LETTER: Ralph Nader questions Obama administration’s ‘legal authority’ to shut out Fannie and

dailycaller.com ^ | 2/22/14 | Patrick Howley

[ColdOne]

full title...LETTER: Ralph Nader questions Obama administration’s ‘legal authority’ to shut out Fannie and Freddie shareholders from future profits....

Political activist and former presidential candidate Ralph Nader is questioning the “legal authority” of the Obama administration’s secret decision to prevent Fannie Mae and Freddie Mac shareholders from obtaining any future earnings in the government sponsored enterprises (GSE).

Nader slammed the administration’s actions in a letter he sent to Treasury Secretary Jack Lew, which was obtained by The Daily Caller.

The administration’s decision to shut out shareholders means that the mortgage-lending giants Fannie Mae and Freddie Mac, which received a $189.5 billion taxpayer-funded bailout in 2008 that has already mostly been paid back to the U.S. Treasury, could henceforth see its profits going to the government instead of to the company’s private investors — many of whom had no idea that this policy was in place at the time they invested. This means that the two mortgage giants that largely caused the financial collapse are now essentially nationalized.

[FerociousRabbit]

You know something is terribly wrong when this administration has pushed things to the point where even Ralph Nader is standing up for corporate profits and the interests of shareholders.

[Mouton]

Come on Ralph, don’t question the king.

[jiggyboy]

Sure sounds like textbook securities fraud to me.

[A CA Guy]

Yep, and it was part of the long term plan.

They need to be ended.

[lavaroise]

... and the unions... they all thought the bailouts were for them.... no no no no, it is all for meh Obama.

[pfony1]

Well, the White House NEEDS a big slush fund to pay all the folks whose job it is “bundle and deliver” the votes of the dead.

[pfony1]

Well, the White House NEEDS a big slush fund to pay all the folks whose job it is “bundle and deliver” the votes of the dead.

[SunTzuWu]

Bookmark.

[Gay State Conservative]

Most people don't know that Nader's a multi millionaire and has been for decades.Those threadbare suit jackets he wears are all part of his schtick.And few people know that Michael Moore,that champion of the little guy who hails from Flint,Michigan,is worth $50 million.

[OpusatFR]

Where’s Ralph been? Doesn’t he know the legal precedent was set by that well known lawyer, Al Gore, when he stated there is “no controlling legal authority?”

[DJ MacWoW]

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[ReleaseTheHounds]

I'd like to know who Fannie's shareholders are? All of Fannie's capitalization ratios seem completely bizarre (ROA, ROE). Who owns Fannie Mae if it is a GSE?

[Paladin2]

WAY too late Ralphie.

Your tongue will remain stuck to the flag pole.

[BenLurkin]

bttt

[freeangel]

ohoh—Ralphie’s lookin’ for a visit from the IRS.

[Huskrrrr]

Hey Ralph, where were you when the GM shareholders were burned by this President?

[Truth29]

Legal authority? So let it be written, so let it be done.

[Steely Tom]

Well I guess we know where Ralphie put his retirement nest-egg.

[KarlInOhio]

Or being found behind the wheel of a crashed Corvair at 3 AM.