Fannie Mae Begs for Billions More
By Victor Thorn
Fannie Mae, the taxpayer bailed-out home mortgage company, recently requested another $8.4 billion in addition to the $145 billion in TARP money they’d already received. Further bloodletting won’t end soon. On May 10, the AP’s Alan Zibel reported, “The Obama administration pledged to cover unlimited losses through 2012 for Fannie and Freddie, lifting an earlier cap of $400 billion.”
Financial analysts now suspect Fannie Mae of being a slush fund for Obama’s Chicago criminal network. Former CEO Franklin Raines left under a cloud of controversy in 2004, but not before securing a $90 million bonus package.
Unfortunately, Fannie Mae epitomizes an entity that is too large to fail, because they control over half of America’s 31 million mortgages, valued at $6.7 trillion.
This situation arose when international bankers urged President Clinton to pass the Community Reinvestment Act in 1995. This bill allowed universal housing to citizens who could not afford a mortgage.
A housing boom resulted, but when the bubble burst, the market plunged into steep decline. Bankers dumped these toxic loans on Fannie and Freddie.
AFP interviewed Joan Veon, a businesswoman who has attended over 100 UN financial conferences around the world, including many meetings of the most powerful members of the global elite.
“The credit crisis was planned and managed to completely change and transfer the last vestiges of our economic assets to the Federal Reserve,” said Ms. Veon.
“I’m absolutely grieved to see the raping, robbing and pillaging right under the American people’s noses.”
She continued, “The mortgage industry comprises the foundation of our nation’s middle class. Right now, Fannie and Freddie are in a holding pattern. But once an economic collapse occurs, both of them will be raided by international bankers, who’ll swoop in and buy up all the mortgages for pennies on the dollar.”
With so many loans centralized in one place, Ms. Veon said: “It will be much easier to plunder these institutions by a large cartel of central bankers who run the world. Fannie and Freddie are a convenient mechanism to reinvent government. The end game is 21st-century feudalism, with bankers replacing the kings, princes and dukes of old.”
Ms. Veon explained: “Banks got easy profits by dumping bundles of sub-prime loans on Fannie and Freddie, all of which were guaranteed and insured by the federal government. This ruse was accomplished under the guise of promoting home ownership; but really the Community Reinvestment Act was simply another element of a ponzi scheme to inject more artificial money into the system.”
Highlighting the ulterior motives of Fannie Mae was their purchase on June 7, 2005 of patent No. 6904336 for a “residential cap-and-trade system.” The man listed as primary “inventor” is disgraced Fannie Mae CEO
Victor Thorn is a hard-hitting researcher, journalist and the author of many books on 9-11 and the New World Order. These include 9-11 Evil: The Israeli Role in 9-11 and Phantom Flight 93.
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(Issue # 23, June 7, 2010)