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Fannie and Freddie are the primary resource for retirement funding of over 10.5 million retirees. These retirees have not received one dollar in +14 years.
Excuse me, I believe it was and still is about money and overreach. Why do you think Govt doesn’t want docs exposed that was sealed via exec orders?
How will lawyers convince jury that govt is capable of such a deliberate act? Aren’t there laws in place to protect honest taxpayers?
Here’s an interesting article that I bounced across…wonder how long it will take to sort out the legality of this issue (14 years)?
https://www.latimes.com/california/story/2022-09-23/fbi-beverly-hills-safe-deposit-box-raid-forfeiture-judge
Who is involved with the cover-up and to what extent is the BIGGEST problem/question.
“Why isn’t ackman and others paying for great press to expose the govt theft is my biggest question???”
I will believe it when I see it..don’t trust him.
The judicial system appears to still be aligned to the party that came up with the 3rd amendment sweep and the party that wants to keep them in c-ship.
“He wants revenge for the Gov lying to him in his court room..”
There s a reason it went back to his court - he sold us out once before didn’t he?
Why not add Judge Lambert to the mix? Oh that would require Justice Dept to investigate their own - not a chance.
Are those resources in the form of monies/profits siphoned from Fannie and Freddie?
“That's why I like to tell folks that multi billion dollar litigation just takes time, ESPECIALLY WHEN YOUR ADVERSARY HAS UNLIMITED TIME AND RESOURCES. “
Outstanding reply - thanks for helping others in understanding the money flow.
Lots and of friends acquired via the billions of dollars that may or may not be mentioned in those sealed ‘for the people’ docs.
Shareholders were duped into believing Govt was interested in correcting the housing debacle; however, it appears Congress and courts deliberately allowed the conservatorship to be a tool to finance radicalism that we are still trying to correct.
Again, thanks and keep posting your keen observations and viewpoints.
And why couldn’t the 243Bil not be applied (placed in escrow) towards ending c-ship?
Was this jus a simple case of Govt agency mismanaging the conservatorship? Oops!
* * *
Banks fined $243Bil
Jury should be made aware of all these Govt wants hidden. What a travesty..
Good one ..
Based on past and current events, this situation was an instrument that allowed a power grab (money = power) by an Admin. During this overreach, an Unequal application of justice was and has been applied. How? Until an audit can be done, this was easily applied by utilizing siphoned billions (via net worth sweep) to provide the (aka - turbo) power to turn the mission of the GSEs ship on a dime. Back room deals keep it on its new course. A special committee will be needed to open the executive orders on the decision for the Net Worth sweep.
Can a jury be willing to take the first step to right the course of this misguided ship? Really what is at stake here: preventing Shareholders from making monies on investments that basically Govt implied that they would allow to trade {unencumbered}, or, the rights of individuals established by Constitution?
Thanks - asking for a friend.
Odd typo mistake
Not to get into an argument, but I do not believe Treasury has been audited.
Not to get into an argument, but I do not believe Treasury has not be audited.
Not saying there is or isn’t an escrow; however, would like to know when/where Sweetheart deals were made during Admin when 3rd admin sweep started. It’s my understanding that banks were offered sweet deals if they gave to certain favorite community organizations. These deals that only several in Congress gave much talk about.
I watched many of the Senate hearings. Cannot count how many times Tim G offer closed door conversations with Senators to discuss and or explain certain political positions and/or policies?
Once all those net sweep funds were sent to Treasury, could those funds be tracked?
Were executive orders issued to use those said funds, and for what projects? Many unanswered questions.
Interesting to think that GSE (shareholder) profits could be added to Treasury’s general fund and used for all sorts of payments. Could these payments be used to pay law firms that are defending the net worth sweep and to prolong c-ship?
Again, that’s a lot of disposable cash that was transferred to Treasury. How much was it? Maybe Ron Paul knows more.
After the vote on the floor
Monies were being used for political purposes - failed policies acknowledge fault by B Clinton.
Later, those loose policies pushed a strong structured capital base enterprise to a socialist (nationalized) enterprise.
