Fairholme/Berk proposal...sounds like ICBA kind of
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skibrian
May 31, 2017, 9:50:14 PM5/31/17
to Fannie and Freddie Preferreds and Commons Message Board
Bump....
I've just been referencing this term sheet in the Moelis thread. So bumping it so newbies can read and get up to speed on the last formal tender for the companies.
seysmont
May 31, 2017, 11:23:54 PM5/31/17
to Fannie and Freddie Preferreds and Commons Message Board
Berko sees the money in insurance business. But it's like Google and advertising. Yes, advertising business is the money, but just buying advertisement business from Google is stupid if you demolish the reason the business is there in the first place. It's literally the same retardation Wells was/is engaged in. I doubt it's going to be Berko's plan. It maybe, but then it's another wasted opportunity. I haven't really seen anything that is done by people who actually understand agencies market.
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seysmont
May 31, 2017, 11:39:51 PM5/31/17
to Fannie and Freddie Preferreds and Commons Message Board
I'm just saying that Berko is not really the guy that should be making plans. It was a stupid plan. So he gets the insurance. Then what? He can insure the loans now, nobody prevents him from that. There is something else happening, right?
skibrian
May 31, 2017, 11:43:41 PM5/31/17
to Fannie and Freddie Preferreds and Commons Message Board
This won't be the plan.
I wanted newbies to see what a formal term sheet and presentation looks like.
Whet the appetite...
ron...@comcast.net
May 31, 2017, 11:44:08 PM5/31/17
to Fannie and Freddie Preferreds and Commons Message Board
His original plan was simply to call congress bluff that GSEs were in trouble. It was shrewd and made a point but it was a nonstarter.
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skibrian
May 31, 2017, 11:50:32 PM5/31/17
to Fannie and Freddie Preferreds and Commons Message Board
I keep saying six years...sorry, this is note four years old...after the sweep. Maybe it was a last ditch to avoid the constitutional court fight.
One thing about finance guys, we would rather avoid courts at all costs. Just think how much the Sweeny litigation is costing.
I'm sure they're in seven maybe rirght figured already on that fight! We got a lawyer here that can estimate the hours, staff charging New York prices of $300 to $1000 an hour? My company is involved in done peanuts litigation and our mid size lawyers have already charged us low six figures.
skibrian
May 31, 2017, 11:51:47 PM5/31/17
to Fannie and Freddie Preferreds and Commons Message Board
Typo... Hedge funds in for Seven maybe eight figures.
I hate posting to this board on my phone!
littlede...@gmail.com
Jun 1, 2017, 11:50:18 AM6/1/17
to Fannie and Freddie Preferreds and Commons Message Board
SKI....just as long as we make 7-8 figures on da outcome...we all good....utility..utility....utility......back to sleep....go figure....devil
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