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5 Trillion MORE dollars to fix Fannie Mae and Freddie Mac??

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posted on Aug, 20 2010 @ 06:46 AM
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5 Trillion MORE dollars to fix Fannie Mae and Freddie Mac??


theeconomiccollapseblog.com

Fannie Mae and Freddie Mac have become gigantic financial black holes that the U.S. government endlessly pours massive quantities of money into. Unfortunately, if the U.S. government did allow Fannie Mae and Freddie Mac to totally implode, both the mortgage industry and the housing industry in the United States would completely collapse. So essentially the U.S. government finds itself between a rock and a hard place.

(visit the link for the full news article)




posted on Aug, 20 2010 @ 06:46 AM
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These corrupt banks are a huge drain on US taxpayers, and yet another means for the Gov to siphon off the people's money.

And guess who owns the PATENT for CAP AND TRADE? Yes, Fannie Mae and its subsidiary CO2e.com. They still own this, despite the government take over!!

Link to article:

findarticles.com...

Snippet from article:

Quote:
Patent No. 6904336 was approved by the U.S. Patent and Trade Office on Nov. 7, 2006 -- the day after Democrats took control of Congress. Former Sen. John Sununu, R-N.H., criticized the award at the time, pointing out that it had "nothing to do with Fannie Mae's charter, nothing to do with making mortgages more affordable.

It wasn't about mortgages. It was about greenbacks. The patent, which Fannie Mae confirmed it still owns with Cantor Fitzgerald subsidiary CO2e.com, gives the mortgage giant a lock on the fledgling carbon trading market, thus also giving it a major financial stake in the success of cap-and-trade legislation."

Unquote.

For a small insight into the huge corruption within Freddie Mae and possible government collusion in that corruption, see how Caroline Herron lost her job with Freddie Mae for telling the truth about corrupt practices, and has turned whistleblower and launched a lawsuit against them.

www.bnet.com... ;content

My, oh my, the incestuous nature of the financial giants!









theeconomiccollapseblog.com
(visit the link for the full news article)



posted on Aug, 20 2010 @ 07:05 AM
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Best quote in the article:


It is hard to even put into words how much money that is. If you were alive when Jesus was born, and you spent one million dollars every single day since then, you still would not have spent one trillion dollars by now.

But Fannie Mae and Freddie Mac are not a one trillion dollar problem.

They are a five trillion dollar problem.


S&F OP. I still have to investigate the connection with Cap & Trade. This is interesting and something I haven't heard before. Implications, implications....



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