Freddie and Fannie and Franklin and Chris

It is nice to see you concerned about money received from Freddie and Fannie, like the $1.6 m received by Gingrich. I look forward to your columns on the $20 million received in 2003 by Franklin Raines, CEO of Fannie, based on his false representations that Fannie and Freddie “only” had $10B in sub prime mortgages when they really had $300B (see recent SEC pleadings). Mr. Raines’s previous employment included positions in the administrations of Presidents Carter and Clinton. Please include the preferential mortgages received by Senator Christopher Dodd (D-Conn) before he omitted Freddie and Fannie from being covered by the Dodd-Frank law, passed by the super majority of his party, to control the mortgage industry. It is estimated that the omission of Fannie and Freddie meant omitting the holders of 90% of the mortgages. Wow, a 2,400 pages law to control 10% of the mortgages. Both Senator Dodd and Representative Frank (D-Mass) have announced they will not run for re-election.

Incidentally, to blame Gingrich for Clinton’s impeachment requires you also assert that he also controlled the Supreme Court of Arkansas when they suspended his license to practice law for the same reason as he was impeached: perjury, which is a false swearing under oath. All he received for the Monica situation was increased book sales.


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