As I said last week, The Obama administration was furious over the leaked memos, so they had the FHA roll out their Orwellian Fannie/Freddie stress test results. I also learned that at the same time they were pushing the bogus stress test claims ; there were closed door battles between the OMB (white house budget office ) and the CBO (congressional budget office ) underway. They took great care to try and prevent this from leaking. The OMB and CBO are battling over how much money the government stands to gain from Fannie and Freddie in 2015. They were closed door/off the radar meetings, and they even used veiled language to ensure that this would not leak out and spoil the stress test news. Imagine the irony that the at the same time they were trying to mislead people into thinking the GSEs pose a dire financial risk to the country, they were bickering over just how profitable they truly are. I must also note that the Obama administration has no true plans to unwind Fannie or Freddie their main motive right now is to keep their profits flowing into the federal coffers, money they feel they desperately need and deserve.
Johnson/Crapo and our enemies in DC feel they have nothing to lose by holding a vote in the banking committee. As Washington has proved again and again, they will use every weapon they have to dampen our momentum, and this is the single biggest weapon in their arsenal right now, don’t expect them to squander it.
There has been much going in our favor in relation the huge role Fannie and Freddie play in our economy. I will be sharing on this in the next few days. Keep the Faith!