Replies to post #543070 on Fannie Mae-No Politics (FNMA)

[evenpar]

Someday hopefully 60 minutes or 20/20 will do a piece on this? more than 5 minutes....a half hour in depth on what happened here cuz 99% of people don't know how corrupt and deep this goes

[schnabel]

"Well, Obama was unable to get Obama care funded by a GOP dominated congress. So, he concocted the "secret plan" to take over fnma and fmcc and confiscate the profits to fund Obamacare."

I agree with you on the corrupt takings portion of your post. Your time line is 100% wrong as it was not Obama who "took over" F&F it was done during the Busch administration. As I'm sure you know. Do I think President Obama continued and escalated the takings? Yes!

I do not assume to know what either Administration was thinking/planning when they started/continued the takings, but Busch seemed to intend this as a temporary solution to the mortgage market's continued operation. I base this on the fact that he is on record stating this from the inception of the conservatorship.

Now President Obama on the other hand, as far as I can see, really doesn't go on record anywhere as to what his intentions/legal standings are for the GSEs. But this does not automatically make him complicit in a crime, in my opinion. Simply because I have seen no proof presented to support this. On the other hand. It is tempting to say "If it walks like a duck...." but I must take caution in accusing anyone without proof in part because there are many instances in history that a President's staff has misled/deceived or even gone rogue.

In conclusion, We need to see the entire paper trail of the F&F fiasco prior to casting blame. Even with the entire picture in hand there maybe some reasonable/legal reasons that each part of the timeline played out by the trio of administrations. I do have my doubts to the latter.