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USA Blackmailed, taxpayers lied to
Taxpayers get duped as USA is blackmailed into bailing out foreign investors from Fannie and Freddie. Taxpayers told it was to help homeowners.
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Economic Warfare - Part 1
July 16th
Senator Jim Bunning:
"Third and finally, since I expect we will try to get right to questions in the next hearing, let me say a few words about the G.S.E. bailout plan. When I picked up my newspaper yesterday, I thought I woke up in France. But no, it turns out socialism is alive and well in America. The Treasury Secretary is asking for a blank check to buy as much Fannie and Freddie debt or equity as he wants. The Fed’s purchase of Bear Stearns’ assets was amateur socialism compared to this."
August 4th
"Concerns about the financial health of the biggest U.S. mortgage finance company had driven Fannie Mae's borrowing costs to the highest since March the previous week and its shares had tumbled 45 percent on the New York Stock Exchange. Investors in Asia, the biggest foreign owners of Fannie Mae's $3 trillion of bonds, were asking the Treasury to bolster the government- sponsored company and its smaller competitor, Freddie Mac, said three people with knowledge of the talks.
Paulson told Mudd he had a plan to restore confidence in Fannie and Freddie, the core of the Bush administration's efforts to revive the U.S. housing market. ``At that point, the proposal began to take form,'' Mudd, 49, said in an interview. ``We're trying to solve a crisis of confidence. Would this do it?''
The next afternoon, before financial markets opened Monday in Asia, Paulson announced the rescue plan, saying he would seek authority to buy unlimited equity stakes in the companies and their bonds if needed, while the Federal Reserve would lend directly to Fannie and Freddie. Congress included the proposals in a broader housing bill that President George W. Bush signed into law last week.
Asian investors were among the most important groups to soothe because central banks, financial institutions and funds in the region own $800 billion of Fannie Mae and Freddie Mac's $5.2 trillion in debt, according to data compiled by the Treasury. U.S. officials were concerned that sales from the region would push lending rates higher, said the people, who declined to be named because the discussions were confidential. "
You know I've heard that $800 billion dollar number before somewhere...
Oh, I know, it's the amount of the Blank Check that was given to Paulson and the Treasury.
So now we're not just bailing out US investors, we're also bailing out foreign ones too. $800 billion works out to $2,200 from every man woman and child, and it was just stolen from you and sent to Asia...
You should be mad as hell over this. Not only do you have to pay $4 for gas, you're grocery bill is through the roof, you barely make enough to make ends meet and now after Asian investors and their government threatened us our congressmen and senators and even Mr. Bush just rolled over and lifted your wallet.
You need to call your congressmen and senators and DEMAND that they rescind this bill. They lied to you! This bill never was about helping homeowners, it was about bailing out the Asian government.
Who bails out the taxpayer?
September 7th
Why should the Chinese, Bill Gross - or anyone else - be made whole? Right on the face page from the Fannie Mae prospectus states that they are NOT Government Guaranteed.
