Posted on 02/23/2014 8:52:41 AM PST by 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.
(Excerpt) Read more at dailycaller.com ...
Bump
How surprising that there was NO domestic news coverage that Fannie Mae & Freddie Mac have been nationalized... And that stakeholders were being screwed over, like during the UAW bailout...
Mark
Aren’t shares or bonds of Fannie Mae and Freddie Mac publicly traded?
Mark
snicker, snicker
Ralph Nader? I thought he was dead.
Ralph Nader questions Obama administration’s ‘legal authority’ to shut out Fannie and Freddie shareholders from future profitsRalph plans to run again. So ambitious is he, that he'll motor up to his campaign appearances in a Corvair. Thanks ColdOne.
This is a lot like how Obama stole money from Chrysler's secured creditors give years ago.
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