By Die ex-onomic Machina
The U.S. housing market continues to slide in one of the darkest abysses in the nations history. New home sales have plummeted, existing home sales posted a record low in January as well. Home prices are dropping like a rock from the sky and foreclosures are running wild. While shadow inventory is set to flood the market this year, producing a bigger glut of unsold homes, which will drive sale price and volume even lower.
Now Fannie Mae, the largest mortgage provider in the U.S. has reported enormous losses topping $74 Billion Dollars for 2009. Earlier in the week, Freddie Mac posted a $21.6 billion loss for 2009. Combined, that is a MASSIVE $95 BILLION DOLLARS lost from both government sponsored institutions. $95 Billion in tax payer monies WASTED and SQUANDERED by corrupt, thieving politicians and suits running these two fraudulent entities.
Fannie Mae spokesperson said they will seek an ADDITIONAL $15.3 Billion in additional funds from the U.S. government this year. The firm has already received $59.9 billion in aid from the so-called stimulus. When you total the amount of tax payer money GIVEN to both publicly funded institutions, it is a STAGGERING $170 BILLION DOLLARS. That’s $170 Billion STOLEN from the American tax payers by Fannie and Freddie alone. How about the Billions more given to all the BANKS who have also stolen tax payer money- via TARP and stimulus? The auto makers? And other many various companies and entities as well.
How many BILLIONS upon BILLIONS are we, the American Tax Payers in debited for? How much more are we going stand for? How much longer before the public stops voting for these same CRIMINALS in BOTH parties- who KEEP stealing OUR money and LYING to us. Where is the conservative movement, at a time when America truly needs it?
The corruption and financial problems with Freddie and Fannie are just the tip of the iceberg. Isn’t it interesting that NO ONE in the socialist mainstream media has done any type of investigative reporting on the suicide of Freddie chief financial officer David B. Kellermann, in April of 2009. Why is that? The cover up behind the real story must be mind blowing. The layers and layers of corruption that are waiting to be uncovered must be staggering. But, has anyone in the Obama run media bothered to vet out the real story? No. Instead, the State-run media falls inline and follows orders, the new order from comrade change and his socialist minions.
Barney Frank, Chris Dodd and host of other criminal executives and politicians are so deeply embedded in corruption with these two institutions and yet no one seems to care. When will be the time to care? Will it be after the left-leaning U.S. government installs State-Run Health Care? Will it be when the jobless rate reaches 20%? Again, where is the conservative movement at a time when America truly needs it.
What happened to the American values of hard work and self-sustainability? What happened to the America from the 1940′s through the 1950′s? A time when our country was at its BEST, with a strong, proud work ethic, solid family values and the staunch will to further democracy? It seems to be gone for now, taken away by the dangerous progressive liberal socialists, the minority groups of the very, very wealthy, the very poor, the corrupt unions, and all of the special interest groups who DO NOT represent the majority of America. -Taken by the brain-washed who believe that a platform of European styled Socialism is the right path for our Nation. Tragically, they are hugely and deadly mistaken.