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Tuesday, January 28, 2014 7:58:41 PM
Can a common man (taxpayer) sue the US Treasury for lending money to FnF without stating how the loan principal would be paid back?
According to some Senators (particularly Mr. Corker), he claimed in the year 2013 that FnF were worthless in 2008, when US Treasury bailed them out with Conservatorship agreement.
We should ask him (and others with similar opinion) to explain why US Treasury agreed to accept warrants of a worthless entity in 2008. Instead, they (UST) should have spelled out the repayment mechanism for its principal amounts (taxpayer's funds) from FnF.
The third amendment does not try to recover money (principal amount) of the loaned funds, instead depends on the 'profits of FnF' for dividends. This is not in the best interest of the US taxpayers. For Taxpayers, it is clear that US Treasury entered into an agreement without protecting the interest of the US taxpayers and therefore the agreement that lent the money should be voided ab-initio or modified with an amendment to the terms RETROACTIVELY and consider anything received so far as return of principal.
Also, this type of agreement (sweeping 100% of the profits from any private shareholder owned corporation) is nothing but a theft of the personal or private property and that should be stopped. Spelling out a repayment schedule of the principal should have been the focus of the UST than the unpredictable dividends from FnF. The victims (FnF shareholders) should be compensated for this theft.
I am willing to be part of the suit as a US Taxpayer as I am concerned about recovering the principal amount lent to FnF 6 years ago.
Thoughts?
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