The picture above is not for effect, folks. It's the face page from Fannie Mae's Prospectus. In case you have trouble seeing it, or are too lazy to look at it... allow me to help you:
"THE CERTIFICATES AND PAYMENTS OF PRINCIPAL AND INTEREST ON THE CERTIFICATES ARE NOT GUARANTEED BY THE UNITED STATES AND DO NOT CONSTITUTE A DEBT OR OBLIGATION OF THE UNITED STATES OR ANY OF ITS AGENCIES OR INSTRUMENTALITIES OTHER THAN FANNIE MAE" oh... may I add EXCEPT FOR YOU AND YOU AND YOU AND YOU AND YOU AND YOU AND....... ALL THE TAXPAYERS.
Of course... that doesn't appear anywhere, does it?
There. Does that help? Many thanks to The Market Ticker for that one. I've been waiting for the dust to settle on this before having at it, but it suffices to say that I'm absolutely stunned that a lowly mortgage guy such as myself could have predicted this before all the phonies on TV/Wall Street and the U.S. Government. As a matter of fact... we could all see this train wreck coming, couldn't we.
This isn't over by a long shot, people. There are SERIOUS implications to the "Nationalization" of both Fannie and Freddie. Legal, economic and moral. The robber barrons have resurfaced. The fleecing of America is almost complete. Now they've got our homes by the balls.
I encourage you to travel over to The Market Ticker and review. His opinion is a pretty close to mine. More later.
No comments:
Post a Comment