For the second time this week the government has confirmed the critical news that you read here first. The Treasury Department confirmed that Dr. Mike Stegman is being moved out of Treasury to a post on The National Economic Council where he will serve as Obamas to housing policy. As we reported earlier, we believe Mike will be pushing the CSP to be used as the means to eliminate Fannie and Freddie. Fortunately FHFA director Mel Watt is honoring his role to preserve the assets of the GSEs and understands that the intellectual assets are just as valuable as the cash that former FHFA chief Ed Demarco so freely gave away to the Treasury. I must say I found it amusing when the Wall Street Journal reported on this today three days after we broke the story.Isn’t it ironic that although the Journal has made a deal with the devil to exchange coveted access for their blind backing of the government in the lawless seizure of the GSEs we are getting critical news before them? Gretchen Morgenson explained this very accurately in a speech she delivered at the Page One awards banquet:
“My second issue is closer to home — and it concerns the state of journalism today. That is, the rise of access journalists — those whose stories help their hidden sources promote themselves and their views — and the decline in accountability journalists. These are the folks who seek to hold powerful people responsible for their actions. Who, as the saying goes, seek to afflict the comfortable and comfort the afflicted.”

Quite simply the Wall Street Journal is notorious for this type of despicable behavior.Gretchen also delivers a scathing indictment of the Obama administration’s secrecy surrounding the GSE lawsuits. We have learned that the reason the administration is fighting so hard to make future privilege logs “protected” is because of the publicity that they attracted when released earlier in the year.The administration is furious at the attention that the privilege logs attracted to their lawless behavior. We also learned that the second deposition caused great concern amongst Justice Department attorneys.Our source is fairly certain that the deposed was none other than Mario Ugoletti and judging by the concern I am sure Mario had to address his prior lies relating to the true reason for the third amendment. Hopefully for his sake he heeded our advice and was more truthful concerning the huge windfalls that we now know they discussed prior to sweeping all of the profits to Treasury.

On March 30th we cautioned;

From our March 30th post:

“In the “Fairholme Lawsuit”, there will be a status conference tomorrow morning at 11 am concerning depositions.If Judge Sweeney allows depositions to proceed at this stage, it will change the dynamics of this battle greatly in our favor.It will be fascinating to see how the co-conspirators navigate the multiple conflicting reasons that have been given for the 3rd amendment sweep.We caution those who will give depositions not to make the same mistake Mario Ugoletti did and gave sworn testimony concerning the false reasons for the 3rd amendment. Please take note of our last post and remember that no one besides Attorney Schwind is defending the now obvious false reasons for the sweep. Should you risk your career defending under oath what no top level officials will even defend in public? Before you give your testimony, take a good look in the mirror and ask yourself if you ever imagined you would be forced to consider lying under oath as part of your service to our country? Also do not forget that the cover up is so often far worse than the crime in situations like this, Mario Ugoletti and others may soon have to learn this the hard way, you don’t have to. You do not want to join the list of those likely to soon be facing perjury charges.”

I would greatly appreciate if the Justice Department could confirm our tip that Mario was the second suspect to be deposed. The quick turn around concerning Depositions starting with Demarco was terrific.

I am attaching links to Gretchen’s speech, and I encourage everyone to not only read it but memorize it. I hope any journalists who read it take her comments to heart and forego the allure of access journalism and become warriors of the truth.Access journalists like those at the Wall Street Journal pose a huge threat to our democracy.Gretchen also had this to say:

“As the newspaper business has caved in on itself, the lure of being an access journalist has never been stronger. It is far easier to write stories that benefit a powerful source than it is do the kind of work that requires you to take on armies of spinmeisters and take enraged phone calls from high-level players. Along with the sharp decline in ad revenues and profits in our business comes the temptation to pursue stories that aren’t likely to alienate advertisers. While I do not see this at The New York Times, it is a real threat to readers across the country. It could mean they will not get the truth about questionable doings in their city halls, state legislatures and even our nation’s capitol.”

Take it from me that once you prove that you are committed to the truth and beholden to no one true patriots will help ensure you get the facts. Keep the Faith! (Gretchen’s entire speech)