A groundbreaking forensic accounting of Fannie Mae was unveiled by Trey Garrison of Housing Wire tonight.I am thrilled to at last be able to share the blockbusting conclusions found within these documents.You have no idea how hard it was to sit silently as breakthrough after breakthrough was uncovered. Though many knew that the entire conservatorship was riddled with lie after lie no one took the time to do an in-depth forensic accounting from the beginning in 2008 right through the lawless third amendment in 2012.
It is now crystal clear that there truly was a massive conspiracy of fraud perpetrated against both Fannie Mae and Freddie Mac.As I shared last night, there is no place in America for schemes like this to stand, the depths of the fraud that have been perpetrated by our government is nothing short of chilling.

Very serious allegations have emerged concerning Fannie Maes former auditor Deloitte.They clearly have some very serious decisions to make in the near future.Their willingness to sign off on such obvious fraudulent books carries a very large liability.Of course, one simple resolution would be to simply restate Fannie Maes earnings. I would also caution Price Waterhouse Cooper to be prepared for a similar fate that is surely coming their way regarding Freddie Mac.

I can attest to the fact that these papers have been very heavily vetted and have passed with flying colors. From some of the biggest names in accounting to high-level government/Treasury officials, the work has been declared true and reliable. Though at first the findings seemed almost unbelievable scrutiny proved them to be rock solid.


To provide a little background as to what motivated Adam to dig deeper than anyone had before I offer Adams powerful answer:

“My dad is a retired state cop with 20 plus years on the force. He is not a wealthy man. In 2008, he bought GSE preferred shares before the conservatorship. Within four months, his shares had lost 95% of their value.I’ve always enjoyed math, so I became a CPA (and have an MS in Finance). I joined KPMG out of college and spent 2007 and 2008 working on Freddie Mac’s Sarbanes-Oxley initiative. Fast forward to 2013, I saw a press release describing Fannie Mae’s massive earnings. I began to dig a bit deeper and saw that much of Fannie’s “net income” was attributable to accounting reserves that had been reversed. I kept questioning: “How Fannie could generate 116 billion in 2013/2014 if it truly “needed” 116b in a bailout?The papers are a result of digging into 10q’s and 10k’s and simply just following the math.”

It’s painful to read about victims like Adams father and some of the other personal stories of massive financial loss that I have shared here on the blog.It is disgusting how those that we have entrusted to positions of great power have abused their authority at the expense of people like Adams dad.

I now want to share the following:

1. Key bullet points

2. Forensic Look at Conservatorship (Papers I, II, & III) Note: Paper III focuses specifically on Deloitte, but all should be read

3. Audit Support Package

4. Audit Support Supplement

5. Excel exercise

1. Bullets Trey HW

2.A Forensic Look at the Fannie Mae Bailout Parts I, II & III FINAL 20150616 (1)

3.Fannie Mae Audit Support (1) (1)

4.Fannie Mae Audit Support Supplement (6)

5.FNMA 20150518 (2)

Number 2 is what Trey shared and consists of three papers that grew from a simple goal of knowing the truth, one leading to the next as the entire scheme was unraveled.The other documents offer powerful support for the conclusions found in the papers. Please share these papers far and wide, it is critical that the conclusions found within reach a large audience. Some of our most loyal allies have already expressed their most sincere gratitude and intend to use this as they work side by side to help bring this dark chapter in American politics to a close.

 I have warned all along that the longer this is allowed to go on the more damage will result. This was the second ace, there are more.

Today’s revelations when coupled with what I shared last night provide a near complete picture of what truly transpired over the last 7.5 years. I encourage anyone in the media or government to reach out to us if they have any questions or need clarifications.

I want to commend both Adam Spittler and Mike Ciklin for their unwavering commitment to our cause. The work that Trey Garrison unveiled tonight was the product of a tremendous amount of work and dedication to the truth.I am honored to have been allowed to be a part of this process. Along with the many groundbreaking revelations that were revealed tonight I have been gifted with a friendship with two great patriots. Keep the Faith!

Edit 6/26/15 Ugoletti Squeals.

Folks I cannot overstate the importance of the redacted motion filed concerning unsealing Ugolettis deposition.I have attached it to this post.
Clearly Ugoletti has smashed the government’s outrageous “death spiral” defense. He contradicted his past sworn affidavit from the Perry Injunction.
This will have huge implications both in the Fairholme trial and the Perry appeal.
“Furthermore, Plaintiffs are prejudiced by the fact that, as things currently stand, they can not use the information in the Depositions in their case challenging the Net Worth Sweep in theD.C. Circuit (or in any other case in which they may participate in the future, for that matter). As explained below, this prejudice is particularly acute because Mr. Ugoletti’s testimony calls into question evidence submitted by FHFA in the district court.”