The Government picked up another blind supporter in their attempted seizure of private companies Fannie Mae and Freddie Mac. None other than the closet Socialist Chris Whalen checked in on the issue with an ill thought out diatribe this week. His anti-shareholder populist message unsurprisingly lacked any rational legal arguments for his outrageous conclusions.Instead, he relied on many of the same tired old lies that our government has used in trying to rationalize this heist.
Chris is no stranger to making delusional claims and we would have likely ignored his latest until we discovered a comment he made on Twitter. In support of his populist manifesto, Chris recklessly tweeted the “The rule of law is dead” today. Ironically the only issue Chris has with the profit grab is the secrecy surrounding it.
On Twitter Chris also showed extreme disdain for Gretchen Morgensen and other journalists who have been courageously exposing the truth.This should serve to confirm to these true patriots that they are getting very close to the truth. The truth that Chris knows will blow the lid right off the scheme he supports.
Chris is an utter disgrace to our democracy and his populist opinions must not be ignored.He joins Peter Wallison on our “most dangerous men in America” list,they both share an uncanny ability to suspend the truth completely in the pursuit of their bizarre ideological agendas. The rule of law is not dead in America, and it will not be allowed to die on our watch.It will have to be pried from our cold dead hands.
Although we are enjoying our vacation in the “Key West Wing” Chris’s outrageous behavior had to be addressed. We had made great progress in getting the financial media to abandon their populist/socialist arguments but were disturbed to see Rupert Murdoch return to his Socialist roots this week.He actually published an article promoting Chris’s report in his Barrons magazine.
Being that we are in the deep south, we felt it is only fitting that we send out a classic southern rock “freedom” song that fit’s nicely with this disturbing turn of events. Keep the Faith!
Edit 2/22/15 (Too late to say, partying late.)
As far as Fannie and Freddies earnings this week we want to call attention to this article in the Economist “Never Been Better.”
In addition, I will add two other key points from the earnings.They are retaining capital that will be useful in the reform release plan.Also the smaller “profit” focuses attention and makes inarguably the point that the GSEs desperately need to recapitalize to protect taxpayers from losses. Simply brilliant.
In an amusing twist this week Charlie Gasparino added to the long list of theories as to who we are. He offered the amusing idea that we represent an unholy alliance of hedge funds and affordable housing advocates. This adds to some of the previous theories that accused us of being libertarians, extreme left wingers and a right wing Trojan horse.
We challenge Charlie to endorse in print our stance on radical Islamists that we posted following the cowardly attacks in Paris.: “I want to begin tonight by expressing our outrage and sadness over the brutal, cowardly acts that took place in Paris. The brutal attack on free speech has left us sickened. To those who perpetrated this and or supported it we caution you that you cannot escape your shadows, and you will pay a severe price. I have often said that the only way to defeat terror is to implement a strategy similar to one the OSS used in World War two where they assassinated influential figures around the world who were either supportive or sympathetic to the Nazi cause. Until we summon the fortitude to crush everyone remotely involved with these cowards, they will not be defeated.That said our prayers go out to the victims and their families.”
Put that in your pipe and try again on another theory. We simply are here to ensure that the truth is not lost in this great debate. Keep the Faith!
http://blogs.barrons.com/incomeinvesting/2015/02/19/recent-fannie-freddie-court-decisions-good-for-bondholders-kbra/ Barrons/Revolution Magazine article pushing Whalens manifesto.