Bye Bye Banks: Freddie and Fannie Preferred Holders to Take Big Hits?

Anthony M. Freed at 23:33 2008-09-07 said:

Saturday Rant... By Anthony M. Freed

In a conscious effort to produce a website that has useful and poignant content that is open and available to readers of any and all points of view, I try to keep my personal slant to a tolerable level and not interject any of my paranoid delusions into the articles. I will offer them up to some extent, but I try not to profess too much.

But, when my paranoid delusions start becoming terrifying realities, I feel I have an obligation to point them out and make a plea for your concern and attention.

Case in point, my http://YourMortgageOrYourLife.com article from August 25, 2008 (See original post for active links).

Here is more proof they going full speed in their efforts to Fatten Up the GSE Portfolios before they IMPLODE them!

So as More Banks Teeter on the edge and Fannie and Freddie Stock turns to Junk, the Democrats look like they are going to go ahead and try to Implode the GSE’s soon, and draw attention away from security issues, and make the economy the central issue in an effort to win the election.

The only thing worse than that is that the Republicans are determined to Get Us Into Another War or two in their equally Machiavellian scheme to win your vote.

And the Republicans plan kills people.

They knew all along!

And now they are going to make you PAY for THEIR MALPRACTICE

Bastards.

Now I would like to amend the sentiments expressed in that post to read:

They are Killing You - the Republicans and the Democrats - and yet You Vote for Them...

They are Destroying your Country - and yet You Vote for Them...

They Only Want Power, not Peace or Prosperity for You and Me - and yet You Vote for Them...

They are Sending Our Kids to War - and yet You Vote for Them...

They are Robbing You Blind - and yet You Vote for Them...

They are Stealing Your Freedom Through Fear and Debt - and yet You Vote for Them... They are Putting Your Great Grandchildren in Debt to Foreign Powers - and yet You Vote for Them... They are Bankrupting the United States of America - and yet You Vote for Them... It is time to wake up folks, start taking responsibility for yourselves, for your country, for your future. Contrary to what we are taught in school, and what you may read in the those timeless words of the Declaration of Independence and the Constitution, Freedom is Not a Right. Freedom is not a right inherent in your being. You are neither born free, nor do you live free. Freedom is a privilege you have to earn. everyday.

Freedom is a privilege you earn by educating yourself, and contributing to the education of others. Freedom is a privilege you earn by participating in your Democracy as a Citizen Exercising your Right to a Vote on the course of your future. Freedom is a privilege you earn by being an independent thinker, and a collective agent for change. Freedom was wraught from the Blood Sweat and Tears of Patriots who ripped it from the clutches of Tyrants, and now they have a hold of our Freedom again. I am not advocating any particular party, movement or philosophy. I don't like any of them. I am urging you to seek out knowledge for yourself and stop being a sheep - stop being an armchair citizen - start acting like a genuine American. If you want your progeny to be able to say that We, the United States of America, are the Greatest Nation in the History of the World, you had better get off your Fat American Asses and get involved in Your Own Liberty. They are Killing You - the Republicans and the Democrats - and yet You Vote for Them again and again... Did it ever occur to you that the Democrats and Republicans are just the Left and Right factions of the same party? The party of gimme mine and you can go to hell? Do you wonder why the congress is full of Million and Billionaires? They give away your jobs so They can make more profits. They take away you health insurance so They can make more profits. They send our kids to war so They can make more more profits. They make risky investments and then pass legislation to make you bail them out so They can make more profits. When Their investments do make money, They pass legislation to cut Their own taxes so They can make more profits. They deny you affordable medicine so They make more profits. They deny you a decent education so They make more profits. They let your bridges and highways fall into disrepair so They can make more profits. Don't get me wrong here folks, I have absolutely nothing against enterprise and the rewards of hard work. I am all about less federal government and more local control. Money, comfort, success - that's all fine with me - as long as the true cost is not my sole. I will not be indentured by anyone. I like a country full of freedom and opportunity. I like a Democracy. You do realize that our country only functions as a Democracy on the State, County and Municipal level, right? That the USA as a nation is a Republic, where we elect those who are supposed to know what is best for us peasants. It is a quaint Enlightenment Era belief that the Rich, Noble, and Privileged among us are somehow better than the common serf. The oft cited proof of this is the Electoral College. So, the Constitution provides a protection for the aristocracy from popular non-violent revolution at election time. Fine. But the Constitution also provides protections for We, the People - like protection from being spied on by our government. I have had multiple government entities monitoring my website since I started it only weeks ago. If enough people want to see them, I will post the records of their surveillance for you. Why is your government spending your money monitoring stuff I freely post for everyone to read? I am about as dangerous as a rug-burn, but it is happening anyway. The Constitution also protects us from having our land taken by the government and given to another private party, but it is happening anyway. Who is policing the government? Or is it a free-for-all, get yours and to hell with everyone else? The Constitution also protects us from government suppression of our freedom of speech, peaceful assembly and a free press. But the government regularly takes extreme and violent measures to suppress these rights: Setting up "Free Speech" cages far away from political events to hide dissent; Raids on private property and false arrests of peaceful protesters; Ruby Ridge; Renditions; False Imprisonment; Torture; No Habeas Corpus; Military Tribunals in stead of Courts of Law. If you keep voting for Republicans and Democrats you are voting for your own imprisonment - you are voting for your own enslavement - you are voting for totalitarianism for your children. You are voting for Fascism. Reported Today - September 6, 2008:

Cheney threatens Russia with NATO confrontation... Vice President Dick Cheney said Russia's military action in Georgia and assertiveness elsewhere run the risk of confrontation with the North Atlantic Treaty Organization military alliance. "Our principles are being tested anew," Cheney said in prepared remarks today at a global security conference in Cernobbio, Italy. "We must meet those tests with candor and resolve and, above all, with unity. Russia has a choice to make, and we in the trans-Atlantic alliance have responsibilities."

Treasury set to bail out Fannie Mae, Freddie Mac...

The Treasury Department is expected to announce as early as this weekend a plan to bail out and recapitalize collapsing home mortgage giants Fannie Mae and Freddie Mac in one of the biggest government rescues in U.S. history.

War of words escalates between Russia & US...

Russian President Dmitry Medvedev on Saturday accused the United States of rearming Georgia under the guise of humanitarian aid, following the arrival of a US Navy flagship in the Georgian port of Poti. "The rearming of the Georgian regime is continuing, including under the guise of humanitarian assistance. They've sent a whole fleet to provide humanitarian assistance," Medvedev told top officials at a Kremlin meeting. "I wonder how they would like it if we sent humanitarian assistance using our navy to countries of the Caribbean that have suffered from the recent hurricanes," Medvedev said in toughly-worded comments.

Don't Say You Weren't Warned...

It looks like Fannie Mae's and Freddie Mac's tenure as public companies is drawing to a close. Yves Smith at Naked Capitalism (one of my daily must-reads) has put together a helpful overview of the latest (breaking) developments in "NY Times: Fannie, Freddie Nationalization (aka Conservatorship) Imminent"

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