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It is now midnight. The reprieve from the House never came. The Switch is pulled, and Democracy in America has been extinguished. The Executioners were those that we Entrusted to care for our well-being. As the life wained from our bodies, our lives flashed before us. We thought of our loved ones, the sacrifices that so many made to secure our Freedom, our Founding Fathers, who escaped the Tyranny of Kings and Despots to establish that shining City on the Hill, now replaced by new Kings and Despots, with names such as Bush, Pelosi, Frank, Obama, McCain, and the list goes on. We looked at our children and our grand children, who were forced to watch our execution. With our last dying breath, we called out to them:
"Continue the Fight. Do not give in. Unite. Don't let the new rulers divert you with false arguments between two mythical political parties. They are just bread and circuses. We love you children, grand children. We leave you our spirit and our history. Use it wisely. Live to fight another day.
As part of our legacy, we have left you documents, hidden for safe keeping, that will, with proper care and use, allow you to once again light the flame of Democracy and Freedom. Those documents are our Declaration of Independence, and the Constitution of the United States, once revered as sacred, but on a Dark October Friday in 2008, burned by those despots that now control what is left of America. Read them, take their words to heart, and rekindle the flame of freedom and Democracy. It is our gift to you."
fight with what? our "votes"? we are helpless... puny... insignificant... they take whatever they want, whenever they want.
NEW YORK--(BUSINESS WIRE)--Pursuant to Section 21(D)(a)(3)(A)(i) of the Securities Exchange Act of 1934 (the “Exchange Act”), Entwistle & Cappucci LLP (“Entwistle & Cappucci”) (www.entwistle-law.com...), a prominent New York law firm specializing in securities litigation, hereby gives notice that it has filed a class action complaint for violations of the federal securities laws against Merrill Lynch, Pierce, Fenner & Smith Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. Inc., UBS Securities LLC, Wachovia Capital Markets LLC, Stephen B. Ashley, Daniel H. Mudd, Stephen M. Swad and Robert J. Levin in the United States District Court for the Southern District of New York. The lawsuit is brought on behalf of all persons or entities who purchased Federal National Mortgage Association (“Fannie Mae” or the “Company”) 8.25% Non-Cumulative Preferred Stock, Series T (“Series T Preferred Stock”) (NYSE:FNM-T) from May 13, 2008 through and including September 6, 2008 (the “Class Period”).
The complaint alleges that the Defendants concealed and misrepresented to investors the Company’s overall financial health as well as the adequacy of the Company’s capital, which had dramatically diminished as a result of its mortgage-related losses, poor underwriting standards and risk management procedures. Such misrepresentations and omissions were contained in the Company’s information statements, quarterly and annual reports and offering circular (“Offering Circular”), which was issued to investors in connection with the offering (“Offering”) of the Series T Preferred Stock on or about May 13, 2008.
As alleged in the complaint, in 2007, U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke urged Fannie Mae to raise more money and bolster its balance sheet in order to comply with existing and impending regulations. Accordingly, Fannie Mae embarked upon a capital raising campaign, which was designed to reinforce the Company’s balance sheet for: (i) continued satisfaction of government mandated capital requirements, thus allowing the Company to continue purchasing mortgages from banks nationwide; (ii) to increase shareholder value; and (iii) to provide stability to the secondary mortgage market.