Replies to post #354646 on Fannie Mae-No Politics (FNMA)

[big-yank]

If you are into conspiracy stuff, here's an "item" for your weekend adventures into Fanniegate. There's a lot of mystery around the Michael Sammons/Sweeney exchanges that struck me. First of all, I do not see where Sammons is seeking intervention because of a district court preference. It reads more, to me, like a request for a different judicial arbiter. To me, that could be the SCOTUS. Can't say for sure.

But the most interesting question can be found on page 6 of Sweeney's order #338 and her statement that "Cede & Co." is the "nominal holder of record" for Sammons shares. Therein lies a very interesting and possibly intriguing confluence of connect-the-dots possibilities. Could be nothing more than a broker-to-broker transfer of FNMA preferred shares (as in an inheritance) to Mr. Sammons. But it could have other, more sinister significance in who might be behind an attempt to unseat Judge Sweeney from the Fairholme suit. There is a hierarchy of ownership that approximates as follows: Cede is owned by the Depository Trust Clearing Company. The DTCC is owned by The Federal Reserve. The Federal Reserve is owned by 12 huge Global Banks. Is Sammons a front for some higher agenda than a $1 million investment stake?

I can't say so, but there is a LOT of suspicion surrounding Cede/DTCC that reads like an Agatha Christie mystery. Here's just one eye opener. It is lengthy, but worth the time.

JMHO.

[JosephS]

Eh. This isn't a conspiracy. It is clearly a blatant, brazen attempt at a full takeover of both companies. It is along the lines of Citibank claiming that Wells Fargo owes Citi the entire market cap of Wells Fargo because they supported Wachovia bank for 7 to 10 days as they made and basically were approved to have bought WB. (Then Wells swooped in)

The gov't is basically saying we own you because you had access to our funds.

Period.

Problem is, the companies never needed their funds. The accounting proves it. Enron, WCOM, KM, Etc. went under due to lack of liquidity. That is ultimately how companies go bankrupt. Can't pay the bills. That didn't ever happen.

Could it have if everyone decided not to buy any MBS paper? Maybe....

We will never know because the MBS they issued was the best on the street.

Even though some of the garbage in their was misrepresented.

There is also no conspiracy needed when it comes to handing all of the business to the largest money center banks. Every proposal makes it clear to the smaller lenders that they will be muscled out and forced to be on the sidelines. They have sent letters expressing that very concern.

No conspiracy needed. It is all telegraphed and openly stated in many ways quite clearly.

Don't listen to me. Listen to the FCUA, Community banks and countless congressional leaders. Ask Rosner. Ask Howard. Ask people who know how pols are funded and jobs are garnered after "public service"....

[IL Padrino]

I hope you're right, but history says you're not. Nothing indicates this will speed up at all