Wednesday, August 12, 2015

Peekaboo Fannie Mae, Freddie Mac Accounting May Have Helped Circumvent Fifth Amendment

Peekaboo Fannie Mae, Freddie Mac Accounting May Have Helped Circumvent Fifth Amendment



Fannie Mae Freddie Mac Accounting

What is real interesting is 2008, 2009 where the real FAKE losses were generated. This is for Fannie Mae only, but Freddie is around the same idea.

2008. 
53 billion capital in hand, with 18 billion of that in CASH at end of 2008.
loan loss reserve forced as a FAKE loan loss on Fannie 44.9 billion at end of 2008.
add to that the 21.4 billion DTA loss, and Fannie Mae Loss was 66.3 billion in 2008. 
All those losses were accounting losses, not Actual loss. Known as write-downs. 
As you can see those were reversed in 2012,2013,2014 17.3 and 84.1 profit!

2009. 
58 billion capital in hand, with 6.8 billion of that in CASH at end of 2009.
loan loss reserve forced as a FAKE loan loss on Fannie 77.1 billion at end of 2009.
Fannie Mae Loss was 77.1 billion in 2009. 
All those losses were accounting losses, not Actual loss. Known as write-downs. 
As you can see those were reversed in 2012,2013,2014 17.3 and 84.1 profit!

Cash NI = Cash Net Income. 
2008 Net income was 7.6 billion. That's true Income above expenses!
2009 Net income was 5.0 billion. That's true Income above expenses!
The reason Fannie was profitable during 2008, 2009 was they had very few defaults compared to PLS and the Big Banks! PLS lost 5 to 1 compared to Fannie Mae. 
The governments plan to turn Fannie into the "bad bank" to take on losses came as soon as they got control of Fannie Mae and Freddie Mac. Push Fake accounting losses on them, and then send the Real losses from the banks to them and crush Fannie Mae for being bad. It is simple.
Rape Fannie for the benefit of the big banks.
Its all a LIE! 

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