Doc Cartoon (@30yrdream) header
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Sometimes the light's all shinin' on me Other times, I can barely see Lately, it occurs to me What a long, strange trip it's been

American Heartlands
Joined March 2015
Photo by Doc Cartoon (@30yrdream)Photo by Doc Cartoon (@30yrdream)Photo by Doc Cartoon (@30yrdream)Photo by Doc Cartoon (@30yrdream)Photo by Doc Cartoon (@30yrdream)Photo by Doc Cartoon (@30yrdream)Photo by Doc Cartoon (@30yrdream)Photo by Doc Cartoon (@30yrdream)Photo by Doc Cartoon (@30yrdream)Photo by Doc Cartoon (@30yrdream)
@DavidHStevens @LinkedIn Did I hear U right Did U just say? Other than that Mrs Lincoln ... How did U like the play?
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Freddie Mac announced net income of $3.2 billion for Q3, growing our net worth to $81 billion. Explore our financial results and see how we’re driving our mission forward: freddiemac.com/investors/fin…
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Former Fannie Mae executive Tim Howard said he doesn’t see a “credible basis” for SCOTUS to reverse the decisions of the lower court, the three-judge panel of the DC Circuit Court and the court of appeals en banc in Fairholme Funds v. FHFA. insidemortgagefinance.com/ar…
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$FNMA $FMCC To all the gloomers, doomers, & especially you cuddly little short sellers in the F2 world: As you run your victory laps and try to manufacture an "I told you so" moment upon the news of @michaeljburry selling Fannie Mae...there's just one problem. He rolled it all into Freddie Mac in a common tax harvesting strategy. Dr. Burry, while frustrated like many of us with the timeline, is still long F2. He even floats out the possibility of the sum of all fears coming to pass for you lovable shorts. F2 Fam, keep in mind that the daily trading average with FNMA & FMCC is a fraction of 1% of the total outstanding shares. Shout out to @TylerEHand for that constant reminder. The coil tightens as the float shrinks. GLTA. finance.yahoo.com/markets/st…
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Saturday thoughts (related to the GSEs because it's the most glaring inconsistency in American business). The United States has the best economic system in the world. Legal and financial rules set the lanes so people can use their creative force to form companies and generate massive economic value with products people want. The market economy takes care of the rest. In my Stanford Business School classes, professors loved to say, “If the dogs eat the dog food, there is value in it. If not, pivot.” Superfluous metaphor for humans aside, the main point stands: if an entrepreneur creates value and manages his company and product well, there is a place for it in the market, and he, together with the owners/shareholders of his company, will be rewarded. Shareholders provide the capital needed to build the business after all. Our business school education is rigorous in mathematics, accounting, and finance, which itself is somewhat of a mix between hard sciences and a liberal art. Financial projections- pro formas, about the future are often wildly optimistic, or pessimistic, and completely miss the mark. Financial accounting, however, is a set of well-established principles and rules for everyone to follow, INCLUDING our government. To that end, I was shocked to see how little financial literacy our legal arbiters possess. The judges ruling on the Fannie/Freddie's net worth sweep initiated by the Obama Administration in 2013 displayed a novice understanding of balance sheets and P&Ls. It’s possible the government attorneys knew that Deferred Tax Asset write downs and Net Worth Sweep mechanics would fly over the judges’ heads, and used that to arbitrage that naiveté and win HERA’s anti-injunction 12 U.S.C. § 4617(f) cases that should have been won by the shareholders. Though the shareholders won one big case recently with the breach of implied covenants. So how do you value $30B+ in annual profits and growing? That’s Fannie and Freddie every year. Why are the companies in conservatorship under the most pro-business President of our time? Is this a capitalist approach? If so, why do students go to business school? Are regulatory captures, nationalizations, and conservatorships the norm now? @pulte, @SecScottBessent, @realDonaldTrump
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Saturday thoughts on Fannie Mae and Freddie Mac: America is not supposed to run private companies as permanent wards of the state. After eighteen years, Fannie Mae and Freddie Mac are profitable, capitalized, and still locked in a government cage. Ending conservatorship is not a gift to shareholders. It is restoring capitalism after an emergency that ended a decade ago. @pulte @SecScottBessent @realDonaldTrump
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September 8 was the tell. It came in the other way. Last night FHFA, Fannie and Freddie asked the full D.C. Circuit to rehear the $812M bad-faith verdict. I said a quiet day was the base case. I was wrong. Here's what's actually in the filing. $FNMA $FMCC glenbradford.com/blog/fhfa-r…
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Dutch driver Loek Hartog pulled British rival Ollie Millroy from a burning Ferrari at a China GT race in Shanghai on Saturday. Hartog stopped his Porsche, used a fire extinguisher on the flames and dragged Millroy clear before marshals arrived. Millroy credits him with saving his life.
