Tag Archive: Freddie Mac


$3.39T Quantitative Explosion: Fed Owns More Treasuries and MBSs Than Publicly Held Debt Amassed From Washington Through Clinton

 

 

” The same day that the Federal Reserve’s Federal Open Market Committee announced last week that the Fed would continue to buy $40 billion in mortgage-backed securities (MBSs) and $45 billion in U.S. Treasury securities per month, the Fed also released its latest weekly accounting sheet indicating that it had already accumulated more Treasuries and MBSs than the total value of the publicly held U.S. government debt amassed by all U.S. presidents from George Washington though Bill Clinton. 

Since the beginning of September 2008, in fact, the Fed’s ownership of Treasury securities and MBSs has increased seven fold.

As of the close of business Thursday, the Fed said, it owned approximately $2,052,055,000,000 in U.S. Treasury securities and approximately $1,339,771,000,000 in mortgage-backed securities—for a combined total of about $3,391,826,000,000 in Treasury securities and MBSs.

The U.S. Treasury divides the U.S. government debt into two parts: debt held by the public, which includes publicly traded Treasury securities such as Treasury bills, notes and bonds, and intra-governmental debt, which is money the Treasury has borrowed out of the Social Security trust fund and other government trust funds and then used to pay current expenses.

As of the opening of business back on Nov. 23, 2001, according to the Daily Treasury Statement, the federal government’s total debt held by the public was $3,383,605,000,000.”

 

 

 

 

 

 

 

 

 

 

Las Vegas Suburb Accused of Plotting to Seize 5,000 Homes with Eminent Domain to Flip Them for a Profit

 

 

 ” The City intends to target for seizure mortgages 1) that are performing, i.e. current in their mortgage debt obligation of the homeowner; and 2) where homeowners owe more on their mortgages than the current fair market value of their home, i.e. ‘underwater’ mortgages; and 3) that are owned by private securitization trusts in secondary mortgage market lending portfolios rather than backed by the federal government through Fannie Mae, Freddie Mac, or the Federal Housing Authority. 

     “An example of the functioning of the Plan is a home in North Las Vegas worth $200,000 in the real estate market today but with a $300,000 current mortgage balance. The City plans to condemn and seize privately owned residential mortgage loans and to pay the owner of that note what it believes is just compensation, say, $150,000 for purposes of the example, from money borrowed from private investors. The City would then purport to accept a short payoff of the mortgage loan originally seized, through a new loan for, say, $190,000, if such new financing could be found and the homeowner can qualify for same. The City then plans to extinguish the original $300,000 note it had seized for $150,000 and to pocket the $40,000 difference as revenue to the City. 

     “There are, by City estimates, approximately 5,000 mortgages in North Las Vegas that qualify and will be targeted for seizure by exercise of the power of eminent domain. “

 

 

 

HT/AgainstCronyCapitalism

 

 

 

 

 

 

 

WAL-MART VS. THE GOVERNMENT

” I know lots of folks don’t like Wal-Mart, but this is fascinating.

This is spot-on.

PLEASE, READ THIS TO THE END. IT IS VERY INTERESTING!!!

Wal-Mart vs. The Morons

1. Americans spend $36,000,000 at Wal-Mart Every hour of every day.

2. This works out to $20,928 profit every minute!

3. Wal-Mart will sell more from January 1 to St. Patrick’s Day (March
17th) than Target sells all year.

4. Wal-Mart is bigger than Home Depot + Kroger + Target +Sears + Costco

K-Mart combined.

5. Wal-Mart employs 1.6 million people, is the world’s largest private
employer, and most speak English.

6. Wal-Mart is the largest company in the history of the world.

7. Wal-Mart now sells more food than Kroger and Safeway combined, and
keep in mind they did this in only fifteen years.

8. During this same period, 31 big supermarket chains sought
bankruptcy.

9. Wal-Mart now sells more food than any other store in the world.

10. Wal-Mart has approx 3,900 stores in the USA of which 1,906 are
Super Centers; this is 1,000 more than it had five years ago.

11. This year 7.2 billion different purchasing experiences will occur
at Wal-Mart stores. (Earth’s population is approximately 6.5 Billion.)

12. 90% of all Americans live within fifteen miles of a Wal-Mart.
You may think that I am complaining, but I am really laying the ground
work for suggesting that MAYBE we should hire the guys who run Wal-Mart
to fix the economy.

This should be read and understood by all Americans… Democrats,
Republicans, EVERYONE!!

