Infinite Unknown

- ALL IS WELL!!! (The Burning Platform, Feb 6, 2013)

Tags: Barack Obama, Ben Bernanke, Cars, Corruption, Economy, Fannie Mae, Fed, Federal Reserve, Freddie Mac, GDP, Global News, Government, Mortgage crisis, Mortgages, Obama administration, Politics, Society, U.S., Unemployment

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Tags: Alan Greenspan, Banking, Barack Obama, Ben Bernanke, Bonds, Collapse, Debt, Dollar, Economy, Fannie Mae, Fed, Federal Reserve, Financial Crisis, Freddie Mac, Global News, Government, Hyperinflation, Inflation, Japan, Obama administration, Politics, Quantitative Easing, Real Estate, Society, U.S., Unemployment

- Marc Faber: “Paul Krugman Should Go And Live In North Korea” (ZeroHedge, Dec 13, 2012):

If there is one thing better than Marc Faber providing a free, must-watch (and listen) 50 minute lecture on virtually everything that has transpired in the end days of modern capitalism, starting with who caused it, adjustable rate mortgages, leverage, why did the Fed let Lehman fail, why was AIG bailed out, quantitative easing, Operation Twist, where the interest on the debt is going, which bubbles he is most concerned about, a discussion of gold and silver, and culminating with his views on a world reserve currency, is him saying the following: “The views of the Keynesians like Mr. Krugman is that the fiscal deficits are far too small. One of the problems of the crisis is that it was caused by government intervention with fiscal and monetary measures. Now they tells us we didn’t intervene enough. If they really believe that they should go and live in North Korea where you have a communist system. There the government intervenes into every aspect of the economy. And look at the economic performance of North Korea.” Priceless.

50 minutes of Faberian bliss:

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Tags: AIG, Alan Greenspan, Ben Bernanke, Bonds, Bubble, Collapse, Debt, Dollar, Economy, Fannie Mae, Fed, Federal Reserve, Freddie Mac, Global News, Government, Lehman Brothers, LTCM, Marc Faber, Mortgage crisis, Mortgages, Operation Twist, Paul Krugman, Politics, Quantitative Easing, Stock Market, U.S.

- US Treasury Admits It Conducted A Circular Ponzi Scheme For Years (ZeroHedge, Aug 17, 2012):

While one may wonder about the implications of the just announced “accelerated windown” of the GSEs, predicated in no small part by the surge in animosity between Tim Geithner and the FHFA’s Ed DeMarco, there is one aspect of the announcement that is completely and utterly unambigious: as part of its justification to demand faster liquidation of Fannie and Freddie’s “investment portfolio” Tim Geithner gave the following argument:

This will help achieve several important objectives, including… Ending the circular practice of the Treasury advancing funds to the GSEs simply to pay dividends back to Treasury

In other words not some fringe blog, not some “partisan” media outlet, not some morally conflicted whistleblowing former employee seeking immunity, but the US Trasury itself just admitted it had been engaged in circular check kiting scheme, which essentially has all the components of a Ponzi scheme in it, ever since the nationalization (about which there is no now doubt and which means the GSE’s $6 trillion in debt is now fully on the Treasury’s balance sheet) of Fannie and Freddie in 2008.

Transfer one more conspiracy theory into the conspiracy fact bin.

Tags: Fannie Mae, Freddie Mac, Global News, Government, Politics, Timothy Geithner, U.S.

YouTube Added: 13.06.2012

Tags: Banking, Barack Obama, Bush administration, Congress, Debt, Economy, Fannie Mae, Financial Crisis, Freddie Mac, George Bush, Global News, Government, Henry Paulson, Mortgage crisis, Mortgages, Obama administration, Politics, TARP, U.S., Wells Fargo

YouTube Added: 28.05.2012

Tags: Alan Greenspan, Bailout, Banking, Barack Obama, Ben Bernanke, Collapse, Dollar, Fannie Mae, Fed, Federal Reserve, Financial Crisis, Freddie Mac, Global News, Government, Inflation, Obama administration, Peter Schiff, Politics, Quantitative Easing, Silver, Society, U.S.

- Freddie Mac Betting Against Struggling Homeowners (NPR, Jan. 30, 2012):

Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.

But Freddie Mac has invested billions of dollars betting that U.S. homeowners won’t be able to refinance their mortgages at today’s lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.

Continue reading »

Tags: Economy, Freddie Mac, Global News, Mortgage crisis, Mortgages, Taxpayers, U.S.

YouTube Added: 22.11.2011

Tags: Banking, Barack Obama, Bonds, China, Crime, Debt, Economy, Environment, Fannie Mae, Fed, Freddie Mac, Global News, Gold, Government, Jim Rogers, Jon Corzine, M2, MF Global, money supply, Obama administration, Politics, Society, Stock Market, U.S., Wall Street

The article below is from Oct. 21. This is from CNN Money, Nov. 15:

-Fannie & Freddie Executives Score $100 Million Payday (Which Is Essentially Taxpayers Money – Fannie Mae Asked For Another $7.8 BILLION Of Taxpayers Money To Cover Its Losses In Third Quarter)

- Fannie, Freddie Need More Money (FOX Business/Reuters, Oct. 21, 2011):

Fannie Mae and Freddie Mac may need as much as $215 billion in additional capital from the Treasury through 2013 to offset losses and maintain a positive net worth, their federal regulator said on Thursday.

Fannie Mae and Freddie Mac, whose programs fund the lion’s share of all new home loans, are at the center of debate as Congress sets to overhaul a U.S. mortgage finance system that contributed to the worst housing crisis since the 1930s.

The cumulative capital needs of the two housing finance giants, which were seized by the government in late 2008, will likely fall between $221 billion and $363 billion through 2013, the Federal Housing Finance Agency estimated.

Continue reading »

Tags: Economy, Fannie Mae, Freddie Mac, Global News, Government, Mortgage crisis, Mortgages, Politics, Society, U.S.

See also:

- Black Hole Fannie Mae Asks Taxpayers For Another $7.8 BILLION To Cover Its Losses In Third Quarter:

WASHINGTON (AP) — Mortgage giant Fannie Mae is asking the federal government for $7.8 billion in aid to cover its losses in the July-September quarter.

- Fannie, Freddie execs score $100 million payday (CNN Money, Nov. 15, 2011):

NEW YORK — Mortgage finance giants Fannie Mae and Freddie Mac received the biggest federal bailout of the financial crisis. And nearly $100 million of those tax dollars went to lucrative pay packages for top executives, filings show.

The top five executives at Fannie Mae received $33.3 million in 2009 and 2010, while the top five at Freddie Mac received $28.1 million. And each company has set pay targets of as much as $17 million for its top managers for 2011.

That’s a total of $95.4 million, which will essentially be coming from taxpayers, who have been keeping the mortgage finance giants alive with regular quarterly cash infusions since the Federal Home Finance Agency (FHFA) took control of the companies in September 2008.

Fannie CEO Michael Williams and Freddie CEO Charles Halderman, each received about $5.5 million in pay for last year, and they could receive more when their final deferred compensation for 2010 is set. All the executives receive a significant portion of their pay in the year or years after they earn it.

Continue reading »

Tags: Economy, Fannie Mae, Freddie Mac, Global News, Government, Mortgage crisis, Mortgages, Politics, Society, U.S.