Saturday, April 25, 2009

Fannie/Freddie $5 Trillion Fraud

"The alien who is among you shall rise above you higher and higher, but you will go down lower and lower"

Well I know who the Alien is and he was not sent from outer space and I know the Alien was a Community Organizer who sued Banks to give Loans to unqualified applicants of the Acorn variety and I have no love for the thieves at the banks as you can tell if you read through my articles but YES Virginia the banks were affected by the policies of the Alien and his backers the pigs in the Democratic party who forced the Community Investment Act poison on society to bear the cost of like we are now with the Global Economic Crisis.  Of course where the bankers of the other countries and the citizens are concerned I have something to say to you blame your own Thieves you elected them and they made bad decisions to invest in the Toxic Poisons.  Stop blaming it all on America!

Now I see more Fraud is coming out about Fannie/Freddie.  Did you see that $5 TRILLION DOLLARS!

Faced with growing numbers of homeowners unable to make mortgage payments, Fannie decided to fund loans to borrowers that were instant losers.

Known as the “HomeSaver Advance” plan, Fannie used the program to provide “foreclosure prevention assistance to distressed borrowers,” according to its 2008 securities filing.

The plan entailed Fannie funding loans to help distressed borrowers get current on their mortgage payments. Fannie said there were about 71,000 advances made in 2008 with an average value of $6,500.

Oh, how are these loans doing?

They're worth 1.7 cents on the dollar - less than one year later. 

A 98.3% loss that you, the taxpayer, are now responsible for thanks to Herr Paulson, Herr Bernanke and the Goebbels Gang that infest both Washington DC and the mainstream media.

This is just another part of the pure looting operation that has been going on for years, and as I pointed out over a year ago these "loans" were one of the best arguments for Fannie and Freddie being "short to zero" candidates.

But instead of being zeros, their liability (which by the way sums to some $5 trillion dollars!) is now ours since they have been "conserved" instead of liquidated and their executives jailed, which is what should have happened more than a year ago.

No company should be able to get away with this sort of crap - game-playing that looked at the time to be the booking of an intentional future loss for the explicit purpose of hiding a present one.

Now the results are in.

Securities fraud? 

Perhaps - just perhaps - we're finally seeing the "mainstream media" quit trying to "talk up the market", take the damn gloves off and call things what they are.

Better late than never, I suppose.

Look here I knew it was but a matter of time like I told you in The Black Hole.  I refer you to my post Jump You Thieves if you want to know how  I feel about the Alien and his minions the 535 Thieves or The Resident who got donations (Bribes) and who do everything in their power to screw the citizens of The United States.

Will The Resident and his Thieves listen to the CFR?  The CFR is said to be the real power after all and The Smelly One is a member. Few talk about the rear hole Barney either and his skullduggery's or that Fannie/Freddie bonus's totalled $210 Million why is that because of Backdoor Barney's Love Connection? Did anyone notice that Backdoor Barney just pulled a Bait and Switch on the investigations?


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