The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label fannie mae. Show all posts
Showing posts with label fannie mae. Show all posts

Friday, July 31, 2015

Social Security: We’re from the government, and we’re here to destroy what remains of the program

One of the funniest and perhaps saddest commentaries regarding the ability of the Federal government to either fix or run a financial enterprise is that when Uncle Sam co-opts a business platform, the end result is almost always insolvency, or the need for taxpayer bailouts.  In fact, all one has to do is look at the government’s takeover of mortgage and student loan lenders Fannie Mae and Sallie Mae to see that elected officials and their bureaucracies are so incompetent when it comes to finance and running a business, they quite often spend more money keeping these entities afloat than the value of the business was worth.
So when the American people desperately need their government to solve a problem tied to the future of Social Security, Congress’s new planned solution and predictable outcome should come as no surprise.
In a new piece of legislation called the ‘One Social Security Act’ (HR 3150), Congress is seeking to merge two separate entities under the Social Security Administration into one, thus masking the insolvency of both programs and making your retirement insurance now fully integrated with those receiving benefits as a disabled American.
Read more on this article here...

Tuesday, January 8, 2013

Consumer and household financial outlook for 2013 bleak

The Mayan calendar prophecies are done, the bell of 2012 has struck midnight, and the Kabuki theater of Congress and the fiscal cliff completed its first act.  But for most Americans here in 2013, the debts, fears, and depressionary future is still here, and the outlook going forward has changed little.

In a new census study from Fannie Mae on Jan. 7, a large portion of Americans do not see the coming year as rosy or fruitful, and many see 2013 as being worse than the previous one.

  • The percentage who expect their personal financial situation to get
    worse over the next 12 months continued to rise, reaching 20 percent and
    the highest level since August 2011.

  • Thirty-seven percent reported significantly higher household expenses
    compared to 12 months ago, a 3 percentage point increase over the past
    month and the highest level since December 2011.

  • At 39 percent, the share of respondents who say the economy is on the right track fell by 5 percentage points from last month’s survey high.

  • Twenty-two percent of respondents say their household income is significantly higher than it was 12 months ago, a slight increase over last month and a 5 percentage point increase over September. - Fannie Mae


  • Expectedly, most economists and financial analysts will give opposing views on the state of the economy during the next 12 months, and most will be saying what their own desires lead them to believe.  However, no amount of low paying jobs, and growing food stamp applications will mask the fact that our economic growth has reached its peak in the last few years, and the coming months will be very difficult for many, with few answers coming by those in power.

    Friday, December 16, 2011

    Three years too late: Sec to finally sue Fannie and Freddie executives for fraud

    During the Savings and Loan scandal of two plus decades ago, over 1100 bankers were arrested, indicted, and jailed for fraud.  In the 2008 credit crisis and subprime meltdown, nary a soul has been interrogated beyond a cursory hearing before the Congressional dog and pony shows.

    So when the SEC in 2011 finally decides to step up and act like they are doing their fudiciary and regulatory duty in suing former CEO's of Fannie and Freddie for fraud and misleading investors on the subprime risk, it is simply a matter of three years too late, and one wonders if this is a simply a political move, rather than a judicial one.

    Between December 6, 2006, and August 8, 2008, (the "Relevant Period"), Daniel H. Mudd ("Mudd"), Enrico Dallavecchia ("Dallavecchia") and Thomas A. Lund ("Lund") (collectively, "Defendants"), made or substantially assisted others in making materially false and misleading statements regarding Fannie Mae's exposure to subprime and Alt-A loans.
    For example, in a February 2007 public filing, Fannie Mae described subprime loans as loans "made to borrowers with weaker credit histories" and reported that 0.2%, or approximately $4.8 billion, of its Single Family credit book of business as of December 31, 2006, consisted of subprime mortgage loans or structured Fannie Mae Mortgage Backed Securities ("MBS") backed by subprime mortgage loans.
    Fannie Mae did not disclose to investors that in calculating the Company's reported exposure to subprime loans, Fannie Mae did not include loan products specifically targeted by the Company towards borrowers with weaker credit histories, including Expanded Approval ("EA") loans. As ofDecember 31, 2006, the amount ofEA loans owned or securitized in the Company's single-family credit business was approximately $43.3 billion, yet none of these loans were included in the Company's disclosed subprime exposure. - Lawsuit filed

    Mudd Fnm Fre Doc

    Tuesday, November 29, 2011

    Crony Capitalism in the Bush Presidency as Hank Paulson gave inside information before the fall of Fannie Mae

    Although most of today's analysis has been on the massive amounts of crony capitalism taking place in the Obama administration with Solyndra and other green energy monies, we cannot forget that it was former Goldman Sachs CEO Hank Paulson who helped solidify an environment of insider information to friends while in the Bush White House.

    Today, BusinessWeek's Michael Serrill and Jonathan Neumann have released a blockbuster report based on a FOIA response by the Treasury, which proves that in America rules are only for little people, that this country has been a banana republic for years, that Animal Farm was spot on, and gives excruciating detail of how Hank Paulson tipped off a select group of Goldman diaspora hedge fund managers about the eventual failure of Fannie and Freddie 7 weeks ahead of this information becoming public knowledge. The report basically is a summary of a meeting that took place at the offices of Eton Mindich's Eton Park headquarters on July 21, 2008, 7 days after his famous '“If you have a bazooka, and people know you have it, you're not likely to take it out," speech and 7 weeks before both GSEs effectively filed for bankruptcy and were put into conservatorship. - Zerohedge

    For anyone who thinks that voting in a different political party to create change, your utopian hopes have been shattered.  Both parties, politicians, and members who make up their cabinets have been bought and paid for long before they got to their positions, and the payoffs for that power is a crony capitalism that hasn't been seen but in Banana Republics, or empires in thieir most corrupt state of existance.