I want to recap some of the events that made last week quite a barn burner.First I was thrilled to see the memo that came out from the Leadership Council just a day after we released Trevor’s groundbreaking White paper. Their timing could not have been any better.It confirmed to our followers what I have been implying for months, that we are not alone in our quest to open people’s eyes to the dire ramifications that President Obamas inaction would create on this issue.
Politico’s Jon Prior reported : “A coalition of civil rights and progressive groups are urging the White House economic team to reach a settlement with private shareholders of Fannie Mae and Freddie Mac in a way that would provide more funds for affordable housing. …
“‘In exchange for recognizing the private GSE shareholders’ claims and allowing them to recover value, the administration could require shareholders to contribute a portion of their securities to the Housing Trust Fund, the Capital Magnet Fund, or other affordable housing efforts,’ the Leadership Conference of Civil and Human Rights wrote in a recent memo”
A copy of the memo can be found here. https://timhoward717.files.wordpress.com/2015/06/leadership-conf-615.pdf
Black leaders are increasingly becoming keenly aware of what is truly at stake. Many were unaware of the fact that many of the protections they enjoy are tied directly to the survival of Fannie and Freddie.Based on what we have heard and the Leadership Councils memo we know they are prepared to use their influence and power to push for the commonsense reform/release of the GSEs. Many blacks feel as if they have been left on the curb for the last 6.5 years as the big banks who caused the financial crisis have prospered due to massive govt assistance.
Obama has two paths clearly laid out; one is to stay the course and bring great harm to those who played the largest role in electing him. This is the path that the big banks emissaries in treasury push. The other path is to follow a plan such as the ours and the leadership councils and listen to the more rational/ political advisers that do exist.
The filing of the motion to unseal depositions in the Fairholme lawsuit confirmed what our readers new since June 4.
I had heard rumblings from some unlikely sources that the government was up in arms over a motion that was being discussed to share Ugolettis deposition. It will be interesting to see how much of a fight the government puts up trying to block the depositions from becoming public. Will they claim that financial Armageddon will ensue if America learns the details of their scheme to lawlessly seize all of the profits? I can’t imagine how hearing Ugoletti admit that they had considered the big profits coming the GSEs way would roil the markets. I know for a fact that the government was aware of and discussed the massive profits coming prior to the third but to have it be known in the trial would be a game changer.It would be hard to imagine how they could continue once their outrageous circular draw defense is smashed before Judge Sweeney.
We now have a clearer idea as to why the government filed their new motion to dismiss last week.It was in reaction to the political and legal storms that came to light last week. They are desperately clinging to save a scheme that is quickly unraveling. They know that momentum is swinging our way, and they are hoping for another Lamberth style event to derail us.
Renowned GSE/Financial crisis expert David Fiderer once again hit one out of the park last week. His response to Steve Pearlstein was nothing short of brilliant. I present it here and encourage anyone interested in our cause to follow David on Twitter as well as read some of his previous work.Although this article was written in response to Pearlstein, it does make a nice primer for anyone who needs to get up to speed on this, this will prove to be a pertinent resource. https://email@example.com/gse-conservatorships-a-washington-post-article-gets-a-reality-check-3a49554eb865
I want to make it clear that it is not alone that I am able to provide such timely and pertinent updates and insights.Our simple dedication to the truth combined with our ability to ensure confidentiality has attracted key players from every angle of this battle to reach out to us.WE always encourage anyone who believes in our quest to please reach out.
I have been very busy working in various degrees on multiple fronts of this campaign; some are quite obvious to those following closely, and some are being kept under wraps to maintain the element of surprise.There are some incredible blockbusters in the works, and I ask that everyone trust that we are closer than ever to seeing the truth emerge in victory.
Please stay focused, do not allow our opponents to discourage or distract you. The winds of change are beginning to blow as they were last summer before the Lamberth decision. The truth will prevail, keep the faith.