Tuesday, December 2, 2014

Its right in the Washington federal lawsuit!
James Lockhart
page 5 section 14
Lockhart states upon conservatorship
“The Enterprises will be allowed to grow their MBS.
The GSE will be allowed to buy replacement securities
without limit. At the rate of 20 billion a month.”
They direct quoted that Lockhart states F&F will buy MBS at 20 billion a month, unlimited!!!
This is where the Losses to fannie came from. As I showed up until Sept 8 when they were put into conservatorship by DURESS that F&F were both Solvent. Fannie had over 40 billion in capital as of that date. 30 days later when they reported the Quarter they took a DTA of over 20 billion dollars and a loss of 9 billion.
The conservator did not preserve, He stole from the shareholders any future value by saving the BANKS from the BANKS toxic assets.

ITS a DIRECT QUOTE. James Lockhart. FHFA.

News on the day of Takeover:
Congressional budget office thinks bailout of F&F could cost 25 billion dollars.
Fannie had 40 billion in capital on this date. More than enough.

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