Where did all those billions go (2008, until Trumps appointee)
please note, prior to Calabrian, all this was done without transparency - why, in order to change a capitalist system to a socialist system?
Furthermore, evidence to hide intentions was sealed (so called executive privilege). Sad that it takes a court to help expose truth.
Collectively, Congress must stop drafting legislation that pulls monies from the GSE‘s for political projects - A practice that got us in trouble leading to the 2008 fiasco.
Only when the GSEs are allowed to exit should community programs be considered. This community requested projects would be reviewed by an elected BOD (non-appointed).
At least this way, we don’t make the same mistake made that got GSEs in trouble before and these can be tax benefits that increases GSEs net worth.
Last but not least, tier 1 capital building should be considered to speed up GSEs departure from c-ship.
If I recall, SC relayed that lower court (5th in this case) needs to fix this as quickly as possible. It was relayed that it would not be easy, but it needs to be done.
Question is, what is the proposed timeframe to get this done?
Aka: Beat Them, Cheat Them & How
Larry, Tim, and Gabby
might as well call them Larry, Mo, and curly
This seems to be a an excuse as to why FHFA has not, to date, produced a report that they are responsible for. Who in Congress will hold them to their responsibility of proving the the GSEs are financially ready to exit c-ship?
After relinquishing over 300 billion to treasury, an escrow type fund shouldn’t have been difficult for treasury to have for this planned and eventful occasion.
Thanks for the link - interesting read. Looking over this, it appears that this article is out of date.
Reading thru the prediction(s), I got the feeling some particulars are in-line with reason, but the timeline of events is way off the mark (given date of article).
Why did the court system allow this case back in the court that missed the correct verdict the first time?
Where is the law that makes this judge accountable?
Look at all the profits Shareholders have not been entitled to. I think I would be a relevant conversation.
Great info for Jury.
GTLA
That’s the one I believe it was mentioned that it would take some work to fix - does Treas/FHFA have a fix (unwind) prepared?
Only been, what, 12 years.
Thanks Louis.
It appears that if there wasn’t a letter of intent that covered the third amendment sweep.
With that being said I don’t believe the third amendment was ever a part of the terms of conservatorship, which will bring the discussion to the table regarding when the government knew that the enterprises would be profitable and decided to raid all of F&F profits (using taxpayers protection as an excuse).
Did Treasury know how profitable F&F were going to be (before adding the 3rd amendment sweep? Was there instructions from WH to do so?
Lots of information the Jury will be privy to.
Will this be recorded for the public to listen to?
Oldie but Goldie! This should receive a sticky award.
It’s a conundrum that’s been in effect since F&F/Shareholder rights were/have been hijacked. BS is the shortened acronym..
Good words as usual, it’s just frustrating (can’t even list the points thereof)..
FHFA cannot act without Treasury’s okay..total BS.
I would believe that the house can call for impeachment of both FHFA and Treasury Directors for collusion of this self-dealing boondoggle.
Objectivity…
I don’t think Her salary was meaningless
https://wallmine.com/otc/fnma/officer/2096580/kimberly-johnson
Nice site - pull to bottom for compensations (let them eat cake):
https://wallmine.com/otc/fnma
Now the 64billion dollar question is, how long before a settlement and release?
Care to predict?
WHY HIDE THEM UNDER SEAL ???
If I recall, executive order seal doc would reveal why and how Obama admin decided to shift monies (including back door bank settlements) to Treasury for President’s general spending fund. The important questions regarding where these special fund payments went and for what reasons? How much money went to the general fund(s)? Why didn’t the payments and bank settlements not go back to the GSEs escrow account to be used towards their release? Was it easier to use a pen and phone, instead of working with Congress to provide funds to swing a capitalist society towards a society that cannot lawfully unchanged bad decisions by a Government that has hidden the facts from the people that placed faith in our government.
Texas Holdem theory…
Maybe change your I’d from skeptic to ‘really skeptic’. Just kidding. Thanks for the post.
Wow, lots of thought..
Need not go too political, but hope you get my point.
I agree, if Congress doesn’t act on comptroller/ regulators’ findings and recommendations - nothing works. Basic community building / infrastructure is lost to corruption and mis-use of public funds.