Brayin Candy

Fannie and the Outhouse


The real Snow job of 2010 is the lie we’ve backed away from the abyss. This is like saying Global Warming caused the blizzard. Until we have a serious look at the financial earthquake that’s hit our financials we have no idea if we’ve backed away or were falling into the Abyss. We’ll never begin to rebuild our economy til we find out how much damage has been done. Right now we’re attempting to build a skyscraper on a bamboo hut, it won’t work. The first place we have to look is at our Fannie. We just dumped another $400 Billion into it this yr w/another $400 Billion likely to be loaned in 6 mos for which every Corrupt Politician, redundancy alert; who voted for, needs to be sent packing.

Fannie/Freddie represents the most corrupt organizations in our gummit. Now that’s like saying they are the smelliest outhouse on the planet. Once you pass a certain threshold they begin to all stink alike, although I still remember one outside of Salt Lake on a hot August day that does stand out and smelled just like Fannie Mae. The difference is the flies are ignoring Fannie like it doesn’t smell when it should be under the microscope for the entire world to see. Just like that outhouse, it won’t be pleasant yet you have to know what you’re facing before you can clean it out. There is just too much corruption in one spot and will expose so many powerful crooks in so many places, but someone needs to put this Country in front of them. Rather they want you to focus on evil bankers, not gummit corruption.

This week China threatened they’ll no longer buy Fannie/Freddie bonds w/o a complete US liquidity. This means there will be no money for them to lend for mortgages unless the gummit backs those bonds just like treasury notes. What the Chinese are saying is if the taxpayers don’t back Fannie’s $1.3 Trillion then they're taking their yen elsewhere. This will stop the banks from being able to loan for homes forcing this economy deeper into the abyss. Just like the Fannie/Freddie collapse dragged Wall St into the first recession, unless someone stops playing politics and starts solving this disaster, America is going to make that outhouse smell like a bucket of roses. Course we have a Jobs Bill freshener so ignore Fannie.

While the WH is making fun of Gov Palin jotting some notes on her hand talking about real issues and concerns about getting out of this recession, the Chinese are threatening to let go of the rope. We have no idea how much of F/F paper is worthless or if all of its worthless. We have no clue if their $1.3 Trillion is worth a % or zero and neither does Wall St or the Chinese. Until we find if the hole is full or nearly empty nobody can make plans for the future, let alone write loans. Somebody needs to Man Up and value those loans for the entire world to see.

How did we get to this precipice? Pure unadulterated corruption is how. In 1968 what was a branch of the Fed was turned into a publicly traded bank w/the backing of the gummit. This allowed them to do what no other banks could do as well as extend credit w/easier terms and backing. This was an open door for corruption as they could take risks w/our $$. Then came the Clinton low income housing bill to force banks to make loans people who couldn’t pay knowing that Fannie would be buying the worthless paper as if it was fully valued. This was like having a gold mine that had unlimited amounts of gold, problem was it was Fools Gold being sold as 99% pure. Nobody cared, so they mined it as fast as they could stuff the banks like they were Fort Knox.

This wasn’t the worst of it; everybody who worked for Fannie was paid purely on how much “gold” they could buy. They were scooping it up like Dumbo in a peanut factory. The CEOs like Harold Raines were being paid 100s of millions in bonuses even though he was making one of the biggest Ponzi on Wall St, w/help from the District of Corruption. While obozo has been lecturing greedy bankers on receiving excessive pay, these top execs who’s company may lose $500 Billion this year are getting paid over a $million each. For that type of scratch they need to come clean to tell America exactly what the damages are and how bad this storm is going to be. Until they do that or are at least demanded to do that they shouldn’t receive a penny. We need to know how much shoveling it’s going to take.

Why is everyone afraid to tell the truth? Cause Fannie/Freddie is the first dominos in a potential financial Abyss. We need to find how bad it is to decide whether to do as the Chinese want and that is to dump the full $1.3 Trillion or let it go into bankruptcy. That will likely collapse a number of banks so where it stops nobody knows. It may be catastrophic or just mildly catastrophic, but until then we'll never begin to dig ourselves out. After it does what it needs to do to start over, Fannie will either rebuild itself or another bank will take its place to fill the vacuum. This is why nobody wants to push this domino over since nobody wants to find how bad the damages will be, yet it has to be done and we need leaders who are willing to lead w/the courage to do it. This is no time for the weak at heart or playing politics w/not only the American people but the entire world. These are tough times for tough people and right now the only people that are being tough are the Chinese. They have embraced the Free Market and are receiving the benefits of that powerful engine. America is doing just the opposite and paying the price of corruption in bloated gummit.

We need powerful leaders in trying times which is what we’re lacking. We need leaders who will roll up their sleeves and begin to shovel the corruption out of the outhouse. They will get their hands dirty so we need guys who are not afraid of some muck on their hands and clothes as they clean out all the years of filth that has filled this hole. When it’s done they will not be the most popular men in the city, but they can go home knowing they may have saved this Country from the worst catastrophe in its histoir. Time to Man Up and start shoveling cause this outhouse is full and its 104 outside.

Pray for America’s Freedom