Fannie Mae is located in Wash, DC.....and both are very troubling quasi govt agencies subsidized and bailed out by taxpayers.
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SALIENT POINTS
<><> A recent Inspector General's report claims Fannie Mae and Freddie Mac are masking billions of dollars in losses.
<><>Fannie/Freddie are centerpieces of the criminal enterprise called the Democrat Party-—appointed Dem cronies and collaborators loot the organization, get cushy jobs, bonuses, etc. Fannie Mae’s political machine dispenses campaign contributions, jobs to friends and relatives of legislators, hires armies of lobbyists (even paying lobbyists not to lobby against it), pays academics who wrote papers validating the sub-prime home ownership mania, and spreads “charitable” contributions to housing advocates across the congressional map.
In sum, Fannie Mae serves as an industrial-sized patronage factory — sharing profits with political allies, spreading taxpayer funds to voting blocs——like ethnic groups-——and doling out jobs to left-wing academics, Washington has-beens and back-scratching cronies.
Franklin Raines, Clinton appointee to Fannie Mae.
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THIS IS AN OFFSHORE WIRE TRANSFER ALERT--POLS READY TO CASH-IN BIGTIME: Obama, himself, says it’s time to ‘turn the page’ on Fannie and Freddie
MarketWatch | 7/24/13 | FR Posted by illiac
Obama's July speech on the US economy spelled out the beginning of the end for federally-controlled mortgage buyers Fannie Mae and Freddie Mac. “We’ll work with both parties to turn the page on Fannie and Freddie, and build a housing finance system that’s rock-solid for future generations,” Obama said, according to a copy of his prepared remarks.
The House Financial Services Committee approved a bill in July that would get rid of the firms in five years, to be replaced by a National Mortgage Market Utility to help "securitize" mortgages. (Excerpt) more at blogs.marketwatch.com
NOTE WELL WHAT OBAMA "FORGOT" TO MENTION Page A15 WSJ report entitled “Treasury’s Fannie Mae Heist“.
WSJ excerpt: The Federal government is seizing the substantial profits of the government-chartered mortgage firms, Fannie Mae and Freddie Mac, taking for itself the property and potential gains of private investors the government induced to help prop up these companies. This conduct is intolerable.” A scathing article follows--a must read.
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A HOLDER F/M COVER-UP? for massive sub-prime mtge fraud perpetrated by (1) the Congressional Hispanic Caucus (as vote-crazed Obama/Dems suck-up for latino votes), AND (2) ACORN.
