Stealing Fannie Mae and Freddie Mac From Taxpayers

Yesterday I wrote about corned beef and Fannie Mae and Freddie Mac, if you didn't read the post, I recommend that you go back and do so before reading this post. The bottom line is simple, taxpayers "bailed out" Fannie Mae and Freddie Mac after they had purchased bad mortgages from banks and after being bailed out, Fannie and Freddie along with the Federal Reserve bought up just about all the remaining mortgages. Funny thing is, Fannie Mae and Freddie Mac have paid the taxpayers back and with interest. They now stand to profit about $18 billion a year for ten years. That is more than enough to fund the postal pensions and those of most others in the Federal government from the profits alone and the government would still own Trillions in assets (mortgages).

There is no way that your congressman are going to allow the government to be profitable, there is too much to be made in selling off our governmental assets at a discount to their friends. Taxpayers were given all the risk and bad debt and will not be allowed to reap the rewards.

Yahoo - CNBC - Corker: Deal to end Fannie, Freddie is just right. I want my readers to pay attention to what this article says. Firstly, it doesn't mention at all that Fannie Mae and Freddie Mac have paid the government back all the money plus interest and completely avoids discussing how much more the taxpayers will get if we hold onto Fannie Mae and Freddie Mac. The slimebag that wrote this article is the worst kind of panderer.

I find this line from his article truly dishonest, "Lawmakers from both parties want to revamp the $10 trillion mortgage market to make it less likely taxpayers will ever be put on the hook again." It is the exact opposite of the truth and is proven if anyone reads the rest of the article. Their solution is to sell off Fannie Mae and Freddie Mac at a discount and keep taxpayers on the hook if they fail beyond the first ten percent and any larger loss would fall on the taxpayers still.

UNRELATED PERSONAL STUFF:

I was listening to music while writing this and my mind wandered. I started thinking about wanting to thank my doctor. A number of years back I stopped seeing my doctors, they seemed to enjoy putting me in the hospital a bit much. I did not like it. Sometime in around 2008 I suffered my first heart attack and still did not go back to see a doctor and had stopped taking my blood pressure and other pills. I may not have my years right; but, basically that was it.

Last year I went back to my medical plan and saw a doctor again. I went in for a simple hemorrhoid problem and didn't want to hear about my blood pressure or have it taken because it was always life threatening. The readings said that I should be in cardiac arrest or passed out. The nurse was horrified. The doctor saw me and my numbers and quickly began considering how to get me into the hospital where I made it clear I did not wish to go. If he would have put me in, I would have avoided him and ignored him like the ones in the past; but, he worked with me. That first day was tough, I had to go through lots of testing to make sure I wasn't having a heart attack. I took it all quite cavalierly. I wasn't that concerned about dying, I just didn't want to be annoyed along the way. I ended up seeing the doctor weekly for a few months and playing pill roulette as we sought to see what combo of medications would bring down my blood pressure at least close to acceptable limits.

We eventually found the right pill mix and my numbers are almost all acceptable and the ones that are not are pretty close, a few weeks back I reported what my doctor said to me. He said when I left his office that first time he almost cried because he didn't think I would live the year. I never thought about it from his perspective. He is around 30 and really involved in the health of his patients, this guy really cares and he got stuck with me. Here I am a guy that didn't seek help after having a heart attack, I had been off pills for years and joked about death. I understand why he felt like crying and didn't think I would live a year. When he got back my EKG and told me I had a heart attack, I laughed and told him I remembered having it and that it had hurt. I even told him where I was when I had it, lovely Baker, California. LOL.

I remember the first time I met my doctor, he said I should be dead and had dodged a bullet. He couldn't believe I was alive. I must have been a odd job to be given to him. I told him he only needed to get me to retirement, he said he wanted to get me better so that I could enjoy my retirement. He did and soon I will retire; but, I had the added blessing of holding my first grandchild, he doesn't know that and when I see him I will tell him about it. I will show him a picture of my granddaughter and thank him for getting me here.