Tag: stock price

TARGET TAKES IT UP THE A$$

Looks like the SJW CEO of Target is rethinking his dumbass transgender bathroom bullshit. What a shocker. He announces how forward thinking Target is by opening all bathrooms to anyone who self identifies as another gender. Nothing like allowing mental defectives into ladies rooms to make normal people stop shopping at your stores.

When their asshole CEO announced his “progressive” policy in April, their stock was trading at $84 per share. After today’s plunge of 6%, it’s trading at $71. Comp store sales fell 1.1%, their worst quarter since 2014. Profit plunged by $73 million – a 10% drop. So, this SJW aficionado has managed to wipe out billions in shareholder value and driven customers away from the store. But at least mentally defective transgenders are happy.

Keep pissing off normal people to please these freaks, and this is what you’ll get.

 

Target to spend $20 million on private bathrooms after customer revolt

Published: Aug 17, 2016 1:16 p.m. ET

Customers protested retailer’s policy on transgender people

Getty Images
North Carolina was the first state to enact legislation requiring transgender people to use the bathroom of the gender on their birth certificate

Target Corp. said it will spend $20 million to add a private bathroom to each of its stores by next year, following customer protests over its policy allowing transgender individuals to use whichever restroom corresponds with their gender identity.

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THE FANNIE & FREDDIE FARCE IS OVER & THE TAXPAYER IS ABOUT TO GET A$$ RAPED AGAIN

Interesting how the MSM virtually ignored this little tidbit of information. A report from the inspector general for the Federal Housing Finance Agency, which regulates Fannie and Freddie, warns that these two bloated insolvent pigs are going to face declining profits and miniscule capital cushions which will result in the taxpayers getting fucked over once again.

The inspector general’s report noted that for the past few years, Fannie and Freddie’s net income has been driven by major legal settlements as well as the revaluation of tax assets and other one-time items that aren’t sustainable. That, along with the companies’ declining capital cushion, increases the likelihood they could need more government money in the future.

More government money means more of your money.

Here’s the truth about Fannie and Freddie. They hold trillions of mortgages on their books. Their balance sheets were filled with toxic mortgages in 2008 when the financial collapse occurred. You, the taxpayer, were forced to give these criminal government entities $187 billion to cover their losses.

But that was the tip of the iceberg. In March of 2009 the FASB suspended real accounting and allowed fake accounting for financial firms. So, for the last five years Fannie and Freddie could pretend they weren’t insolvent and have reported fake profits of $228 billion. They were nothing but accounting entries. They didn’t generate actual cash. They reduced their loan loss reserves and recorded tax benefit entries and a myriad of other hocus pocus bullshit.

It gets better. They then pretended to “pay back” the US Treasury with these fake profits. This is a major reason for Obama taking credit for declining deficits. These fake profits reduce the real deficit – on paper. Who says accountants aren’t bad asses?

The way you know these profits are fake is the stock price of Fannie and Freddie. Both stocks trade at $2.50. They have supposedly been generating $25 billion per year in profits – each. Back in 2007 they were generating profits of $4 to $6 billion per year and their stock prices were $70 per share. The market knows they are insolvent and knows the profits are a sham.

But now, even the sham profits have dried up. There are no more journal entries to make. No more fake profits to report. The housing market is headed south, the 3% down mortgages to deadbeats is going to blow up in their faces, and the American taxpayer is going to be ass raped again when the billions in losses start rolling in. This report is telling you what is about to happen. Book it Dano.

Continue reading “THE FANNIE & FREDDIE FARCE IS OVER & THE TAXPAYER IS ABOUT TO GET A$$ RAPED AGAIN”

THE FANNIE & FREDDIE FARCE

Let’s just cut to the chase. Fannie Mae and Freddie Mac are worthless, government run, manipulated pieces of insolvent shit. Their books are a fraud. The billions in profits they have reported over the last three years are an accounting illusion. The money they have “paid back” to the U.S. Treasury isn’t cash. It’s an accounting entry. Obama and his minions have counted these fraudulent accounting entries as a reduction in the annual deficits. It’s all a farce.

The proof is in the charts. Fannie and Freddie stocks have plunged by 35% this morning due to some court ruling. None of it matters. These two companies are completely worthless. They have been manipulated by politicians and bankers for decades.

As you can plainly see from the two charts they both traded at $1.50 per share this morning. I’m guessing the idiots who bought the stocks at $6 in March are feeling a little down in the dumps today.

So let me get this straight. Fannie supposedly had revenue of $123 billion in 2013, with an $84 billion profit, and their stock trades at $1.75???? Freddie supposedly had revenue of $76 billion and profits of $49 billion in 2013, and their stock trades at $1.75????

Maybe, just maybe, those numbers are a fraud. Fannie Mae lost $160 Billion between 2008 and 2011. Freddie Mac lost $60 billion between 2008 and 2011. You the taxpayer picked up the tab for the $220 billion in losses. These losses are after the FASB knuckled under and waived the mark to market accounting rules. Using real accounting, these losses would have been $400 billion to $600 billion.

Through the magic of creative fraudulent accounting get a load of these figures:

  • Fannie Mae has supposedly generated $110 Billion of profits over the last two and a half years. If these profits were real would their stock price really by $1.75? Of course not. These are fake profits generated by journal entries.
  • The truth can be found on the balance sheet. Fannie Mae has $3.2 TRILLION of debt. It has NEGATIVE $128 Billion of equity. That is the definition of insolvent. The assets on their balance sheet are grossly overvalued. If they tried to sell them in the open market they’d be lucky to get 50% of the reported value.
  • Freddie Mac has supposedly generated $65 Billion of profits in the last two and a half years. Their stock price also languishes at $1.75. Their financial reports should be on the funny pages. They’re laughable.
  • The Freddie balance sheet is a laugh riot. They have total debt of $1.9 TRILLION and equity of NEGATIVE $82 Billion. They are also insolvent.

Now for the best part. These insolvent pieces of shit have reported fake accounting created profits of $175 Billion over the last two and half years and then supposedly “paid back” $213 billion to the U.S. Treasury, falsely reducing the reported annual deficits. When Obama and his minions tout the declining deficits, remember the declines are nothing but Fannie and Freddie smoke and mirrors declines.

The Wall Street/Federal Reserve created fake housing recovery peaked six months ago. Prices are headed south. Fannie and Freddie’s toxic balance sheets are filled with worthless mortgage loans that are going to become even more worthless. The farce will continue until morale improves.