To President Obama and all 535 voting members of the Legislature,
it is now official that the majority of you are corrupt morons:

a. The U.S. Postal Service was established in 1775. You have had 234
years to get it right and it is broke.

b. Social Security was established in 1935. You have had 74 years to
get it right and it is broke.

c. Fannie Mae was established in 1938. You have had 71 years to get
it right and it is broke.

d. War on Poverty started in 1964. You have had 45 years to get it
right; $1 trillion of our money is confiscated each year and transferred to
“the poor” and they only want more.

e. Medicare and Medicaid were established in 1965. You have had 44
years to get it right and they are broke.

f. Freddie Mac was established in 1970. You have had 39 years to get
it right and it is broke.

g. The Department of Energy was created in 1977 to lessen our
dependence on foreign oil. It has ballooned to 16,000 employees with a budget of
$24 billion a year and we import more oil than ever before. You had 32 years to get
it right and it is an abysmal failure.

You have FAILED in every “government service” you have shoved down our
throats while overspending our tax dollars.

AND YOU WANT AMERICANS TO BELIEVE YOU CAN BE TRUSTED
WITH A GOVERNMENT-RUN HEALTH CARE SYSTEM??

Folks, keep this circulating. It is very well stated. Maybe it will end
up in the e-mails of some of our “duly elected’ (they never read anything)
and their staff will clue them in on how Americans feel.

AND

I know what’s wrong. We have lost our minds to “Political Correctness”
!!!!!!!!!!!!!!!!!!

Someone please tell me what is wrong with all the people that
run this country!!!!!!

We’re “broke” and can’t help our own Seniors, Veterans, Orphans, Homeless
etc. and the last months we have provided aid to Haiti, Chile, and Turkey and now
Pakistan ( the previous home of bin Laden). literally, BILLIONS of DOLLARS!!!

Our retired seniors living on a ‘fixed income’ receive no aid nor do
they get any breaks.

AMERICA: a country where we have homeless without shelter, children
going to bed hungry, elderly going without needed medicines, and mentally ill
without treatment, etc.

Imagine if the GOVERNMENT gave U. S. the same support they give to
other countries. Sad isn’t it?

*99% of the people receiving this message won’t have the guts to forward this.

*I’m one of the 1% — I Just Did
BEING UNITED SAVES AMERICA!”

New Study Confirms Economy Was Destroyed By Democrat Policies

 

U.S. Rep. Barney Frank (D-MA), Sen. Charles Schumer (D-NY) and Sen. Christopher Dodd (D-CT) brief the media after a meeting on Capitol Hill

Alex Wong:Getty Images

 

 

” A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing market (the Community Reinvestment Act–enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

Again, let’s review:

-President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.”

 

  Not really news to us that pay attention , but still nice to see in print from a significant news source .

Despite Concerns By Fellow Democrats And Civil Libertarians, The Senator Says There’s Ample Oversight On Spying

Ample Oversight … Where have we heard that before ? Oh yeah . The Stimulus , Fannie Mae , Freddie Mac , Pigford , Gunwalker , Benghazi , Solyndra , need we go on ? Charlie Rangel , Maxine Waters , William Jefferson , Domestic Drones , TSA ?  Secret Service , GSA ?

” However, outgoing chair of the Senate Intelligence Committee Sen. Dianne Feinsten, D.-Calif., defended the surveillance practices permitted under FISA’s current provisions. “I don’t think there’s any program that has more vigorous oversight,” she said in response to Wyden Thursday. Feinstein said that in regards to stopping domestic terrorist attacks in recent years, the surveillance program “has worked,” noting that some of the 100 arrests made over the past four years to prevent attacks on U.S. soil have been made based on intelligence gleaned under FISA.

According to the Guardian, “National Security Agency whistleblower Bill Binney has estimated that the agency has ‘assembled’ 20 trillion transactions between U.S. citizens.”

As Wyden put it Thursday, I think, when you talk about oversight, and you can’t even get a rough estimate of how many law-abiding Americans had their communications swept up by this law … the idea of robust oversight, really ought to be called toothless oversight if you don’t have that kind of information.”

 

 

 

 

 

 

 

 

 

 

Outrageous…

 

 

Fannie Mae Largesse

 

 

HT/Glenn Reynolds

 

FHA Red Ink May Be $32.8 Bil, Double Official Audit

 

 

 ” The Federal Housing Administration is in the red, according to an official audit released Friday, making a taxpayer bailout “all but certain.” But the reality may be even worse.

The FHA’s capital reserve was -1.44% of loan guarantees, or -$16.3 billion, according to a new independent audit. Last year reserves were still positive at 0.24% and $2.6 billion.

By law, the FHA — which insurers mortgages, mostly for low-income borrowers — is supposed to have a capital reserve of 2%.

The report prompted the chairman of a House Financial Services subpanel, Rep. Scott Garrett, R-N.J., to say that “a taxpayer bailout of the Federal Housing Administration is all but certain.”

And Ed Pinto, a resident fellow at the conservative American Enterprise Institute, says the truth is even worse. “

Illustration By Nate Beeler