Obama's speech on the US economy spelled out the beginning of the end for federally-controlled mortgage buyers Fannie Mae and Freddie Mac. “We’ll work with both parties to turn the page on Fannie and Freddie, and build a housing finance system that’s rock-solid for future generations,” Obama said, according to a copy of his prepared remarks
The House Financial Services Committee approved a bill on Tuesday that would get rid of the firms in five years, to be replaced by a National Mortgage Market Utility to help securitize mortgages.(Excerpt) Read more at blogs.marketwatch.com
ADDENDUM---what Obama left out of his remarks Wall Street Journal report on page A15---article entitled “Treasury’s Fannie Mae Heist“.
WSJ: The Federal government is seizing the substantial profits of the government-chartered mortgage firms, Fannie Mae and Freddie Mac, taking for itself the property and potential gains of private investors the government induced to help prop up these companies. This conduct is intolerable.” A scathing article follows--a must read.
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FBI TIPS PAGE--YOU MAY REMAIN ANONYMOUS ---https://tips.fbi.gov
SUBJECT: Collusion, conspiracy, bribery
IN RE: financial irregularities
REFERENCE: fraud, falsified documents, wire transfers, accounting fraud, etc.
NARRATIVE Taxpayers demand to know the scope and dimension of multiple conspiracies by to collude in sub rosa deals to personally profit and/or to facilitate redistribution schemes WRT DOJ-imposed penalties.
OF INTEREST TO LAW ENFORCEMENT The FBI should interrogate individuals for evidence of multiple schemes to falsify official documents to further fraudulent schemes. The FBI should investigate any and all official documents submitted to the courts.
Crimes might include---conspiracy, collusion, falsifying official documents (a felony), money laundering, tax evasion, extortion, theft, misuse of public facilities.
Examine tax returns with a fine-tooth comb.....especially entries for "interest income."
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Investigators from the FBI, SEC, US Marshall's, state AG's office, the respective areas' Sheriff's Office and the Police Departments should try to unravel how these mortgage/real estate deals were facilitated---appearing to be operating legitimately as problems started surfacing later maybe as part of a long-orchestrated plot or an attempt to deal with a plummeting real estate market.
Allegations might include:
- forged mortgages, deeds and sales of property;
- taking millions of tax dollars for mortgages and land deals without fulfilling the intended purpose;
- fake title company to close land deals;
- taking tax dollars for purposes never built or never finished.
Are any of so-called DOJ-imposed penalties being laundered---then sent to numbered accounts in offshore banks?