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U.S. President Donald Trump posted this on X:
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Hats off to our bravest Navy divers and SEALs. Centcom says Iranian sea mines cleared from Strait of Hormuz transit routes. The operation was completed using a combination of Navy divers, Navy SEALs, and U.S. airpower from multiple military branches. Over the past several months, U.S. forces have quietly cleared the lanes and successfully assisted more than 1,500 commercial vessels carrying over 750 million barrels of oil through the strait thehill.com/policy/defense/6…
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🚨 HOLY SMOKES. Marine Joey Jones, who deployed to Afghanistan and lost his legs there, just ERUPTED after the fake news amplified complaints about "food" and "conditions" on the Abraham Lincoln "To SIT THERE and say that it was terrible because you had a 'corn dog and a hot dog,' I would have traded a BLOCK OF C4 to the TALIBAN for a hot dog about July 2010!" "To that little kid and whoever raised him, Lord HELP YOU if you ever go into a hot war on the ground like MILLIONS of Americans! That I can only THINK what a World War II veteran sitting there who's lucid enough today to see that and think about the six-month journey home from fighting the toughest war we've EVER fought after being there for four years was thinking, listening to him COMPLAIN like that." "You know what I ate in Afghanistan for 6 months on a burner with using a little burner? I ate ramen noodles. I had to pull the seasoning packet out because that's too much sodium in it and I put tuna packets in it. That's what I ate!" "How WEAK are you on TV complaining about tuna and noodles? I'm sorry! YOU volunteered to serve your country." "You can come back and get out of the military and do what all of these Democrat veterans and COMPLAIN about it and make commercials and be a SELLOUT if you want to and come up with a new way of doing things!" "The last Democrat president that I remember that was deploying troops, Barack Obama had me going to Iraq on patrol bases for 15 months at a time, eating MREs!" "I'm sorry, but you're a sitting DUCK on a patrol base in Iraq, in Afghanistan, a heck of a lot more than you are on a fortified Navy ship sitting in the water!" "it makes me fume. If he sat there and said we didn't have any clean water to drink, we couldn't take a shower. I mean, well, I didn't get to take a shower for about six months, but still, you know, something that has something to do with hygiene?!" "You know, like getting sick, there was a scurvy outbreak and, the guys that were missing legs were only giving wooden pegs instead of metal ones? Then maybe I might have some sympathy!" The fake news is COMPLICIT!
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A Modest Proposal: Treasury Should Fund Trump Accounts with the Proceeds of GSE Common Stock Sales Post Recap/Release, by @RuleofLawGuy1 ruleoflawguy.substack.com/p/… $fnma $fmcc
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Who was feeding Timiraos anti-GSE slop for years? Pro nationalization and Wall Street Journal is a weird combination.
One of the highlights of the Warsh Fed has been watching stenographers posing as journalists, like the WSJ’s Nick Timiraos, reduced to reporting Fed backroom gossip because they’re incapable of performing real economic or monetary policy analysis without being spoon-fed.
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Replying to @rule_of_law_guy
Any cash dividend paid during conservatorship is indefensible. The justifications used were all bullshit excuses.
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Somebody ran up to Colonel Chesty Puller at the Chosin Reservoir to tell him the terrible news that his Marines were completely surrounded by the Chinese army. Puller looked at him and said, more or less, good. Now we can shoot at them in every direction. Lewis Puller, called Chesty because of his barrel chest and his bulldog walk, was already a living legend before Korea. He is still the most decorated Marine in the history of the Corps, a man who would end his career with five Navy Crosses, and there are Marines to this day who end their night with the words good night Chesty, wherever you are. He was the old breed, a Marine who believed in the rifle, the bayonet, and never, ever leaving a man behind. In late November 1950, at a frozen lake in the mountains of North Korea called the Chosin Reservoir, everything went wrong. Around thirty thousand UN troops, most of them Marines, suddenly found themselves cut off and encircled by something like a hundred and twenty thousand Chinese soldiers who had poured across the border in secret. The temperature dropped to thirty and forty degrees below zero. Weapons froze. Blood froze. Rations froze solid. The Marines were outnumbered, surrounded, and stuck at the far end of a single narrow mountain road with the enemy dug in on every hill above it. Most units in that spot break. Chesty Puller's did not. His attitude, and it spread to every man in the regiment, was that being surrounded was not a disaster, it was an opportunity. He is supposed to have said it plainly. We are surrounded. That simplifies our problem. And the other line his Marines loved. They are in front of us, behind us, and on both flanks. They cannot get away from us now. So the Marines did not surrender and they did not panic. They turned around and fought their way out, attacking in a new direction, as Puller and the other commanders put it. They came down that one frozen road through seventy miles of ambush and roadblock, hauling their gear, and this is the part that mattered most to men like Chesty, bringing their wounded and their dead with them. They refused to leave their people behind. They fought their way clean out of the trap and did enormous damage to the Chinese armies that tried to destroy them. For his part in it Puller earned that fifth Navy Cross, and the breakout from Chosin became one of the most legendary fighting retreats in the history of the United States military. Chesty Puller spent his whole life proving a simple idea. It is not the numbers against you that decide a fight. It is whether the men will stand. His men always stood.
