The Truth’s Profound Impact
To understand where we are going it is important to look at where we have been, I have been doing a lot of deep reflection on the role I have played up until now. This role was not one I chose but as you will one day see it is one that chose me. I am keenly aware of the enormous responsibilities that rest on our shoulders and the consequences that are at stake.
With the varied and powerful forces aligned against us and a media largely unwilling to objectively search for the truth, I innocently embarked on learning the truth on my own.My steadfast grasp to the truth and my willingness to shout what so many others feared to say began to attract a following. In the process of attracting many of the key players in this battle to me my message was noticed and played a profound role in awakening some of the GSEs former defenders,many of whom believed that the GSEs were already dead and buried. The Obama administration was the source that many of these folks trusted to provide them with the facts on this subject.Because the admin was so infiltrated with wolves in sheeps clothing prior to my campaign all they had available were the lies and mistruths being spread by Treasury and others like Jim Parrott and Mark Zandi.Our first step was to light a spark of hope and show that all was not lost yet and that much of what was spoken as gospel was untrue. I have continued to stream the truth to them, and they now know exactly what is going on and the great importance of saving Fannie and Freddie.Much of what we have done has made its way to Obamas ears.On this front, we have largely completed all of our main objectives and our impact has been profound.There are some who played a big role in bringing this about that will never get the credit they deserve, by their choice. I will forever guard the identity of anyone who has wished to remain anonymous.My word is far more valuable than proving to others the effect I have had in this great battle.
The Betrayal Of Our President and The Most Vulnerable Americans
I am often asked if I really believe President Obama has been misled on the GSE issue.There is no doubt that he was grossly misled,
Clearly many of those who have chosen to mislead him are beholden to the big banks/PMI companies quest to get their hands on the lucrative secondary mortgage market that the GSEs now control.Once reliable liberal think tanks have betrayed him and the millions of low-moderate income Americans, they are supposed to advocate for. The Urban Institute and Center For American Progress have ignored the truth and done everything they can to help bring about Fannie and Freddies demise.One needs to look no further than a paper put forth by Jim Parrott and Mark Zandi concerning what a release of the GSEs would mean to see the extent of the betrayal.The paper was done on behalf of the Urban Institute where Jim is a senior fellow. Jim and Mark base a large part of their argument on the fact that the GSEs would be required to hold ten percent capital if they were released.They base this on the assumption that they would fall under the SIFI designation. To the casual observer, it makes sense but in reality it is something I would expect from AEI or Peter Wallison not advisers to a Democratic President.For decades, FM watch and a whole host of others GSE haters have tried to use excessive capital requirements as a way to dilute and destroy the GSEs. I say excess because Fannie and Freddie were mandated to hold about .67 percent capital before the crisis.They actually held more like 1 percent or 44 billion dollars.As we have seen through the forensic accounting, the 1 percent would have sustained them if not for assassination attempt better known as the ” bailout”. If their capital were doubled to 2 percent, they would be able to breeze through a severe crisis.Five percent coupled with the multiple risk sharing initiatives that have been instituted would create an impregnable wall between the GSEs and taxpayers. Forcing the GSEs to hold ten percent would cripple them severely, the trust funds would be defunded and many of the other affordable housing initiatives that the GSEs perform would be killed. Now it is no surprise why our outspoken enemies would push for this but why would two of Obamas trusted advisers do so? Why would two men who clearly have a deep understanding of the inner workings of Fannie and Freddie propose to cripple the GSEs?Why would the Urban Institute co-sign this fraud knowing how damaging it would be to urban areas? The problem began when our government seized the GSEs and tossed a 5 trillion dollar market up for grabs. You better believe with that kind of money at stake it has brought out the worst in most. Mark Zandi sits on the board of MGIC a large PMI company that was in at the founding of FM watch. Jim Parrott has his own private consulting firm that provides consulting to financial institutions. An email leaked that showed Jim consulting with Bank of America on housing reform issues.
https://www.economy.com/getlocal?q=1b7e1c1b-8654-4a8c-a7ea-e86ae760a7c1&app=eccafile Privatizing Fannie and Freddie: Be Careful What You Ask For by Jim Parrott and Mark Zandi
Wolves Shift, Wolves In Sheeps Clothing Do Not?
