Rumor Confirmed Ugoletti Out

Back On July 23rd I shared:

Ugoletti: Betrayed And Disillusioned May Resign
I have also heard that multiple sources believe that Mario Ugoletti may be contemplating resigning. This would not be a surprise considering the position he has been placed in by our government.First they asked him to lie in a sworn affidavit in the “Perry Injunction” and then had the audacity to ask him to give a sworn deposition over a year later when he had no choice but to prove his affidavit perjurious. I am sure that when he provided the false affidavit he never imagined they would allow this to play out this long. No one in their right mind would have put themselves in harms way if they ever thought they would have to give then a sworn deposition after their own damning emails were being turned over in discovery.Mario has retained his own private counsel, and I am sure they are advising him to remove himself from the government and take actions to protect himself. There is no need for him to stay aboard the sinking ship with those that committed this ultimate betrayal upon him.

Yesterday GSE Blogger “FanoFred” confirmed that indeed Mario Ugoletti has left the FHFA.
“Ugoletti, Schwind & Bowler Out: Who’s Next?”
“Mario Ugoletti, 53, retired from the Federal Housing Finance Agency effective September 30. Ugoletti was Interim Ombudsman and special advisor to FHFA Director Watt. He had worked for FHFA for six years and the Treasury Department for an additional 14 years.
His departure represents at least the third high-ranking government official connected to Fanniegate to leave their job in the last four months. Gregg Schwind, 48, Senior Trial Counsel at the Justice Department left his position in July. Timothy Bowler, 41, Deputy Assistant Secretary and special advisor to Treasury Secretary Lew, left his position in June.”

Fan is one who has followed our situation very closely and always impresses me with his keen understanding of our situation.We are both active on Twitter and can be found here and

Ugoletti Montage

Mario Ugoletti has garnered seven headlines here on the blog beginning on March 30th; he has received countless other mentions that can be easily searched. In some ways, he has become the face of the government’s outrageous scheme to seize all of Fannie and Freddie’s profits. I thought tonight was an appropriate time to post a montage of the headlines for those looking to get up to speed on Marios involvement in the scheme. (Redacted Motion: Ugoletti speaks the truth)

Corker Acknowledges The Inevitability Of GSE Release

I want to clarify a little further about the carnival that erupted following Bill Ackman’s mentioning of the Political Alpha note last week on Bloomberg. Bill simply shared that the note may be the reason for the activity in the securities of Fannie and Freddie earlier that day. He claimed he had not even read it nor would he vouch for its validity. Well, that’s all it took and many of our opponents seized onto that news and quickly proceeded to use it to reignite the hedge funds VS Taxpayer narrative. CNBC  and Senator Corker shamelessly twisted the content of the note to claim that the administration was considering re-IPOing the GSEs.At one point, their reporter framed a question to Corker as a choice between re-IPO’ing the GSEs versus reform. First of all, no one besides Corker and Warner made any mention of a re-IPO rumor and second of all the only plan being considered is a release of completely reformed GSEs.At one point Corker became so unhinged he stated that people should be shorting this rumor (The rumor that he and CNBC created).The short call just may be the icing on Corkers utter failure to destroy the GSEs as the securities have gone up and stayed up since he made that call last Thursday morning.
By Bill Ackman unwittingly attaching himself to the note he invited our opponents in the media to pump out a series of false and damaging Hedge funds VS Taxpayers headlines. Murdoch’s NY Post printed one of the most outrageous spreads that I will not share here because I believe it was only in the print edition.

The best part of the Corker MSNBC appearance though was when he stated that with the absence of GSE reform legislation the GSEs would certainly be released. This critical part of the interview came towards the end and apparently was missed as everyone became so obsessed with the short comment. This shift by Corker was very big news as he joins the long list of opponents resigning himself to the seeming inevitable release.

Alpha Clarity
I also want to clarify a little further on the Alpha note. Nothing in the note was new news,everything they shared has been discussed both here and in the media for months. The fact that they attached administrative sources to their note I believe is what made it such a big deal. Again the motives that they subscribed to the administration is what I mainly had issue with, the primary motivator for the Administration to resolve this is the opportunity President Obama has to put his signature on twenty percent of our economy without needing one Republican vote.Remember at the start of his Presidency he was able to enact sweeping health Care reform putting his signature on that twenty percent of our economy. There is not a sane President in history who would not seize upon this opportunity.I have shared at length concerning this, and I encourage anyone knew to study the last several posts to get up to speed.

Your Only Source
I would also suggest at this point that our readers largely ignore anything the general media has to say on our cause and look here for any critical news or developments. Any articles that are truthful and relevant will find its way quickly into the comments section following each post. These articles tend to generate a lot of comments and commentary. Essentially if something is not in one of my main posts or in our comments, it is likely either not relevant or highly untruthful.It would have been great if we could have got a well-known investigative journalist to cover our saga but to date all have chickened out essentially. To be fair many are employed by major media companies and their editors were not prepared to sacrifice valuable access for the truth.

Our First News Conference

I am planning to host our first news conference one day this week where I along with a few other experts will answer whatever questions you may have regarding our situation. I will announce the exact date and time in the comments section and on Twitter soon. I will select some of the questions and answers to share in a post following the event. Keep the Faith!