National Debt

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Regulators

Mortgage Related

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Amended Complaint Shows Government Lied To Public About GSEs

freddie fannie

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Summary

  • The government has been winning lawsuits based on the premise that the facts don’t matter.
  • New documents produced by discovery prove that the government has been lying about the facts.
  • Plaintiff lawsuits are like weeds where if one results in a loss, it is appealed and another one is filed with improved reasoning.
  • Freddie Mac reports earnings Tuesday August 1 at 9am.

Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) are two companies that have been in a government run conservatorship handing all their money to the government since 2008 despite the fact there are other shareholders in the public market. These public shareholders continue to point out that the government took over the two, engaged in suspicious accounting to force them to take money and then unilaterally decided to take everything for nothing in 2012 after which it reversed the suspect accounting resulting in a calculated one-time windfall to the government in addition to the sustained and future profitability of two of the most recurringly profitable companies in the United States. On July 27, the Sixth Circuit court heard oral arguments (listen here) for the Robinson case where the government continued to insist that no court can interfere with any action of FHFA as conservator.

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