This has been rumored to be true for a long time now. Independent investigators pondered as to where the Obama Administration found the money to keep Obamacare alive. The profits of both Fannie and Freddie Mae were widely suspected in having played a role. Now we know that it’s true, according to Sec. Mnuchin.
“It is true. They used the profits of Fannie and Freddie to pay for other parts of the government while they kept taxpayers at risk.”
So how do you feel about that? Both Fannie and Freddie Mae are quasi government agencies that were bailed out during the financial crisis and held under government control. My issue with Obama taking from Freddie to pay Paul is that it left the agencies exposed to the downside of the housing market. If the economy went into a tailspin and both agencies failed, the tax payers would be forced to bail them out again. I suppose this is part and parcel of a corrupt corporate theftocracy, stealing from the people in order to progress agenda driven politics. Let’s not sit on sentiment and pretend Obamacare was actually for the people, the poor uninsured, when we both know the chief beneficiaries of the plan are big pharma, medical device makers and hospitals.If you enjoy the content at iBankCoin, please follow us on Twitter