Fannie Mae (FNMA)

[955]

That's a great chart showing ownership and ties to the Federal Reserve. Would be interesting to see an update as some of the charts are now 38 years old.

Note the ties between the now bankrupt Lehman Bros. and the New York Fed. Also note Timothy Geithner was President of the New York Fed 2003 - 2009 and Treasury Secretary 2009 - 2013. "In May 2007, he worked to reduce the capital required to run a bank."

https://en.wikipedia.org/wiki/Timothy_Geithner

Insufficient capital by the banks was cited multiple times in the Financial Crisis Inquiry Report as being a major contributor to the 2008 crisis.

For example:

In the years leading up to the crisis, too many financial institutions, as well as too
many households, borrowed to the hilt, leaving them vulnerable to financial distress
or ruin if the value of their investments declined even modestly. For example, as of
2007, the five major investment banks—Bear Stearns, Goldman Sachs, Lehman
Brothers, Merrill Lynch, and Morgan Stanley—were operating with extraordinarily
thin capital. By one measure, their leverage ratios were as high as 40 to 1, meaning for
every $40 in assets, there was only $1 in capital to cover losses. Less than a 3% drop in
asset values could wipe out a firm. To make matters worse, much of their borrowing
was short-term, in the overnight market—meaning the borrowing had to be renewed
each and every day. For example, at the end of 2007, Bear Stearns had $11.8 billion in
equity and $383.6 billion in liabilities and was borrowing as much as $70 billion in
the overnight market. It was the equivalent of a small business with $50,000 in equity
borrowing $1.6 million, with $296,750 of that due each and every day. One can’t
really ask “What were they thinking?” when it seems that too many of them were
thinking alike.

http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf


In 2012, Geithner co-authored the illegal Third Amendment to the SPSPA (Senior Preferred Stock Purchase Agreement) along with Edward DeMarco, FHFA Director at the time, to sweep all profits of the GSE's to the US Treasury.

That's what I've been saying. Fed ownership Chart.

http://www.libertyforlife.com/banking/ownership_of_the_federal_reserve.htm

Thieves, counterfeiters, unconstitutional, private ring sanctioned by our government. Only Ron Paul took a stand.