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David Sims

 
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  • Fannie, Freddie jump as Ackman boosts his stakes [View news story]
    Please take a look at my notes from yesterday's Iowa court battle.
    http://bit.ly/13zwY0F
    Dec 17, 2014. 05:46 PM | 3 Likes Like |Link to Comment
  • Director Watt Begins To Exercise His Administrative Authority [View article]
    Here's what we know.
    http://bit.ly/1zQJWD0
    Dec 14, 2014. 09:08 AM | Likes Like |Link to Comment
  • Director Watt Begins To Exercise His Administrative Authority [View article]
    Anyone reading this today, please remember to join Investors Unite http://bit.ly/1mVL6rW

    This is one of the few grass roots activist investing campaigns you will ever participate in during your lifetime and I believe that this will be historical. Thanks!
    Dec 13, 2014. 09:10 AM | 3 Likes Like |Link to Comment
  • Director Watt Begins To Exercise His Administrative Authority [View article]
    I recommend that you contact Charlie Harrison to ask the question about the lawsuits. When I write about legal issues, I tend to miss the mark.
    Dec 13, 2014. 09:08 AM | Likes Like |Link to Comment
  • Impac Mortgage nearing purchase of mortgage originator [View news story]
    Shareholders are looking for a name and purchase amount.
    (Long IMPHO)
    Dec 12, 2014. 08:17 AM | Likes Like |Link to Comment
  • Carney: No quick end to GSE conservatorship [View news story]
    Here's what you should do with anything Carney says.
    http://bit.ly/1z7yt0y
    Dec 10, 2014. 03:21 PM | 5 Likes Like |Link to Comment
  • Fannie And Freddie Shareholders Follow Director Watt To Miami [View article]
    I spoke with two and they said they met up with two more. The rest of the room was filled with community groups interested in HARP and representatives of FHFA, Treasury, HUD, and Fannie and Freddie. Total attendance was 60.
    Dec 10, 2014. 08:20 AM | Likes Like |Link to Comment
  • Fannie And Freddie Shareholders Follow Director Watt To Miami [View article]
    I do my best to keep up with the court cases, but I don't believe I am qualified. Please listen to the call tomorrow between Pagliara and Dr. Epstein.

    http://bit.ly/1ytC0bM
    Dec 9, 2014. 04:57 PM | Likes Like |Link to Comment
  • Fannie And Freddie Shareholders Follow Director Watt To Miami [View article]
    MEDIA ADVISORY

    Investors Unite is Joined by Attorney Richard Epstein to Discuss
    A Tale of Two Bailouts: AIG v. Fannie & Freddie

    As AIG litigation nears conclusion, what are parallels and differences
    to legal challenges by GSE shareholders?

    WASHINGTON – Investors Unite Executive Director Tim Pagliara will host a teleconference for members and media, Wednesday, December 10, at 11 am EDT to examine the current litigation surrounding the AIG and Fannie/Freddie bailouts.

    Special guest, Dr. Richard Epstein, Professor of Law at the New York University School of Law, will discuss his recent article, “A Tale of Two Bailouts: AIG, Fannie and Freddie and Beyond.” With a decision in the AIG lawsuit expected as early as this month, Dr. Epstein will examine current GSE shareholder litigation in light of argumentation introduced in the AIG legal proceedings. What does the AIG process reveal about government’s potential legal vulnerability in the GSE shareholder litigation?

    WHO: Tim Pagliara is Executive Director of Investors Unite, a shareholder invested in Fannie Mae and Freddie Mac, and Chairman and CEO of CapWealth Advisors.

    Richard A. Epstein is a legal scholar and is the Laurence A. Tisch Professor of Law, at New York University School of Law. Epstein is also a Senior Fellow at the Hoover Institution and a Senior Lecturer at the University of Chicago. Of note, Epstein advises several institutional investors with an interest in Fannie Mae and Freddie Mac.

    WHEN: Wednesday, December 10, 2014; 11:00 AM EDT

    DIAL: Toll Free: 877-888-4312
    Conference ID: IU

    NOTE: Please RSVP to info@investorsunite.com

    http://bit.ly/1ytC0bM
    Dec 8, 2014. 12:36 PM | 3 Likes Like |Link to Comment
  • Fannie And Freddie: FHFA Action Could Permanently Strengthen The Housing Market [View article]
    MEDIA ADVISORY

    Investors Unite is Joined by Attorney Richard Epstein to Discuss
    A Tale of Two Bailouts: AIG v. Fannie & Freddie

    As AIG litigation nears conclusion, what are parallels and differences
    to legal challenges by GSE shareholders?

