Something big happened Friday night that will produce many red pills in the near future. The Court of Federal Claims is forcing the government into a trial regarding how it treated the entities that more or less insure the housing mortgages made by banks in the US. The entities that many tried to blame the 2008 financial crisis on, when in reality it was the "too big to fail banks" that caused the crisis and were subsequently bailed out.
That has significant implications because it will force Treasury to publicly defend against thousands of sealed documents from the Bush and Obama years that the government has fought hard to keep hidden. Roughly 11 thousand documents to be exact.
They will prove that the federal government knew these entities were not about to fail, but used fraudulent accounting to force the entities into conservatorship to strip them of all profits….hundreds of billions of dollars.
Obamacare was never funded by the House of Representatives. Ever thought about where that money came from to fund it?
When you get down to it, millions of Americans retired or with money in retirement funds owned shares of these companies because they were such secure investments that generated income. The Bush and Obama administrations robbed those people of their retirements. Bush did it to force bad debt from the "too big too fail banks" into the entities once his administration took them over. Because they survived Bush's BS, Obama diverted the money into Obama care.
Now the truth is about to come out. Even more significant is that these entities are the backbone of the 30 yr mortgage. The 30 year mortgage is the backbone of the American dream of owning a home. Had they been able to kill off these entities, much of America would have been renters instead of owners within 2 generations.
Also think about where the poor has most of their savings stored…house equity.
Old Sauce:
"Why Is the Obama Administration Trying to Keep 11,000 Documents Sealed? The “most transparent administration in history” has spent years trying to hide embarrassing financial secrets from the public"
www.rollingstone.com/politics/politics-news/why-is-the-obama-administration-trying-to-keep-11000-documents-sealed-67555/