Fannie Mae (FNMA)

[Patswil]

Andrewsaid:April 30, 2016 at 7:09 am==Important--NEW --From Timhoward717.com

I found some actual numbers concerning TARP and GSEs. This is absolutely crazy.
“Spending for three large programs related to the financial crisis declined by $242 billion, year over year, from $272 billion in FY 2009 to $30 billion in FY 2010: the TARP; assistance to Fannie Mae and Freddie Mac; and deposit insurance activities of the Federal Deposit Insurance Corporation and the National Credit Union Administration (NCUA).”
This means that FDIC and the National Credit Union Administration used the $30 billion, because we never got $1. The FHFA as “Federal Property Manager (FPM)”, under EESA, decided to force GSEs to run TARP on our books. Considering they had accounted for giving us the additional $242 billion to cover the projection in 2009 to run TARP it is extremely likely our entire “bailout” amount of around $148 billion, minus circular draws, was actually entirely us eating TARP funding for Govt program.

This is extremely important and I hate to bring up EESA again but this adds to that discussion and I just found it. According EESA the FHFA can only act under EESA when acting as Conservator. A Conservator would never refuse to draw on the $272 billion allocated to run TARP through GSEs, FDIC, and NCUA and opt to “borrow” money from Treasury through PSPA. This is extremely important and I hope the right people get this information. It is entirely new possible lawsuit that doesn’t challenge sweep or Conservatorship. It challenges FHFA acting as FPM under EESA illegally to force us to run Govt program on our books when money was actually available under TARP to pay us to do it.

If we won this suit, and we really could, any and all losses to GSEs for running TARP on our books would be returned and that is likely entire bailout plus everything they have taken beyond that. They could pay for it with the TARP money we were supposed to get, it still exists, Treasury has over $300 billion in TARP money j
ust waiting to get used.
https://www.treasury.gov/press-center/press-releases/Pages/tg911.aspx
The section I quoted is in second paragraph under chart.