“A Legislative Proposal to Protect American Taxpayers and Homeowners by Creating a Sustainable Housing Finance System” Thursday, July 18, 2013 1:00 PM in 2128 Rayburn HOB
Full Committee "Protecting American Taxpayers and Homeowners Act of 2013" (Discussion Draft)
This is one of the most obscence pieces of legislation i've seen so far. It reeks with anti-american sentiment.
It's filled with the well-crafted ideas of power hungry madmen and hate-crazed women. I became so enflamed
i wrote hensarling an email....our legaislators are spending WAY TOO MUCH TIME AND MONEY feeding their blood-lust to destroy Fannie and Freddie, and I'VE HAD IT!
here's what i wrote: it might take two parts to get it all in:
The committee should stop this nonsense about eliminating fannie and freddie's role in the American housing finance system, at least to the degree that it appears, and i am very convinced of it, that you are depriving shareholders from participating in the bounty fannie and freddie have bestowed on our goverment ($!32 billion so far) and why this committee feels the 5000 or so shareholders of fannie and 3000 or so of freddie should be kept outside and forced to lose their investments is to me a sign that this entire committee is corrupt, is NOT American, doesn't have enough real interest in making America a better place than to drum up an imaginary problem to solve to get a feeling of being worthy of your elected offices. I am referring to the ""Protecting American Taxpayers and Homeowners Act of 2013" ." That is a hogwash act. Fannie and Freddie wee created with the same purpose as the SEC, to provide fairness and stability in their respective areas of expertise at the time the U.S was coming out of the great depression. Somehow, Fannie and Freddie have been made scapegoats to harbor the blame of the "housing crisis" that aruguably began at differing times, but up through 2007-8. part 2 in reply
The committee's focus should NOT be on changing ANYTHING about fannie or freddie, but about
creating oversight mechanisms to deal with wild-eyed lenders making sub-prime loans to unqualified persons, or giving assistance to the less-than-fully-qualified borrowers to somehow obtain other home-buying assistance. But this waste of time and money about writing and re-writing bill after bill all with the intent of "ending," deimantiling" repealing the charters of, fannie and freddie has taken the tone of a vendeatta against these two GSE's...an undeserved vendetta and the image that is coming across of the committee of financial services is a bunch of blood-thirsty, vampires, draculas, fiends, foaming at the mouth crazies making an animal ritual sacarfice in an unholy murderous dance. Fannie and Freddie are intitutions. The SEC is an insttituion. All were designed for protection of American citizens. Knocking down Fannie and Freddie is knocking a foundation pillar from under the house called America. It has been said, without exageration, that many of our enemy Anit-American forces relish the thought of seeing our foundations breached by unjustifiable changes to our laws and institutions; and persuing this course of "Protecting American Taxpayers and Homeowners Act of 2013" (such a lovely sounding name) furthers Anit-American values and can only harm, not help our nation.
Fannie and Freddie had only minimal, and indirect roles in the housing crisis and really were pawns upon whom were imposed goals of other agencies and entitiies, but certainly not their own. You and committee members have made us Fannie and Freddie shareholders suffer years of doubt and worry, and have sucked up profits that would have allowed us to recover and made a profit on our investments and it's seeming that you won't give up until you're sucked us dry. part 3 next reply
I will note the committee members and at every opportunity share with others the malicious resolve the committee is showing and encourage no one to vote for any of you again. This is a complete waste of money and time. Fannie and Freddie have developed years of experience in housing finance, and it would take a zillion dollars to establish any other system that would provide the opportunity (when operating as intended) for like i said, fairness and stability in the U.S. Housing Finance Market. I feel ALL talk of reformation, elimination should immediately cease, release these GSE's from Conservatorship and return at least this part of our nation back to normal. I encourage you to go to the fannie and freddie websites and read the claims those two agencies are making about themselves, about the number of refi's home purchases, etc they have faciilitated as well as the dollar volume of their activities. Why would the FHFA (as conservator)allow such statements to be published on public websites if those statements and claims were not verifiable. I fear if the course the finance committees in the House and Senate
continues with this blood thirst for Fannie Mae and Freddie Mac, it won't be long before our mortgage guarantee entities and sellers of MBS's will be China Mae and Delhi Mac. Why not? everything is else is going to where labor is cheaper and it seems our own legislators have lost ALL concern for loyalty and faithfulness to the American people.