A new controversy has arisen that could wipe out the Obama precious legacy as we know it!
After years of litigation, shareholders of Fannie Mae and Freddie Mac finally have proof that the Obama administration stole billions from them.
Now with this evidence, they will demonstrate to the courts exactly how the Obama administration stole profits earned by the Government Sponsored Entities.
As Democrats and “Republican” RINOs continue to trying their pathetic attempts at falsely portraying President Trump as crooked, it almost makes you wonder if they’re REALLY trying to merely cover up for their own lord-and-savior, Obama, and his litany of criminal behavior?
It seems the “powers that be” are determined to defend the public image of Hussein Obama, but as more and more information comes out, his fabled “good guy” persona is unraveling quickly.
Department of Justice documents newly released under a court order issued by U.S. Court of Federal Claims Judge Margaret in case involving Fairholme Funds [Fairholme v. United States, No. 13-465 (Fed. Cl.)], a company owning shares of the mortgage giants, leave no doubt the Obama administration created a false pretext that Fannie Mae and Freddie Mac were yet in financial turmoil, and lied to Congress, shareholders, and the American public, to implement the “Net Worth Sweep,” on Aug. 17, 2012.
A contrived justification based on a specious argument
As Infowars.com has previously reported, an analysis of Treasury Department financial statements for 2012 and 2013 proves the “Net Worth Sweep” was a complex scheme the Obama administration concocted for Sec. Timothy Geithner’s Treasury to steal without Congressional authorization all GSE earnings, in order to divert the funds unconstitutionally to keep Obamacare from going bankrupt by using Fannie and Freddie’s earnings to pay the low-income insurance subsidies the House of Representatives refused to fund.
Government briefs filed in the Fairholme case before the Eight Circuit Court of Appeals repeatedly argued the “Net Worth Sweep” was necessary to make sure the financially troubled GSEs did not burn through government bailout funds provided by the Preferred Stock Purchase Agreement (PSPA) of 2008, to pay dividends.
But a 17-page internal memo dated Dec. 12, 2011, written by to Treasury Secretary Timothy Geithner by Mary John Miller, the former Under Secretary for Domestic Finance for the Treasury, proves that as early as that date, fully 20 months before the “Net Worth Sweep” was implemented on Aug. 17, 2012, Treasury knew Fannie Mae and Freddie Mac were returning to profitability.