Fannie, Freddie raided to prop up Obamacare
(Infowars) WASHINGTON, D.C. – With Treasury Secretary Mnuchin confirming the Infowars.com report revealing the Obama administration diverted profits from Fannie and Freddie to keep Obamacare afloat, President Trump is positioned for a big win regarding the two Government Sponsored Entities (GSEs).
Since the election, President Trump has received many letters from inner-city community leaders and pastors in the African-American community urging him to realize the importance of community banking to restoring home-ownership in minority communities throughout the nation.
On May 1, 2017, President Trump invited a group of bankers from the Independent Community Bankers Association to the White House.
“Community banks are the backbone of small business in America,” President Trump noted. “Many of you are the reason that young families can purchase their first homes, farmers can buy their next tractor, and entrepreneurs can open up their first business, creating many, many new jobs in our country.”
As can be seen in the chart below, on May 2, 2017 Freddie Mac reported first quarter earnings and finally passed the critical threshold of paying the United States Treasury back its share of the $187 billion of principal it borrowed from the government during the financial crisis, plus the additional 10% dividend that they had negotiated with the U.S. Treasury under the 2008 Senior Preferred Stock Purchase Agreements (PSPAs).
On Friday, May 5, 2017, Fannie Mae reported it’s first quarter financial statements and is now spitting distance from that same repayment in full. By having chosen to allow the Net Worth Sweep to be paid at the end of the First Quarter 2017, President Trump has set himself up to announce:
“The GSEs have met their full responsibility to the taxpayers, and unlike the Troubled Asset Relief Program (TARP) signed into law by President George W. Bush in October 2008, and other bailouts, where at most the U.S. Treasury earned a 6-9 percent return, the GSEs have paid the U.S. Treasury over 26% percent returns. Now that there is no longer a question of ensuring the taxpayers be repaid as that has now happened, we must require the GSEs to build capital, we must fully implement the Housing and Economic Recovery Act of 2008 (HERA) so that we can ensure these companies are safe, sound, and never again place the taxpayer at risk.”
Should the DOJ prosecute Obama & his administration for stealing billions to illegally fund Obamacare behind Congress’ back? Should this be used to undo Obamacare once & for all? Tell us what you think in the comments section below.