GOVERNMENT ADMITS FANNIE & FREDDIE HOPELESSLY INSOLVENT
By Daniel at 26 December, 2009, 11:39 am
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The “unlimited aid” statement from the government about giving taxpayer funds to Fannie Mae and Freddie Mac is NOTHING SHORT OF AN ADMISSION THAT THEY ARE HOPELESSLY INSOLVENT and that they will be hideously hemorrhaging untold amounts of money for the foreseeable future. We need an AUDIT OF THESE TWO COMPANIES and an investigation into the practices of management that caused these problems and we need people held accountable and we need both Fannie and Freddie to be LIQUIDATED TO STOP THE FRAUD AND ENDLESS UNLIMITED THEFT OF FURTHER TAXPAYER FUNDS.
The debt of Fannie Mae and Freddie Mac IS EXPLICITLY NOT BACKED BY THE FULL FAITH AND CREDIT OF THE US GOVERNMENT. The US government and taxpayers HAVE NO OBLIGATION WHATSOEVER TO BACK UP THIS DEBT AND SHOULD ALLOW IT TO DEFAULT as both Fannie and Freddie are publicly traded corporations and in no way a part of the US federal government (other than the US government stepping in with huge amounts of funds to prop them up already).
Do SOMETHING!
1,000 prosecutions in the Dinky S&L Scandal and ZERO in this MASSIVE CRISIS!
The Corruption and LooT of Wall Street have completely Bought and Corrupted our Government for less than 0.001% of Wall Street profits.
If you’re Goldman Sachs, you can hock securities made of mortgages that you know are on the way down — telling your customers they’re golden — while at the same time buying insurance against said securities because you know they’re going down - betting against your customers success. In most cases, that’s fraud, but for Goldman Sachs it’s “financial innovation.”
That is the SCAM! Nice and simple!
Their day of RECKONING is COMING!
STOP THE LOOTING. START THE PROSECUTIONS NOW.
- AmericanPatriot
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