Bloomberg says it happened. "Federal regulators have directed Fannie Mae and Freddie Mac to start purchasing $40 billion a month of underperforming mortgage bonds as the Bush administration expands its options to buy troubled financial assets and resuscitate the U.S. economy, according to three people briefed about the plan.
Fannie and Freddie began notifying bond traders last week that each company needs to buy $20 billion a month in mostly subprime, Alt-A, and non-performing prime mortgage securities, according to the people, who asked not to be identified because the plans are confidential. The purchases would be separate from the U.S. Treasury's $700 billion Troubled Asset Relief Program.
The Federal Housing Finance Agency, which placed the two companies in conservatorship on Sept. 7, directed them last month to start increasing their purchases of loans and mortgage-backed securities as the Treasury seeks to absorb underperforming and illiquid assets from financial companies.
"For now, they're under conservatorship and they have to be used to keep the flow of capital going to the housing market," former Treasury Secretary Lawrence Summers said in an interview on Bloomberg Television's "Conversations with Judy Woodruff." "They're important to maintaining the flow of government finance" and need to be used actively, he said."
Are we just supposed to dismiss it because TH says so? What about the hidden privileged docs. Are we supposed to just forget those too? And now these articles have all but disappeared from the web. Why? When you're over the target, things start disappearing. Navycmdr's post going to get deleted now too? None of it adds up. Smells of massive Gov corruption. TH was not there when it all went down. He's simply stating an opinion. All conjecture. Absolutely no proof given. The evidence has been hidden from us and judges, who all collect Gov paychecks, have not granted discovery for all to see. He's been bought off. If there's nothing to see, they would have released the docs plain and simple. If there's nothing to see, why scrub the Bloomberg article?
The lies have been coming out of Washington ever since and continue to this day. Are we supposed to believe them now? On what basis? You'd have to be a fool to buy into the narrative now or when it happened.