Mike_usa, very good find and thank you for sharing. Indeed this is a good read and I want to take advantage of this post and highlight this section:
(The offending memo, which can be read in full here, contains a phrase as follows:
“Makes clear the Administration’s commitment to ensure existing common equity holders will not have access to any positive earnings from the GSEs in the future.”
Ralph Nader interprets the phrase as a clear indication that the Treasury had every intention of denying the GSE shareholders any benefits from the companies’ future profits. He asserts in his letter to Lew that this was in clear contradiction of the terms stipulated in the GSEs’ preferred stock purchase agreements that their assets be “preserved and conserved.”)
This is very damaging to the govt intention and everyone that was pretending that they were doing everything in good faith when they took over FNMA and FMCC. This also goes against the true meaning of conservatorship.
IMHO - the judge will find this as strong evidence that good intentions were not present once they plan the the over as well as after they took over and started the full sweep to the treasury.
Clearly shows us that there is secrecy and dirty plans were in place to take those companies down.
What makes me feel comfortable is the amount of exposure this is getting in the media and I am sure you and many others remember what I said "as soon as net zero hits, the shit will hit the fan" meaning people will speak up and fight for their right.
It also tells me that due to the amount of lawsuits we have, we are not just pushing our luck...we were done wrong and justice must be served.
Also, not this...once the strong get caught in this dirty game...and they weaken as others in high places will distance them self from them...the media will not care anymore and will hit it in high gear and publish everything all over the place to expose this dirty take down (plans I should say) of our FNMA and FMCC that have served this country for years....and yes.....
It is because of how much money they make, greed kicked in and others wanted a piece of the pie...we tell them....NO WAY!!!!
Once again thanks for sharing. Awesome work!
Cheers Mate,
Crawford.
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