One of the most incredible things that continues to occur is some of our most fierce and outspoken opponents have been shifting to a much more rational position. I am not at liberty to share very much, but I believe Rep. Mulvaney has backed down from the crippling ten percent capital stance in an honest effort to find common ground on the GSE reform issue. Isn’t it ironic that a tea party Republican whose ideological hatred for Fannie and Freddie has guided his every move until now has backed away from the ten percent capital yet Parrott and Zandi have not? Those who were entrusted to look out for Democratic constituencies on behalf of a Democratic President are still clinging to the lies. This is becoming a betrayal of epic dimensions.I believe one of the reasons that those who opposed us on ideological grounds are shifting first is because they were not being paid to try and get the GSE market into private hands like Parrott and Zandi. I am sure Jim and Mark are in a state of shock, and they are frantically assuring their puppet masters that there is still hope. I hope the rumor is true that Julia Gordon will be out of CAP soon. She is another one who is more than happy to betray the very Americans she is supposed to be looking out for.
Screaming In The Wind
Someone recently shared former Fannie CFO Tim Howards assessment of the impact I have had on the GSE battle: “People were screaming into the wind without any idea how to identify an objective and mount a campaign to get it done. Now, it’s starting to happen.” I was thrilled to hear this as many of you know the pseudonym I chose for my blog was a hybrid of his name and the Howard T. Markey Courts 717 Madison Place, NW Washington, DC.I must say that after having to clarify that I was not CFO Tim Howard for the 100th time I almost switched to my second choice thoward717 to lean heavier towards the court address, I am glad I didn’t.I want to thank Tim for providing such insightful guidance throughout this war; he is one of a few truly knowledgeable and admirable players in this entire saga.
Tim explains it very well when he says prior to my arrival that those who were trying to save the GSEs were screaming into the wind. To some extent that element is still with us today and I believe that although they mean well they just lack the skills necessary to navigate such a complex issue. I know of a former GSE lobbyist who very recently claimed that “I don’t believe the civil rights/church groups have any clout on these matters, at least with the Obama apparatchiks”.Knowing what I have witnessed, this comment could not be any further from the truth. Anyone following failed advice like that has essentially wasted precious resources on failed ideas and initiatives.
Amusing But Chillingly Accurate
I want to share something that “Ron Swanson” has put together. It is both amusing and chillingly accurate at the same time. I hope it makes those puppets in the media realize that their actions could have consequences they never imagined. This points out the absurdity of what is going on and makes it clear that it must be corrected. https://medium.com/@ckc12_rb/president-warren-s-admin-announces-net-worth-sweep-of-jpmorgan-relies-on-lamberth-as-precedent-51e083aab8a2
I know I have asked all of you to keep the faith and that you have, but your faith must be in the truth and not me. I am simply a messenger and believe me on my own, without the truth, I could never have accomplished a tenth of what’s been done here.Though the war is not over yet, let’s celebrate the victory we have achieved in getting the truth to where it matters most.I know everyone has a different definition of exactly what victory here looks like, that is apparent from the varied comments on this subject.Let’s try not to become defocused by imagining how this might or might not end, let’s keep unleashing the truth and have faith that the truth will be victorious in the end.It always is. Keep The Faith
Edit 9/11/15 Forensic Accounting and NY Post Bombshell.
We are largely trying to keep things on track; most of the heavy lifting has been done on my end. The special report by Professor Crumbley validating Adam and Mikes forensic accounting is a big deal.
Michelle from the New York Post bravely has exposed the scheme, and she should be commended:http://nypost.com/2015/09/10/obama-official-hid-fannie-and-freddies-profit-mojo-suit/
I am very aware of the Bill that Rep. Mulvaney has been working on with a key Democratic Rep. It has not been introduced yet, and the details are still being worked out. I am encouraged by what I have heard. I do not want to share anything that could derail this or hurt us in any way.
Please let us try and welcome those that have been shifting their views. Just because one may not agree entirely with us the fact that they have shifted to be open to a reformed released GSE scenario is a huge deal. Anyone willing to consider this is a friend of ours.
I will be posting on these developments in more detail soon. KTF