[See AD. Related Parties on Page 110, Direct Quote from Department of the Treasury, Annual Financial Report, Fiscal Year 2009]
It clearly stated as follows: “Finally, the Secretary of the Treasury serves on the Federal Housing Finance Administration (FHFA) Oversight Board, and consults with the Director of FHFA in matters involving Fannie Mae and Freddie Mac. This provides the Treasury Department a voice in the FHFA’s actions as the conservator for Fannie Mae and Freddie Mac, and thus some influence over major decisions involving Fannie Mae and Freddie Mac.”
In Stegman’s remark, he didn’t address the purpose of appointing the Conservator is to preserve and conserve the Company’s assets and property and to put the Company in a sound and solvent condition according to the HERA Statute nor did he mention about how the PSPA placed the GSEs in jeopardy by requiring them to liquidate their profitable investment portfolio and sweeping all profits to Treasury. Both actions clearly contradicts the original “Purpose of invoking the Conservatorship” under the authority of HERA Statute.
I speculate that ripeness occurred when Conservator took over all rights, titles, powers, and privileges of the regulated entity, and of any stockholder, officer, or director of such regulated entity with respect to the regulated entity and the assets of the regulated entity; and title to the books, records, and assets of any other legal custodian of such regulated entity while violating the purpose of the Conservatorship by signing and agreeing to the covenants of the “Purchase Senior Preferred Agreement” or (PSPA) as soon as FHFA placed the GSEs into Conservatorship.
As a reminder, Treasury, FHFA and Federal Reserve met and crafted the PSPA weeks preceding the placement of the GSEs into Conservatorship which clearly means that FHFA was no doubt acting as the government at the time. FHFA was named as Conservator but clearly acted as the government when it signed the PSPA without a formal legal review to ensure that the PSPA met the condition set forth in the HERA Statute. Therefore, conflict of interest existed from the start of the Conservatorship in September 2008.
No one wants to talk about this yet since the focus is on the 3rd Amendment. Once plaintiff attorneys prove the unlawful creation and implementation of the 3rd Amendment, I believe the original PSPA might come into focus in terms of who, why, how and when it was created as well as the purpose of the terms, conditions and covenants. At the end, the big question might be “Did the parties have the legal authority to include all of those terms, conditions, and covenants in the PSPA which is in conflict with HERA Statute?”.
Do not let our government fool you. It is a fact; even though, hedge funds are paying the legal bills on behalf of “We the People” or more commonly referred as “Taxpayers”; make no mistake, it’s about the Obama Administration as well as government agencies’ corruption and conspiracy, hidden evidence under all types of privilege and circumvention of the law while publishing and communicating propaganda focusing on claims of protecting taxpayers but actually they are expropriating GSEs profits to supporting the Federal Budget clearly stated by Jack Lew, Treasury Secretary upon grilling by Congressman Michael Capuano, Democrat from Massachusetts.
All of this truth will come to pass as plaintiff attorneys move forward and remove obstacles with Discovery and Depositions this month or next month. Equally important, we shall be hearing from Treasury Secretary and US Attorney General answering questions presented to them in a letter from Charles Grassley, Chairman, Committee on the Judiciary no later than April 20, 2015.
In my honest opinion, the only way to receive justice for “We the People” is through Federal Claims Court (the Peoples Court) under Judge Sweeney with the help of Senators and Congressmen like Grassley, Capuano, and Malvaney who are also asking the right tough questions while seeking the truth from the Obama’s Administration, Treasury, FHFA and DOJ. I hope they look into the Federal Reserve and the SEC as well. At this point, its only a matter of time and I hope it comes sooner rather than later.
Hyperlinks to facts are included. Below White Paper by William Isaac and Senator Bob Kerrey is a must read.