Everyone knows that Fannie Mae and Freddie Mac, the government-sponsored entities that helped create a market for mortgage-backed securities, played a key role in last year's financial crisis. But the truth is, apparently, worse than that. It seems that Fannie Mae and Freddie Mac--the U.S. government, in effect--"routinely misrepresented the mortgages they were acquiring, reporting them as prime when they had characteristics that made them clearly subprime or Alt-A...." The much-reviled Wall Street bankers relied on those representations by agents of the federal government when they bought and sold securities backed by those misrepresented mortgages.
Thursday, June 04, 2020
Free speech ... or the absense thereof ... FannieMae/FreddieMac Fraud
Saturday, May 15, 2010
Sunday, February 07, 2010
A plan from US Congressman Paul Ryan
One complete alternative plan to the Democrats massive taxes, even more massive spending, and seizing all power for the state ... From US Congressman Paul Ryan
Sunday, January 24, 2010
Tuesday, January 12, 2010
And more evidence the government caused the current financial problems.
Freddie Mac and Fannie Mae deliberately sold very risky loans as high quality low risk paper. FannieMae/FreddieMac Fraud
Everyone knows that Fannie Mae and Freddie Mac, the government-sponsored entities that helped create a market for mortgage-backed securities, played a key role in last year's financial crisis. But the truth is, apparently, worse than that. It seems that Fannie Mae and Freddie Mac--the U.S. government, in effect--"routinely misrepresented the mortgages they were acquiring, reporting them as prime when they had characteristics that made them clearly subprime or Alt-A...." The much-reviled Wall Street bankers relied on those representations by agents of the federal government when they bought and sold securities backed by those misrepresented mortgages.
Friday, November 27, 2009
Ever mounting evidence of Climate fraud
More fudged data. Smoking gun anyone? Climate fraud in New Zealand
It is relatively easy to find out. We compared raw data for each station (from NIWA’s web site) with the adjusted official data, which we obtained from one of Dr Salinger’s colleagues.
Requests for this information from Dr Salinger himself over the years, by different scientists, have long gone unanswered, but now we might discover the truth.
What did we find? First, the station histories are unremarkable. There are no reasons for any large corrections. But we were astonished to find that strong adjustments have indeed been made.
About half the adjustments actually created a warming trend where none existed; the other half greatly exaggerated existing warming. All the adjustments increased or even created a warming trend, with only one (Dunedin) going the other way and slightly reducing the original trend.
The shocking truth is that the oldest readings have been cranked way down and later readings artificially lifted to give a false impression of warming, as documented below. There is nothing in the station histories to warrant these adjustments and to date Dr Salinger and NIWA have not revealed why they did this.
Thursday, November 26, 2009
Interesting article on an experiment with socialism ... by the Puritans. It worked no better then than it has anywhere else it has been tried. PAUL RAHE: AMERICA'S FIRST SOCIALIST REPUBLIC.
Subscribe to:
Comments (Atom)