iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
16,726 Blog Posts

CONFIRMED: Obama Used Profits From Fannie and Freddie Mae to Subsidize Obamacare

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.

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37 comments

  1. frog

    Obama would have given us Singer Payer, which most Americans are in favor of, if Congress would have voted it in. But they wouldn’t.

    Of course Obama is for the people, as much as the Deep State would allow him to be. He made compromises to get things done. But he did as much for the people as he could. We should be so lucky as to ever have a president that much in favor of the people, ever again. He was 100 trillion times more in favor of the people than crony capitalist welfare queen Donald Trump ever was. Trump is not worthy to kiss Obama’s feet.

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  2. frog

    ObamaCare is a great gift from Obama, because it might end up being single payer, where the people benefit, not the 2nd MIC– Medical Industrial Complex.

    I hope it will be soon. The only way to fix ObamaCare and actually make it better, rather than worse, is to make it Single Payer. So if citizens put enough pressure on Congress to really fix it, that’s what we’ll get

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    • derp

      Froggy fuck face is like a broken watch. Right twice a day.

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    • it is showtime
      it is showtime

      1. see below

      2. obamacare was “not supposed to” need fixing. that’s what so many of you left-dupes are missing. supposedly the final government version of healthcare needed. yet here you are arguing how flawed it is?

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  3. it is showtime
    it is showtime

    Guess what chokepirates?

    This originated from Jerome Corsi, an – Alex – Jones – contributor, about – 4 – weeks – ago. Now “hitting” traditional media.

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  4. Dr. Fly

    Single payer is unfair. Why should I pay for a 400lb fattie?

    Best option is regulation of drug prices and devices, coupled with pooled insurance based off risk.

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    • derp

      That’s exactly fucking right. You can unbundle cable in the year 2017 but you can’t with your medical care. It’s bullshit. Don’t get sick, that’s my fucking health plan.

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      • metalleg

        But I can’t help but get sick…..of Frog.

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      • fellowtradr

        derp that would work, but unfortunately we still have the mandate and the penalty. No longer can a man live off the land if he so chooses.

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    • ferd

      All sides in DC are in agreement …pre-existing conditions shall be covered. So whatever they come up with, it will not be “insurance” …so let’s drop that word altogether. Also, hospital emergency rooms will still be required to service the indigent, the illegals, the just-dropped-in-to-deliver-a-new-citizens; so forget insurance.

      Government is so involved that, if they can’t be gotten out of the system (not likely), then at least some form of single payer would cut out the insurance companies’ vig.

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    • matt_bear

      it’s already unfair in it’s current state. Your hospital stay is exactly the same whether your payment source is medicare, medicaid, your employer provided/private insurance, or you’re just a bum off the street. The sheets, bed pan, food, procedure….all the same.

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    • acehood

      Dumb. Pooled insurance doesn’t work because it’s never adequately funded.

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  5. nocigar

    Mexico is off the hook. Fannie/Freddie will pay for the Wall.

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  6. bushwacker2

    Obummer gets 400 grand each time he talks for an hour and makes a joke about Trump. This is his reward for being in bed with Wall Street and Big Pharma for 8 years+. Frog is a blind, brain-washed drone. Listen to and embrace Frog’s excremental drivel at you own risk.

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    • frog

      Obama had to make some compromises to get some things done. If a president doesn’t ally with the banks, they will probably keep that president from getting anything else done.

      Trump is getting nothing good done, is effing up things royally, and is in bed with every single crony capitalist welfare queen known to humankind. Robbing the nation blind in every way possible

      Too bad that facts and reality give you so much pain.

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      • din

        You are painful to read…..

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        • chuck bennett

          Again,

          Frog , what he fuck is your occupation?

          Are you around retarded people all day long or just children under he age if 15 years ?

          It’s gotta be one or the other.

          Any bets?

          Regards

          Chuck Bennett

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          • kugar

            I’m doubling down and betting on “retarded children under the age of 15”.

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          • frog

            Standard Right Wing ad hominem fake argument.

            Asking for my age, my occupation etc., because you want to use some personal characteristics of mine, to try to discredit my good factual rational arguments.

            Because you have nothing factual or rational to say. Only silly insults.

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          • frog

            “Ouch, ouch. Facts. Rational arguments. I can’t breathe” say Kugar and Chuck.

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        • frog

          “Ouch, Ouch, facts, oh no, I can’t breather.” Says Din.

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      • moonshot

        Translation:

        Obama good! Excuse. Excuse.

        Trump bad! Bias. Lie.

        No facts in sight.

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  7. frog

    We have the worst president we’ve ever had, who effs everything up, lies constantly, and is a total ignoramus about how government works. Are you Right Wingers concerned about that?

    Of course not.

    What are you concerned about? Some tiny real flaws, and a lot of imaginary flaws of the previous president– not a perfect man, but the best president we’ve ever had. He gives of his time to work as a community organizer? That’s bad. He makes a lot of money giving a speech to a bank? That’s bad too. No matter what he does, it’s bad to you Right Wingers.

    That’s the Fox/Breitbart propaganda formula you people are using:
    1) A Democrat does or says something
    2) How can I paint that as bad, even if it’s really good or neutral?

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    • chuck bennett

      Frog

      You are babbling on at a faster rate than normal. Clearly we are on to something.

      Why don’t you write on a subject that everyone would like to hear you comment on?

      Regards

      Chuck Bennett

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    • moonshot

      Project much?

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  8. masteroneass

    ACA sucks. It will get destroyed not by politics but by tech.

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