A recent interview with Mnuchin revealed that the Obama administration allocated Fannie Mae and Freddie Mac to pay for healthcare and other projects. Keep in mind that both mortgage giants were placed in conservatorships in 2008 because they were deemed not fit financially. Since placed into conservatorships, both have had favorable bottomlines and have repaid their bailout disbursements in full. The total amount invested in Fannie Mae, and Freddie Mac $187B. I thought the government was non profit! The Treasury has been earning a return on its investments, which has resulted in a profit. So far the companies have paid $266B in dividends to the Treasury. Adding compensations from lawsuits to the dividend payouts, the returns the goberment received or is receiving are hugely sugnificant. Guess what? Per contract between the goberment and he mortgage giants, the quarterly dividends are to continue indefinitely. All profits go to the treasury without any questions.
I thought the idea behind conservatorship was to conserve? 😕😩
In a recent interview with treasury secretary Mnuchin on Fannie And Freddie, the treasury secretary hinted/suggested that Freddie Mac and Fannie Mae funds were sed to ay for ObamaCare? 😲😩
In the same article written by fox news reporter, Treasury Secretary Steven Mnuchin discussed the future of Fannie Mae and Freddie Mac under the Trump administration, telling the FOX Business Network’s Maria Bartiromo, “I haven’t said they would be privatized, what I’ve said is ‘I’m committed to housing refand that we’re committed not to leave them as is for the next four years.’
Though Mnuchin called for reforms of Fannie Mae and Freddie Mac, he reassured Bartiromo that the administration did not want it to have a negative financial impact on US taxpayers.“We want to make sure there’s ample credit for housing. It’s a very, very important part of the economy. But we also want to make sure that we don’t put the taxpayers at risk.”