    WASHINGTON – Investors Unite Executive Director Tim Pagliara will host a teleconference for members and media, Wednesday, December 10, at 11 am EDT to examine the current litigation surrounding the AIG and Fannie/Freddie bailouts.

    Special guest, Dr. Richard Epstein, Professor of Law at the New York University School of Law, will discuss his recent article, “A Tale of Two Bailouts: AIG, Fannie and Freddie and Beyond.” With a decision in the AIG lawsuit expected as early as this month, Dr. Epstein will examine current GSE shareholder litigation in light of argumentation introduced in the AIG legal proceedings. What does the AIG process reveal about government’s potential legal vulnerability in the GSE shareholder litigation?

    WHO: Tim Pagliara is Executive Director of Investors Unite, a shareholder invested in Fannie Mae and Freddie Mac, and Chairman and CEO of CapWealth Advisors.

    Richard A. Epstein is a legal scholar and is the Laurence A. Tisch Professor of Law, at New York University School of Law. Epstein is also a Senior Fellow at the Hoover Institution and a Senior Lecturer at the University of Chicago. Of note, Epstein advises several institutional investors with an interest in Fannie Mae and Freddie Mac.

    WHEN: Wednesday, December 10, 2014; 11:00 AM EDT

    DIAL: Toll Free: 877-888-4312
    Conference ID: IU

    NOTE: Please RSVP to info@investorsunite.com

    http://bit.ly/1ytC0bM
    Dec 8, 2014. 12:35 PM | Likes Like |Link to Comment
  • Fannie And Freddie: Director Watt Should Exercise His Executive Powers [View article]
    Shareholders, please read.
    http://bit.ly/1we2ihi
    Dec 1, 2014. 03:13 PM | Likes Like |Link to Comment
  • Fannie And Freddie: Director Watt Should Exercise His Executive Powers [View article]
    I guess I need to state this several times in several different ways to show what I am trying to say. I've had a lot of people that aren't getting the core argument of my article. It's probably something in the way I wrote it.

    1. FHFA has the power to void portions of any contract that doesn't preserve and conserve assets, per several court rulings. They are exempt from judicial review.

    2. The SPSPA is a contract. An amendment to the SPSPA created the Net Worth Sweep. A portion of the contract can be ignored by FHFA without ramifications.

    3. FHFA does not report to Treasury. Per HERA, FHFA is an independent regulator. Treasury cannot remove Watt for voiding the SPSPA. Obama had a very difficult time removing Ed Demarco. Congress would need to approve a replacement.

    4. If Watt can void the 3rd amendment and the Net Worth Sweep to fulfill FHFA's statutory mission, then he can start the process to end conservatorship.

    5. Once the Net Worth Sweep ends, there is no incentive for Treasury to continue the conservatorship. Treasury then has an incentive to monetize their warrants. The Sr preferred has no marketable value. The warrants can easily create value and have value by retaining earnings.

    To end the conservatorship, Watt simply needs to vacate the 3rd Amendment, using his statutory powers. The rest of the pieces will naturally fall into place on their own.
    Nov 28, 2014. 10:49 AM | 2 Likes Like |Link to Comment
  • Fannie And Freddie: Director Watt Should Exercise His Executive Powers [View article]
    Shareholders from Florida, please see this post.

    http://bit.ly/1uUkOK1

    FHFA is holding a public town hall meeting and we are all invited.
    Nov 25, 2014. 01:54 PM | Likes Like |Link to Comment
  • Fannie And Freddie: Director Watt Should Exercise His Executive Powers [View article]
    Great. If they don't provide an explicit guarantee, then there is absolutely no reason to keep the contract.

    If the GSEs had $1 trillion in equity capital, would anyone think they the need an agreement like this with Treasury? No. So, then the question becomes, is there some reasonable capital level that the private market could provide to eliminate this contract with Treasury? I believe the answer is yes.

    Treasury is like the glutinous uncle that shows up uninvited for Thanksgiving and eats the entire Turkey before the food is blessed.
    Nov 25, 2014. 06:57 AM | 10 Likes Like |Link to Comment
  • Fannie And Freddie: Director Watt Should Exercise His Executive Powers [View article]
    Again, please leave comments at this link.
    http://bit.ly/1v3db2c

    Thanks for reading!
    Nov 24, 2014. 09:25 AM | 3 Likes Like |Link to Comment
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417 Comments
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