I complain a lot about government. That’s because government has a monopoly on force. The federal government of the U.S. also has a monopoly on printing money. If you control the guns and the butter, then you should be watched closely and criticized often and loudly, particularly if you are dishonest.
Fannie Mae and Freddie Mac are dishonest entities. They have added $5.4 trillion in debt to the national bill.
Judicial Watch filed a Freedom of Information Act suit last August after FHFA refused the watchdog group’s request for such documents. Officials at FHFA acknowledged having control of such documents but said they weren’t obligated under the FOIA to release them. Fannie and Freddie were established as semi-independent government-supported entities. But they went under FHFA control after taxpayers had to bail them out. It is estimated that taxpayers are on the hook for at least $5.4 trillion in liabilities that resulted from bad mortgage investments by Fannie and Freddie. Read more at the Washington Examiner: http://www.washingtonexaminer.com/opinion/Time-for-sunshine_-Fannie-and-Freddie-87252627.html#ixzz0hsxqQeVN
The members of Congress who have received campaign contributions from these quasi-government, government controlled entities should be subject to criminal trials for accepting bribes. These are the same entities that helped create the current landscape of massive foreclosures and bankruptcies by facilitating irresponsible loans to unqualified, irresponsible borrowers.
Open information models should be legally required for all government and quasi-government entities by Constitutional amendment. First, though, and more important, we need to restore federal respect for the limitations placed on government by the Constitution. At this point, I’m not sure how that will happen without a complete do-over of some kind.