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LETTER: Ralph Nader questions Obama administration’s ‘legal authority’ to shut out Fannie and
dailycaller.com ^ | 2/22/14 | Patrick Howley

Posted on 02/23/2014 8:52:41 AM PST by ColdOne

full title...LETTER: Ralph Nader questions Obama administration’s ‘legal authority’ to shut out Fannie and Freddie shareholders from future profits....

Political activist and former presidential candidate Ralph Nader is questioning the “legal authority” of the Obama administration’s secret decision to prevent Fannie Mae and Freddie Mac shareholders from obtaining any future earnings in the government sponsored enterprises (GSE).

Nader slammed the administration’s actions in a letter he sent to Treasury Secretary Jack Lew, which was obtained by The Daily Caller.

The administration’s decision to shut out shareholders means that the mortgage-lending giants Fannie Mae and Freddie Mac, which received a $189.5 billion taxpayer-funded bailout in 2008 that has already mostly been paid back to the U.S. Treasury, could henceforth see its profits going to the government instead of to the company’s private investors — many of whom had no idea that this policy was in place at the time they invested. This means that the two mortgage giants that largely caused the financial collapse are now essentially nationalized.

(Excerpt) Read more at dailycaller.com ...


TOPICS: News/Current Events
KEYWORDS: fanniefreddie; fanniemae; freddiemac; gretchenmorgenson; morgenson; mortgages; nationalized; ralphnader

1 posted on 02/23/2014 8:52:41 AM PST by ColdOne
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To: ColdOne

You know something is terribly wrong when this administration has pushed things to the point where even Ralph Nader is standing up for corporate profits and the interests of shareholders.


2 posted on 02/23/2014 8:56:25 AM PST by FerociousRabbit
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To: ColdOne

Come on Ralph, don’t question the king.


3 posted on 02/23/2014 9:00:55 AM PST by Mouton (The insurrection laws perpetuate what we have for a government now.)
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To: ColdOne

Sure sounds like textbook securities fraud to me.


4 posted on 02/23/2014 9:01:40 AM PST by jiggyboy
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To: ColdOne

Yep, and it was part of the long term plan.

They need to be ended.


5 posted on 02/23/2014 9:02:31 AM PST by A CA Guy ( God Bless America, God Bless and keep safe our fighting men and women.)
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To: ColdOne

... and the unions... they all thought the bailouts were for them.... no no no no, it is all for meh Obama.


6 posted on 02/23/2014 9:02:54 AM PST by lavaroise (A well regulated gun being necessary to the state, the rights of the militia shall not be infringed)
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To: FerociousRabbit

Well, the White House NEEDS a big slush fund to pay all the folks whose job it is “bundle and deliver” the votes of the dead.


7 posted on 02/23/2014 9:03:45 AM PST by pfony1 (Add just 6 GOP Senators and we "bury" Harry)
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To: FerociousRabbit

Well, the White House NEEDS a big slush fund to pay all the folks whose job it is “bundle and deliver” the votes of the dead.


8 posted on 02/23/2014 9:04:08 AM PST by pfony1 (Add just 6 GOP Senators and we "bury" Harry)
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To: ColdOne

Bookmark.


9 posted on 02/23/2014 9:06:06 AM PST by SunTzuWu
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To: FerociousRabbit
Most people don't know that Nader's a multi millionaire and has been for decades.Those threadbare suit jackets he wears are all part of his schtick.And few people know that Michael Moore,that champion of the little guy who hails from Flint,Michigan,is worth $50 million.
10 posted on 02/23/2014 9:06:43 AM PST by Gay State Conservative (Stalin Blamed The Kulaks,Obama Blames The Tea Party)
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To: FerociousRabbit

Where’s Ralph been? Doesn’t he know the legal precedent was set by that well known lawyer, Al Gore, when he stated there is “no controlling legal authority?”


11 posted on 02/23/2014 9:11:42 AM PST by OpusatFR
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To: FReepers

Click The Pic To Donate

Support FR, Donate Monthly If You Can

12 posted on 02/23/2014 9:15:12 AM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: ColdOne
I'd like to know who Fannie's shareholders are? All of Fannie's capitalization ratios seem completely bizarre (ROA, ROE). Who owns Fannie Mae if it is a GSE?
13 posted on 02/23/2014 9:32:53 AM PST by ReleaseTheHounds ("The problem with Socialism is that eventually you run out of other people's money." M. Thatcher)
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To: ColdOne
WAY too late Ralphie.

Your tongue will remain stuck to the flag pole.

14 posted on 02/23/2014 9:38:02 AM PST by Paladin2
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To: FerociousRabbit

bttt


15 posted on 02/23/2014 9:38:41 AM PST by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: ColdOne

ohoh—Ralphie’s lookin’ for a visit from the IRS.


16 posted on 02/23/2014 9:38:44 AM PST by freeangel ( (free speech is only good until someone else doesn't like it)
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To: ColdOne

Hey Ralph, where were you when the GM shareholders were burned by this President?


17 posted on 02/23/2014 9:39:22 AM PST by Huskrrrr
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To: ColdOne

Legal authority? So let it be written, so let it be done.


18 posted on 02/23/2014 10:00:13 AM PST by Truth29
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To: ColdOne

Well I guess we know where Ralphie put his retirement nest-egg.


19 posted on 02/23/2014 11:04:06 AM PST by Steely Tom (How do you feel about robbing Peter's robot?)
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To: freeangel

Or being found behind the wheel of a crashed Corvair at 3 AM.


20 posted on 02/23/2014 11:09:36 AM PST by KarlInOhio (Recycled Olympic tagline Shut up, Bob Costas. Shut up! Shut up! Shut up! Shut up! Shut up! Shut up!)
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To: ColdOne

Bump


21 posted on 02/23/2014 11:10:22 AM PST by WashingtonSource
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To: ColdOne

How surprising that there was NO domestic news coverage that Fannie Mae & Freddie Mac have been nationalized... And that stakeholders were being screwed over, like during the UAW bailout...

Mark


22 posted on 02/23/2014 11:43:00 AM PST by MarkL (Do I really look like a guy with a plan?)
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To: ReleaseTheHounds

Aren’t shares or bonds of Fannie Mae and Freddie Mac publicly traded?

Mark


23 posted on 02/23/2014 11:48:40 AM PST by MarkL (Do I really look like a guy with a plan?)
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To: KarlInOhio

snicker, snicker


24 posted on 02/23/2014 11:52:15 AM PST by 2111USMC (Aim Small Miss Small)
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To: ColdOne

Ralph Nader? I thought he was dead.


25 posted on 02/23/2014 11:52:18 AM PST by DoodleDawg
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; cardinal4; ColdOne; ...
Ralph Nader questions Obama administration’s ‘legal authority’ to shut out Fannie and Freddie shareholders from future profits
Ralph plans to run again. So ambitious is he, that he'll motor up to his campaign appearances in a Corvair. Thanks ColdOne.
26 posted on 02/23/2014 5:06:14 PM PST by SunkenCiv (http://www.freerepublic.com/~mestamachine/)
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To: ColdOne
Thanks for posting this.

This is a lot like how Obama stole money from Chrysler's secured creditors give years ago.

27 posted on 02/23/2014 5:18:28 PM PST by grundle
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