not include the space in time from the start of the illegal commitment fee period up to the NWS. This amount should be calculated and added to the total amount of interest calculated below.
$301.1 billion sent to the Treasury.
Treasury draws totaling $191.4 billion
Difference of $109.7 billion the Treasury owes to the Shareholders in over payments.
August 17, 2012, Treasury and FHFA agreed to amend the PSPAs, changing the 10% dividend into a “Net Worth Sweep.” The Net Worth Sweep required Fannie Mae and Freddie Mac to pay the full amount of their net worth to Treasury every quarter. FHFA Director DeMarco, this non-elected bureaucrat, has been allowed to steal the companies for the Treasury.
From 2012 to 2024
At a compound annual growth rate of 10% on amount Treasury owes Shareholders $109.7 billion. The interest at the rate of 10% on $109.7 billion calculates within a 12 year period of time in the amount of $344.29 billion in interest.
Principal of $109.7 billion plus $344.29 billion in interest = $453.99 billion
The Treasury owes the Shareholders $453.99 billion
Compound Interest Calculator
Initial investment $109.7 billion, length of time in years 12, interest rate 10% annually.
?Third quarter 2024
Fannie Mae Net Worth $90.5 billion
Freddie Mac Net Worth $56.3 billion
Combined Net Worth $146.8
$146.8 billion plus $453.99 billion = $600.79 billion
Fannie Mae common stock outstanding 1,158,087,567
Freddie Mac common stock outstanding 650,059,553
Combined common stocks
1,808,147,120 … ( Fannie Mae 64.05% Freddie Mac 35.95% }.
$600.79 billion / 1,808,147,120 =
$332.26 per share combined
Fannie Mae 64.05% is $212.81 per share
Freddie Mac 35.95% is $119.44 per share
The above calculation does not include the combined Earnings Power of the companies businesses.
EARNINGS POWER OF THE BUSINESSES
Fannie Mae’s common stock outstanding 1,158,087,567
$18.8 billion net income per year / 1,158,087,567 = $16.23 per share of earnings,
PE Ratio of 14 x $16.23 = $227.22 per share intrinsic value.
Freddie Mac common stock outstanding 650,059,553
Net earnings $3.1 billion per quarter, $12.4 billion net per year.
$12.4 billion net / 650,059,553 = $19.07 per share of earnings
PE Ratio of 14 x $19.07 = $266.98 per share intrinsic value.
Fannie Mae Earnings Power $227.22 plus 64.05% $212.81 = $440.03
Intrinsic Value $440.03 per share
Freddie Mac Earnings Power $266.98 plus $119.44 = $386.42
Intrinsic Value $386.42 per share
Again Note: the interest calculation does not include the space in time from the start of the illegal commitment fee period up to the NWS. This amount should be calculated and added to the total amount of interest calculated.
Treasury taking any amount of equity from shareholders will be considered stolen property under federal law. The Treasury and FHFA illegal exaction due to violating Federal statutes all monies with interest should be returned to the companies. Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee on a line of credit to be paid by the Enterprise.
Illegal exaction explained:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174797511