The trial will be closed on Monday. I would suggest the following closing:
This is a clear case of illegal taking of private property.
1. Weeks before NWS was announced, FHFA and UST were clearly told that Fannie and Freddie would be in golden era of profitability. UST and FHFA knew that Fannie and Freddie could afford the interest and rebuild their capital in a few years to end the Conservatorship. But, they still proceed to implement the NWS. Can we call that a highway robbery ?
2. Total PSPA loan was $191B, at the point NWS was announced. 12 months later, Fannie and Freddie reported that they had together repaid $141B as NWS interest. That is 73% interest in one year. Do you believe that NWS is an coincidence ? And in subsequent years, Fannie and Freddie continued to repay around $20B a year as NWS interest. As a responsible conservator, FHFA should at least get UST to withdraw the NWS. Well, they didn't.
3. The NWS changed the 10% interest into "you pay me all your future earnings forever". The revised interest term is a life sentence and illegal as a lending term in civilized world. Are we still living in slavery ?
4. UST is just one shareholder to Fannie and Freddie. There are tens of thousands other shareholders. NWS order Fannie and Freddie to pay all their future earnings to just a shareholder, who happens to be a government party.
5. NWS was an agreement made between UST and FHFA. Both of them are government party. So, it is a government-to-government negotiation to benefit the government.
6. There are tons of emails showing clear intention that USG and FHFA do not want to release Fannie and Freddie. FHFA, instead of being a conservator to conserve and preserve Fannie and Freddie, helps to loot the conservatee.
If USG wants to redeploy Fannie and Freddie for some better use, they should at least pay for it. As a government, they should respect that Fannie and Freddie are private properties. Fannie and Freddie were forced to take up $191B loan in credit in 2009 and repaid $385B in cash. Yet, their loan balance is at $236B (? pls verify the figures). Is it government usury ? This is joking. it happens and for over 10 years.
Shareholders' request is to revoke the NWS and refund the NWS overpayments with interest. Or, use the NWS overpayments to settle the PSPA loan and refund the excessive. Need your help to see that justice is upheld for this simple case of illegal taking of private property. Thank you.
AI
