Agreed. This is an attention-getter. I've ordered a dozen hardcopies to show people.
Once the world knows the truth, nobody will want to loan our government money. They'll want Treasuries like they want a bad virus. The government better fix this, fast.
I’d like to address something that is occasionally heard from our detractors, and even from some people posting here. It’s a claim that Fannie and Freddie are private-government hybrids, and that therefore we shareholders don’t own them, and that it’s ok for the government to abuse them any way it wants.
First, Fannie Mae was fully sold (privatized) to shareholders, by the government, decades ago. Since then, Fannie Mae has not been Federally guaranteed, in fact it was explicitly documented by Treasury documents and Fannie Mae prospectuses. Freddie Mac was always shareholder owned, fully private.
Fannie and Freddie have Federal “charters” (essentially a business license to do what they do.) They are regulated, as are many businesses. That does not make them hybrid, or part of the government. Over the years, Congress has made demands, the “UNFUNDED SOCIAL MANDATES,” of Fannie and Freddie, basically extorting them, and effectively saying, “do all that we want, or we take away your charter (business license.)” This was governmental bullying. It does not make Fannie and Freddie hybrid private-government companies.
Fannie and Freddie are good, effective, private companies that are regulated, and have also been bullied by the government, for so long that the government assumes it has a right to do the bullying. To call them private-government hybrids is exactly the same as calling bullied children, “child-bully hybrids.” It is incorrect and unfair.
P.S., the government is entirely ungrateful for Fannie and Freddie carrying out the UNFUNDED SOCIAL MANDATES all of these years. Much like a bully who would never think to be grateful for everything he stole from his victims. There should be legislation that prevents future bullying of Fannie and Freddie, prevents more unfunded social mandates being thrown at them, at Congress’ whims.
There is actually an ancient prophecy, from The Morrigan, that mentions these days, inckuding "conquests without a king" (without a legitimate leader.)
History will record this as the 8 years during which some idiots thought we had a President, but we did not.
Consistent with the gag order. "You consented. Here's your gag order. You cannot say you didn't consent." The courts can handle this.
Also, see this Wall Street Journal article:
Securities Fraud Lawsuit Dismissed Against Freddie Mac
By ALAN ZIBEL
Sept. 27, 2012 4:05 p.m. ET
The accusations arose from politically motivated misinformation (fraud at OFHEO and elsewhere.)
There was no fraud at Fannie or Freddie. Federal Judge Richard Leon, in 2012, dismissed the “securities fraud” charges against the former Fannie executives. His written decision praised their integrity. All the other accusations have likewise been disproven. David Fiderer's new ebook (on Amazon) exposes the phony accusations.
It really is the largest and costliest crime wave in human history, followed by the largest theft in history, all while the largest miscarriage of justice and largest conspiracy to obstruct justice, in human history, were performed!
We may need a very drastic response to reign all of this in. Extended statutes of limitations for RICO charges, against potentially millions of criminals, might suffice. If nothing else works, Intear vigilante justice will have to fill the void.
Investors of the world would be wise to think twice about where to keep their money. Our government is arguably worse than Greece, just hasn't defaulted yet.
Shameless, factually incorrect kowtowing for the fraudster big banks, Countrywide and the like, and their enablers.
I thought Bethany had done some research? I’m shocked that she leads with the erroneous, “heads they win, tails, taxpayers lose,” canard. They were not guaranteed by the government, they have never cost the government a dime, and they did not need a bailout. They did not cause the crisis, the fraudster big banks and their enablers did.
Even Bernanke now says it was a mistake, to let all of the criminal fraudsters, who caused the crisis, to escape prosecution and prison.
It is long past time to stop blaming the good guys. Free Fannie Mae and Freddie Mac! Jail the fraudsters!