Earlier this month, Harvard Ph.D. Jerome Corsi of InfoWars and a CPA “who worked for two years for a major U.S. accounting firm as an outside auditor for Freddie Mac,” confirmed a 2012 scheme hatched by the Obama administration to funnel hundreds of billions in dividends from Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac to prop up the failing Obamacare program – by paying subsidies to insurers to remain in the system.
If you need to catch up on it, read the InfoWars article above or watch this 18 minute video:
The conclusion reached by Corsi and others is that this was probably illegal.
In fact, House Republicans actually sued the Obama Administration in 2014 over the fact that the subsidies to insurers weren’t appropriated by congress and won, which the Obama administration appealed. As Zerohedge and the Atlanta Journal Constitution pointed out last week, the Trump administration has until May 22nd to decide whether or not to pursue the appeal:
In 2014, House Republicans sued the Obama administration over the constitutionality of the cost-sharing reduction payments, which had not been appropriated by Congress. The lawmakers won the lawsuit, and the Obama administration appealed it. Late last year, with a new administration on the other end of the suit, the House sought to pause the proceedings — with a deadline for a status update in late May. –AJC
And a ZeroHedge analysis:
Of course, any decision to remove those subsidies would likely result in yet another massive round of premium hikes and further withdrawals from the already crippled exchanges where an astounding number of counties across the country have already been cut to just 1 health insurance provider. And, as we’ve pointed out before, higher rates = lower participation = deterioration of risk pool = higher rates….and the cycle just repeats until it eventually collapses. –ZeroHedge
Meanwhile, President Trump has made several Tweets since the Ryancare debacle in congress:
ObamaCare will explode and we will all get together and piece together a great healthcare plan for THE PEOPLE. Do not worry!
— Donald J. Trump (@realDonaldTrump) March 25, 2017
The Democrats will make a deal with me on healthcare as soon as ObamaCare folds – not long. Do not worry, we are in very good shape!
— Donald J. Trump (@realDonaldTrump) March 28, 2017
But wait, could it happen even sooner? Former Blackrock portfolio manager Ed Dowd may be on to something…
By not long…do you literally mean weeks as you order the stop of the illegal Fannie/Freddy dividend sweep into Treasury thus ensuring ?? https://t.co/VEQ4bkgduG
— Ed (@DowdEdward) March 28, 2017
Since MSM won't report #Fanniegate all #Trump has to do is stop the steal and Obamacare literally implodes ? Within weeks. Watch Dems run!? https://t.co/vLzeJQbEhR
— Ed (@DowdEdward) March 26, 2017
Simple question: what if Trump’s Treasury simply stopped the illegal dividend sweep NOW? It is the end of the 1st quarter, after all…
Not only would it force the MSM to cover Obama’s 2012 scheme to siphon funds from Fannie and Freddie, the stage would be set for far more sensible healthcare solutions from lawmakers who aren’t simply shilling for the industry.
Update: And look who Trump’s golfing with today – Rand Paul and OMB Director Mick Mulvaney…
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On boy fingers crossed!!! Let’s deny all these people healthcare!!! Fuck them, right??
Trump won’t do jack shit on common sense moves like this. Getting the eerie feeling we’re right back in the Obama years when John boner never fought back because they’re all on the same side. The medical scam is straight up racketeering.
Reversion, how ever did they survive before Obamacare!? All those people dying in the streets making headlines, how can I erase those images of the pre-Obamacare destitution?
Meanwhile, the ACA has devastated the lower-middle class; those whose premiums have doubled or tripled, or who can’t afford insurance at all who have to pay the penalty & aren’t poor enough for a waiver. Fuck their already stretched wallets, right?
And fuck Trump for trying to fix the debacle that Aetna and Humana pulled out of because they were losing so much money – which Anthem is about to pull out of.
https://heatst.com/politics/major-health-insurance-company-says-it-may-pull-out-of-obamacare-for-2018/
Yep, let’s keep illegally siphoning money out of GSE’s to prop up a system that insurers are pulling out of and Americans in between poverty and middle class are being crippled by. Great idea.