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Sen. Tim Sheehy (R-MT) delivers an incredibly powerful speech about Iran. Watch every second of this. "Yesterday we saw the president of the United States and many others at Dover Air Force Base presiding over a ceremony that is very sacred to those of us who served, and that is a dignified return of remains from the war zone. That process happens beginning in the war zone through Dover to the hometown of our fallen heroes. I participated in many of those ceremonies myself to include carrying friends of mine off the plane. One of those is on this bracelet. He was cut in half by an Iranian EFP. This regime that we are fighting does not care about our partisan politics. They don't care who you voted for, who you pray to, or where you live. They want to kill all of us. And they don't just say it, they actually do it, and they've been doing it for forty-seven years. This is a war of choice. The Democrats are correct. It's a war of choice that was begun by a radical lunatic band of terrorists that took over a beautiful nation 47 years ago, took it over with brutality, force, and savagery. And the second they took it over, they didn't free their people, they didn't unleash the largest oil reserves in the world to build schools and bridges. They took it over to murder their own people and to spread their disgusting ideology across the world, and that is exactly what they have been doing. They don't just say it and talk about it. You don't have to believe what they say. You can simply watch what they've done. They have attacked families, women, children, innocent people. They don't just attack them and kill them, they rape them. They skin them alive on camera. They celebrate it. They honor those people who do disgusting things that we would put in jail for the rest of their lives in this country, and they do it for fun, and they pay them money to do it, and they're heroes to that nation. They've done it to friends of mine. They've done it to families who've been in this chamber. And the fact that we sit here and listen to elected officials of this country defend these lunatics who want us all dead. They want all of you dead. They want all of us dead. They don't want us to disappear with a snap of a finger. They want us to be raped, burned alive, and cut into pieces. Watch the video from October 7. That's what they want to happen from Maine to San Diego, from Seattle to Miami. They want this country turned into a burning husk of its former self, and you don't have to theorize that. That's what they do. From the 1983 barracks bombing, where 280 Marines were vaporized in a morning, from USS Cole to the Achille Lauro, to every terrorist attack, from the Houthis, Hezbollah, Hamas. These are not humanitarian freedom organizations. They are death-dealing cults, and they want all of us to die brutal deaths. William Buckley was abducted in 1985, an American military officer. He was skinned alive on camera by the Iranians. American prisoners of war who were captured. They were never called prisoners of war because they were captured by lunatic terrorists, so they were not subject to the Geneva Convention. They were captured and murdered, power drills through their brains. This is in Iraq. These are families that have dealt with this, and they've never gotten a single dime. These families have never gotten restitution, and not a single president has ever stood up to them. Love Donald Trump or hate him, love his policies, hate ICE, love ICE, whatever. There's never been a single president who has stood up to Iran and hit back. For 47 years, our troops and our families have been absorbing attack after attack after attack all over the world. And their radical ideology does not stop at the Persian Gulf. It doesn't stop at Tel Aviv. They want to do this everywhere. It's a global radical ideology, and we've been fighting it for half a century. We didn't start this war. We did not, but we will finish it. And forever wars are not popular with anybody these days. Both sides of the love to attack our forever wars. And I can promise you, being someone overseas wearing the uniform, when you're fighting for your country, you don't care what party's in office, but you're fighting to defend your country, and you turn on the news and see your elected officials stabbing you in the back, telling you that you're failing, that you've failed every goal of the war, is what I just heard. Last time I checked, we've wiped these bastards out. An occasional missile strike and boats in the straits, that's not military strength. Those are the flailings of a failing empire. Those are the flailings of a nation in collapse because they deserve it. So I encourage our colleagues on both sides of the aisle, whatever's politically convenient, whatever plays well on Twitter or Facebook, think about the people who are deployed right now, standing on that wall with a loaded weapon, who have volunteered to defend our country and our way of life. Because they are there defending us in a just war, because we did not start a war with the Iranian Revolutionary Guard. They started it with us 47 years ago, and their attacks have gone unanswered for half a century. It's time to fix this problem and make sure another generations of Americans does not have to fight this murderous, savage adversary."
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Helping achieve clear U.S. air superiority during Vietnam, including one wing’s 32 MiG kills in 1972, the USAF fielded the slotted-wing F-4E, whose improved turn performance better matched MiG maneuverability. It carried an internal high-rate cannon, an upgraded lead-computing gunsight, a rapid-select weapons panel, the TISEO long-range TV identification system, and an electronic friend-or-foe identifier, while employing heat-seeking and all-aspect Sparrow missiles.
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