The Lid Has Truly Blown Off
” The Government made assertions in the D.D.C. Fairholme litigation that are undermined by the unredacted information. The D.C. Circuit and other courts should have access to the relevant facts in making their decisions.”
Folks the bombshell of bombshells dropped tonight. A series of redacted motions in the “Fairholme Lawsuit” has revealed a treasure trove of evidence that blows the government’s defense out of the water. I am poring over the motions now and have posted PDF versions below.
The light of truth is shining brightly on the governments river of lies tonight.
As I have stated many times recently, Mario Ugolettis prior sworn testimony has clearly been proven false. We now see just why our government has been desperately trying to fight the release of these incriminating documents.
I have gone through the redacted motion to unseal Treasury/FHFA documents and have cited numerous key points below. It is clear that a wealth of evidence has been uncovered that exposes many lies our government submitted as facts in the “Perry Injunction”. This is only one of four motions and they all include bombshells.
Key Points from FHFA/Treasury Motion
Ugoletti Email Blows Lid Off P.I.K. Lies
Please read page 12 and 13 to see where Mario Ugolettis email reveals that the Government lied about their knowledge of the PIK. :
I am inserting some screenshots here because I was unable to copy and paste pages 12-16
This is big folks as you will recall I have been reporting this since March and here we have the proof. I believe Mario has since somewhat redeemed himself in his more recent sworn deposition. His sworn deposition has been sent under seal the the “Perry Injunction Appeal”.
Contrary to what our government claimed, the deferred tax assets were obviously considered prior to the third amendment.
Once again our old pal Ugoletti strikes again. You better believe this email clearly shows that Treasury was indeed calling the shots at the FHFA. This is a critical point in both the Fairholme Trail and the Perry Imjunction. Our government made the outrageous claim that FHFA was completely independent from Treasury. We are now seeing proof to my claim that the third amendment sweep was the government making a deal with the government to sweep all profits to….the government. This outrageously illegal arrangement is being exposed for what it truly is at last.
Death Spiral Meets Death Spiral
And now onto one of the more pathetic parts of our governments defense. Here Fairholme presents redacted evidence that sends the bizarre death spiral defense into a death spiral of it’s own. I have often said they who ever dreamed this completely unbelievable alibi should never have been advising President Obama in any way. This whole theory reeks of a two bit con job.
The True Reason For Secrecy?
“For example, the relevant unredacted information in Exhibit 13—an August 14, 2012email from FHFA’s Mario Ugoletti4—consists of a single sentence: (REDACTED) A038. This information has nothing to do with present market conditions; it is simply historical information about the conservatorship around the time of the Net Worth Sweep.5 Similarly, Exhibit 9, a July 8, 2012 email from Anne Eberhardt of Grant Thornton, states,(REDACTED)
A025.This and all other unredacted information share the characteristic of being relevant to past events rather than to present economic circumstances, but, as importantly, the information undercuts key claims made by the Government in this and related litigation. See infra pages 12–15. That is, perhaps, the true reason why the Government seeks to keep this information from the public, and this Court should reject those efforts.
How Can America Debate Housing Finance Without Critical Facts?
Here Fairholme makes the excellent case that these documents need to be made public in order for America to have an honest debate:
“Few issues have so occupied the public mind as the Government’s housing policy in the wake of the 2008 financial crisis. The Government’s actions at issue in this case have been the subject of congressional hearings,7 think tank discussions, policy papers, and media coverage.Indeed, one of the first think-tank events in the aftermath of the 2014 midterm election focused on the Government’s policy toward the GSEs. All public deliberation, however, has occurred in the absence of critical information that the Government— without any basis in the Protective Order—has kept secret. Given this shroud of secrecy, it is no
surprise that members of Congress have raised concerns about the extent of the information the Government has withheld from the public in this case.12 The impoverishment of the debate over
these crucial questions of public policy “cannot be ignored,” Anderson, 805 F.2d at 7, and this Court should give the public access to the unredacted information.’
The remaining Four Motions are below and I will be posting on those in detail in the near future.Like the Treasury/FHFA motion they contain some excellent bombshells as well. I am particularly excited about the PWC and Deloitte motions. As you all know our attention has been largely on the fraudulent accounting and it is no coincidence that so much attention has been drawn to these firms.Deloitte and PWC were keenly aware of the financial situation regarding the GSEs leading up to the third amendment sweep.Discovery has used their communications and documents to prove the true purpose of the sweep. The GSEs were forced to borrow billions from Treasury to insulate against massive perceived future losses,once the losses didn’t come to bare and the massive reserves that were borrowed were about to be reversed the Treasury and FHFA conspired to send all of these funds directly to Treasury.This my friends is fraud plain and simple.
Attorney Schwind Jumps Ship
I know some of you are aware that the governments lead counsel Attorney Schwind resigned from the Justice Department a few days ago. Ironically he left the day after the Ugoletti deposition was sent over to the “Perry Injunction Appeal”. We now know that he also left just as these explosive redacted motions were getting prepared to be released. I do not believe his departure was a coincidence.You will remember that I featured Attorney Schwind back in my March second post: (Ironically this post announced the beginning of #Fanniegate as well)
That was when Judge Sweeney made the observation that Attorney Schwind was “Making it up as he goes along”. I observed than that in that exchange Attorney Schwind was becoming very frustrated with the predicament he found himself in. I doubt he sacrificed a lucrative private law career to work for the government because he dreamed of lying in court for a living, to defend schemes like this. No if he was the type of attorney who wanted to defend obvious con artists he would have taken a job at a private firm and earned far more than what the Justice Department pays.I honestly believe that once it became obvious that the only defense our government has is built entirely on lies he began to have second thoughts. Once it was obvious that their lies would be laid bare to the public he decided to exit before his name was forever linked to this scheme. I know many in our government have completely lost their moral compass but some have not. If I am correct I want to applaud Attorney Schwinds decision and wish him well on his future endeavors.
President Obama Please End This National Disgrace
Many times I have observed that before discovery concluded our governments defense would be destroyed. I knew that there was no way that a scheme this large could be planned out and executed without mountains of evidence lying around. It is both shocking and shameful that our government ever would have attempted this. The blind arrogance our government has displayed in nothing short of chilling.
I hope that President Obama quickly brings this dark chapter to a close and ends this as quickly as possible.
I can’t wait to see how much longer the majority of the U.S. media can ignore this. The government apologists now must stand in shame as their complicity in this scheme is revealed. I encourage anyone who does want to cover this to please reach out to me, we have many dedicated followers who will gladly devote time to bringing you up to speed.
The Truth Stands Tall
Let us celebrate the fact that the light of Truth has not let us down. In the darkest hours when our opponents tried so hard to discourage us and divert us from our goal we refused to surrender, we refused to lose faith in the truth. The war is not over but our opponent lay mortally wounded. Let us fight on for it is only our opponents who can end this war, we have no choice but to continue our assault.Let’s hope that for the sake of our Great Nation, Our President ends this national disgrace. Until than I will remain firmly in the driver seat.
Keep the Faith!