NY Times Uncovers Fannie Freddie White House Scandal

05/24/2016
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Well based on a story released by the New York Times, it would appear that there is somewhat of a scandal with respect to the Fannie Freddie Conservatorship.

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Comments
  • Fannie Mae had a employee stock ownership plan for it’s employees retirement who’s value was liquidated through this theft of ownership wiping out the retirement of 3000 employees. It’s disgusting.

    Mark Skinner May 24, 2016 4:05 am Reply
  • I was in Tampa and this old and on its last leg van drove by with an elderly man driving. On the back of his van was a sign: ‘Congress release Fannie and Freddie Mac. I’ve lost everything. This is all I have left.’ Just a reminder to everyone ‘investor and shareholder’ is an old man put into poverty by our greedy self-serving government.

    Diane Balsara May 24, 2016 4:42 am Reply
  • I also could not share on facebook. Hmm..

    Kathy Sibley May 24, 2016 6:40 am Reply
  • Marcus Weber sounds like just another government worker with his head in the sand about how things work in the real world spouting things he knows nothing about but thinks he does. Carfull who you talk like that to Marcus cuz people that do know how things work know you don’t. And judging peoples dress is typical Lib mud cover attempt for their lack of thought. Shallow lack of substance kidding themselves and like minded, but no one else. Over all the private sector has always ran things better than Government. Always exceptions to every rule Marcus (gotta include the disclaimer for Libs that prey on the 1 Exception).

    Jody Draper May 24, 2016 8:00 am Reply
  • how else do you think they are paying for Obamacare?????

    Bernie May 24, 2016 8:14 am Reply
  • Lets face it. The government is broke. The housing market is a TRILLION dollar market – to the govt. spenders it is a gold mine without guards.They can siphon off billions thru basis points and the public never realizes the govt is stealing from them because those basis points they steal never show up on a closing disclosure or anywhere else. I have been saying for many years that we will soon see the govt taking 3%, yes 3% in secret yield spread of every home loan- in today’s market that pushed the rate up about 50 basis points and on a 150k loan costs the buyer an extra $4500 out of pocket or the buyer takes a higher rate to cover the $4500 and pays out thousands more in interest over the life of the loan. AND NO WHERE IN THE LOAN DOCUMENTS WILL IT SAY “THANK YOU FOR LETTING THE GOVT. STEAL $4500 FROM YOU SO THE POLITICIANS CAN FOOLISHY SPEND IT. If they froze govt. spending at current levels for a decade they couldn’t eliminate the trillions in debt without secretly stealing it from housings secret gold mine- yes, it will be the largest undisclosed tax increase in world history.

    REX WHALEY May 24, 2016 9:01 am Reply
  • Yeah, what Eric Kinneman said!!!

    FL-MTG-BRKR May 24, 2016 9:35 am Reply
  • Totally appalled with gov subverting law/constitution. It why Trump and Bernie are doing well. Establishment both parties better get this right soon or we may no longer have an USA. Pathetic most our elected representatives are purposefully sticking head in sand.

    Randal May 24, 2016 9:36 am Reply
  • This biggest bank robbery in history is closely watched all over the planet. Terribly sad to see the Departement of Justice as a co-perpetrator. Gregg M. Schwind didn’t leave there without a reason.

    Europe May 24, 2016 10:12 am Reply
  • Great job on the video. The truth is sometimes ugly and inconvenient to some. In the case of Fan and Fred, the very little that has come to light so far shows the degree of lawlessness of our public officials. Even so, I do think that only a court ruling may turn this mess around. Even then none of the criminals responsible for this will get shafted, such is the degree of corruption in the US democratic system.

    Macman May 24, 2016 11:50 am Reply
  • This is something I’ve been trying to explain to my coworkbbers and clients for years!
    Funny how when something like this post that is clear and concise on this particular subject comes up, I can’t share it!
    Hmmmm? Is somebody trying to “slip one by”!
    This coming election may be an eye opener for the political elite!

    Hb DealMaker May 24, 2016 4:17 pm Reply
  • What everybody is missing is the fact there is no mortgage industry without Fannie and Freddy. Can you imagine those no down flake borrowers going to the local banks and trying to get a loan. Be glad the government has kept them floating. The government prints up the money and the USA is the only game in town. Its all perception, and the perception is positive now as evidenced by the low rates. Chill, and keep your right wing politics in the toilet where they belong. Hillary is going to win, so deal with it.

    Twogunman May 25, 2016 1:31 am Reply
  • Anyone that uses the term “Right Wing Nut” scares the hell out of me. You only think you know what Socialism is….go live it, then come back and let us know how it went.

    FANNIE-FREDDIE issue is not good. Go Trump.

    Roy Sperr May 25, 2016 5:56 am Reply
  • If these gse companies are so profitable why doesn’t these huge billion dollar bank and wall Street corps just build their own system. Forget about the 43 dti while Fannie is under conservatorship. Non qm could fix this. Stop using the gse’s and build automated systems and bring in secondary markets to divert theflow of capital away from the gov to the privasector. I remember when every lender practically had their own aus. Just duplicate the gse model. Make it clean, and bring in the non gov mbs buyers. But then again. Some of the largest private sector companies that have their hands in buying mbs at a huge premium for the gov may not like this. To much commission involved while the gov is buying mbs. Idk.

    CMR May 25, 2016 8:45 am Reply
  • I was on this site a lot in the beginning. The comments have become less thoughtful. There is much more name calling. For today’s post, it’s not about the administration, it’s about the law. If Fannie/Freddie are to be government agencies, then let’s pass a law doing so. If the law says they are in conservatorship, then let’s work on getting them out. No need to lob verbal grenades, just make a cogent argument for your belief.

    Dan Monson May 25, 2016 12:50 pm Reply
  • For a superb article on the deception that was perpetrated by the White House and Treasury, please go to the following link. It was written on the 23rd of May and ties together much of what I stated in my first post, but, unlike my wordy post, it presents the documentation I could not do in a meager post.

    http://www.nakedcapitalism.com/2016/05/unsealed-documents-reveal-former-white-house-officials-violated-fanniefreddie-conservatorship-rules-apparently-to-advance-bank-enriching-reforms.html

    You can also go to gselinks.com and access it from their website.

    Bob Edinger May 25, 2016 5:13 pm Reply
  • Never said why FNMA needed the money to begin with…
    Because they were FORCED to take on toxic loans…F O R C E D. This was all constructed by the WH, Treasury, and certain individuals.

    Holly June 1, 2016 11:06 am Reply
  • Pingback: How To Know If Mortgage Is Fannie Or Freddie | Last Mortgage

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