Wednesday, October 29, 2014

We the people

We the people wait for justice as OUR govt TAKES from us every quarter what is not theirs. Why does the govt try so hard to not goto court? Why does obama the OPEN president HIDE so much information? Why do we the People vote these scumbags back into office. They clearly do not represent THE PEOPLE. If you have an incumbent that is up for vote, vote him out. Its time to clean these scum millionaires out of our countries elected congress.
On a side note, Obama will NEVER give Fannie and Freddie to a Republican president. NEVER. Bush had no choice when he left office, F&F were being raped by Paulson and the banks and there was still backdoor tarp bs going on when Bush was put out on street. Obama will never have this problem. He will tell Watt its time, and Watt will release. Remember the Nuclear option used to put Watt in. This will bite the Dems one day soon, but the Nuke was pulled for Watt to release in case the senate or House become republican, same go for president. No republican will be president again while F&F are under WATTS conservatorship.

Receivership is a joke too. How do you put HIGHLY PROFITABLE Private Corporations in a Forced bankruptcy when There is No Housing without them and There is No one going to stand up next and be raped in 5 to 15 years by the FHFA. NO ONE. As long as FHFA has HERA, It can take over any New entity. No ONE will invest in that. HERA killed any other chance of any secondary mortgage market without Fannie or Freddie. Fool me twice, shame on me.

Paulson AIG, STARR- same rationale as he used on FNMA AND FMCC

Paulson Rationale

Paulson offered the court a rationale for treating AIG more harshly than investment banks.
The government avoided punitive terms for the banks because it feared doing so would encourage shortsellers to attack them or other financial institutions, further destabilizing the economy, Paulson told the court.
There was no similar risk of a domino effect in the insurance market, according to Paulson. “I didn’t see another insurance company that was vulnerable” and posed a risk to the entire economy as AIG did, he said.
Paulson said he advocated “fairness to the extent you can have fairness,” but “to me, stability trumped moral hazard.”

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Basically destroy 2 insurers instead of 10 to 15 banks. The banks would of had a run on them by depositors and bankrupted them. This is a good strategy but does not make it legal or right.
mostly who will fill the shoes of the whipping boys, the insurers, on next go round? Who wants to lose all their money when its clear the insurers will be wiped out? here is your answer, NO ONE. 

Great job Paulson for clearly putting the country in danger as no private capital will back up mortgages ever again and it looks like banks want nothing to do with even loaning money for mortgages anymore for fear that since no one is stepping up to insure, THEY(the banks) will have to eat all their bad loans on the next go round, and Bankrupt them.