Fannie Mae (FNMA)

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MUST SEE!

This is a nationalized industry. It is NOT capitalism. It is a nationalized industry and it's the biggest industry in the United States with $12 Trillion dollars worth of mortgages outstanding. You can not have the government running this business.

- Dick Bove

I think that the claims court under Judge Sweeney has made decisions concerning the provision of discovery documents to the public which will show pretty clearly that Judge Sweeney at least seems to believe that the government has overstepped it's bounds. The net effect is if one of the things Mr. Mnuchin can do is he will have all of this information which the Treasury is refusing to make available to the public. When that stuff is made available to the public and if he makes it available to the public, what is likely to be discovered is that the Obama Administration lied to the public concerning the need to take all the profits of Fannie and Freddie, that they knew these companies were going to be highly profitable and instead of letting that profitability go to the shareholders, grabbed it for the US Government.

- Dick Bove

Thank you 10bambam!

Dick Bove link to video

http://newsvideo.su/video/5778614