Skip to comments.Appeals Court Rules Fannie/Freddie Docs Can be Kept Secret
Posted on 08/15/2011 10:07:24 AM PDT by Nachum
So far the U.S. government has bailed out Fannie Mae and Freddie Mac to the tune of at least $130 billion, and perhaps as much as $1 trillion. And yet, the Obama administration continues to stonewall the release of documents that could shed light on why Fannie and Freddie failed, thereby sending the economy into a tailspin from which we have yet to recover. (Those records are housed at the Federal Housing Finance Agency (FHFA) now that Fannie and Freddie are owned and operated by the federal government.)
(Excerpt) Read more at biggovernment.com ...
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Most transparent administration ever.
This secrecy, if a privately owned corporation was involved, wouldn’t even be contemplated. This ruling succeeds, and is intended, soley to protect the exposure of government corruption, to which the court is now a party.
Public documents kept secret. I really can’t stand any more of this transparency.
What do you expect of a DC appeals court?
I thought ALL public agency recrods were... public?
Is this subject to the FOIA?
Hopefully this ruling gets appealed and kicked up to another court.
Yes, I agree. Hopefully the USSC will put a stop to the thuggery and corruption that has taken place at Fannia Mae and Frddie Mac.
obamma and the RATS have a lot riding on keeping this criminal activity secret, imo.
“Hopefully this ruling gets appealed and kicked up to another court.”
Soon I hope. Imagine the condition of the records the longer they are held by those that seek to do them harm.
and perhaps as much as $1 trillion.
when it does come out, in 2013,
it won’t help the Market much...
Words well spoken in a Banana Republic.
By that time the documents will either "mysteriously disappear" or be shredded.
Nothing new from this corrupt so called govt.
The House controls the purse. Republicans supposedly control the house. Simply make the Fannie Mae and Freddie Mac separate bills from the rest and dont send those bills to the floor until they give up those records. At worst they will hold out until day two or three of a shut down.
The only reason for ‘secrecy’ in this instance is they are hiding something. The Congress has oversight. This has nothing to do with National Security. These docs should be public from the get go...................
They have to protect their fellow democrats from the light.I’m sure Dodd was not the only one who got sweetheart loans or worse.
If I were the GOP nominee, I would vow that, if elected, I would make all documents public by executive order on the day I am sworn into office.
The documents that they are trying to get pertain to campaign contributions by Freddie and Fannie to most of the Establishment Politicians.
Freddie and Fannie had so much money that they bought off almost all of the Establishment Politicians from both parties with sizable campaign contributions -- especially the senators on the banking committee.
The Establishment Politicians don't want this information coming out. Freddie and Fannie were by far the primary reason the housing market collapsed. Establishment Politicians from both parties will go to great lengths to protect them so that the American people will never know what happened.
It is a dirty, corrupt system -- especially the Senate. *All* of the senators (except the ones in the Tea Party) need to go.
This pretty much tells me our government is really corrupt.
Hey they put 0bammie in. That was the first clue.
>>>If I were the GOP nominee, I would vow that, if elected, I would make all documents public by executive order on the day I am sworn into office
Make no mistake about it, THIS IS A BIPARTISAN COVER-UP. The whole system is corrupt. Both sides are bought and paid for by Freddie and Fannie.
According to OpenSecrets.org from 1998 through 2008, the top ten recipients of Fannie Mae and Freddie Mac's political largesse are as follows: Senator Dodd (D-CT), then-Senator Obama (D-IL), Senator Kerry (D-MA), Senator Bennett (R-UT), Rep. Bachus (R-AL), Rep. Blunt (R-MO), Rep. Kanjorski (D-PA), Senator Bond (R-MO), Senator Shelby (R-AL), Senator Reed (D-RI). Senator Dodd, the top recipient of Fannie Mae and Freddie Mac campaign contributions, is Chairman of the Senate Banking Committee responsible for regulating the mortgage industry. Notably, President Obama was a top recipient of campaign monies despite being in the Senate for only three years.
The Establishment Republicans are not the good guys.
The entire system is corrupt.
The answer is simple , FNM and FRE bought what they thought were notes at 100% ... The notes in the MBS’s were never properly transferred because there never were any notes ,, just a bookeeping entry assigning collection rights ... they have rights to the current receivables ONLY ... the notes are NOT secured by anything ... we paid a TRILLION dollars for NOTHING ... the fedgov knows that ALL the tier1 capital the TBTF banks have in the form of MBS related securities are worthless but they will protect them til it collapses from knowledge gained in discovery actions in individual lawsuits.