Truth be told. “Healthcare” is the ultimate fraud concept. Some of us get sick some of us don’t. Go ask a supposed wise man snake oil salesman called doctors. Why? They do not know anything beyond a fucking mechanic. Blood pressure is what.. They did figure that one out tho. It is a scam to take everyone’s money. Think. Wake up.
Think about it like this. Would you ever take your car to a mechanic and then ask the fucker what is wrong with it?
If Trump gets to do that, if he has guts to do it, it would be the ultimate “I told you so” moment. And then ppl would start taking him seriously. It would be a good start to set a precedent.
Obama designed Obamacare to drive the nation to single payer.
ZPN they survived by waiting till they were seriously sick and going to ER rooms.
Boy car is insurance is expensive expensive for some people too, but we make them pay that. Wow big government!!!! Let’s have no car insurance, who is the govt to require that!!!
Hey ask the people on ACA today I f they want to lose it!!
Just be honest, your preferance is for less people to have converage of it save you money personally, you must be one of those fake Catholics That makes up the grand ol party
How many car insurance companies are there to choose from? Are auto insurers leaving entire states because it’s unprofitable? Does the govt. have to steal taxpayer funds to bribe auto insurers to continue to offer services to people?
The only people I know on ACA have been pretty pissed actually. More $, higher deductibles, and pre-ACA plans a few of them *did* have were deemed insufficient and eliminated.
It was a program designed to fail reversion, and all of your moralizing isn’t going to keep Aetna, Humana, and Anthem from pulling out of it.
Someone send Rand a copy of “The Machiavellians” by James Burnham. Rand and the Freedom Caucus are such strict ideologues they are going to screw things up. It is better to play some chess and stay in power. If we let the marxists win, they are going to flood the country with 3rd worlders for the votes and we will eventually end up like Venezuela- a socialist “utopia.”
http://cnqzu.com/library/Philosophy/neoreaction/James%20Burnham/James_Burnham_The_Machiavellians_Defenders_of_Freedom____19~1.pdf
Agreed ZPN, we should move to medicare for EVERYONE and cut profit making middlemen out of the equation. But not the joke that RYAN-care was……
If we go to single payer, where will all the Canadians and Europeans of means go for their surgeries and complex medical procedures? Unlike those countries, it’s still legal here to sell your medical skills on the free market. I can’t understand how people make arguments against a medical system that is responsible for the majority of medical advancements. Yep, not everyone will have insurance, but they will still get treatments paid for as they have always. Fortunately, life choices are a Major factor in long term health and people are free to choose not to smoke, drink, overeat, and get exercise. Our medical system IS the reason medical researchers are motivated to push advancement.
I’m glad this is finally getting some press. This story needs to be widely spread.
To be honest though, this information is nothing new to the shareholders of Fanny and Fredy. The net worth sweep started in 2012 and we’ve known since 2013 or so. I can’t remember it’s been so long but was plastered on stock message boards. Yes, Obama is a crook. But now, we just had another sweep of 10 billion at the end of March 2017 under Trumps watch. I hope Trump will do the right thing and end the NWS and as a benefit, it will take down Obamacare all the sooner.
BenCBrainard
They can still come here. Just because everything’s covered by single payer, doesn’t mean people can’t pay extra and wait in a plusher waiting room with better looking receptionists if they want to.
If it proves to be true that Administration funding for ACA came from the GSE Net Worth Sweep, does Mr. Trump have a huge problem, even if he wanted to continue status quo?
1) GSEs go to zero capital at the end of this year – there’s a whole lot less capital available to fund ACA as one looks forward.
2) In an economic downturn, the GSE profitability can easily go to zero or negative, with taxpayers having to cover those loses under present circumstances – how is this the consistent funding source that ACA requires?
3) Where else can the Administration find a revenue source large enough to equal that of the GSE since 2012? Quite a bit of likely illegal shenanigans occurred to capture the GSE source – probably because the Administration had no other viable options.