Freddie Mac (FMCC)

[CatBirdSeat]

Busted at last: Obama’s $95 billion SWINDLE 

https://www.allenwest.com/2017/10/15/exclusive-government-scam-thats-keeping-obamacare-alive/ ;

Trump truly wants to deal the coup de grâce to Obamacare, there’s still a massive source of funding for the law that Barack Obama deceptively implemented, and it relates to the one last piece of unfinished business from the past financial crisis: the status of mortgage giants Fannie Mae and Freddie Mac. 

Having required massive bailouts in 2008, the two corporations were placed under control of the U.S. Treasury. Initially, the two organizations agreed to pay the Treasury a dividend each year equivalent to 10 percent of the bailout funds they took, and the Treasury was also issued warrants granting them the equivalent of a 79.9 percent equity stake in the two companies. 

Since the two giants recovered faster than expected and became profitable, the Obama administration saw better returns in seizing the profits of Fannie and Freddie instead. 

Since 2012, every quarter, the two giants have been sending 100 percent of their profits to the Treasury, rewarding the Treasury handsomely. 

Despite the fact that taxpayers bailed out Fannie and Freddie to the tune of $187.5 billion, the Federal government has been paid back $275.8 billion thus far — or nearly $90 billion in excess of that figure. 

And what have the funds been used for? Our current Treasury Secretary Steve Mnuchin has already admitted what many had speculated: that the funds were being used to fund Obamacare[/b]. 

However, there’s a giant flaw in this set-up. 

As a result of all their profits being confiscated, Fannie and Freddie can’t hold any cash reserves of their own. Therefore, any quarter in which the enterprises are unprofitable (which will be inevitable, given that another recession will come eventually), the American taxpayer will be required to make up the difference. 

Why expose the taxpayer to risk to continue funding Obama’s failure? With the stroke of a pen Trump could kill two birds with one stone: by cutting off the stream of Fannie and Freddie’s funds towards the Treasury, he can end Obamacare funding and protect taxpayers.