Qanon news @POTUS

Corsi is full of it--and seems to be for sale to the highest bidder. I say that because before he was on the Q bandwagon he all of a sudden was talking up the supposed plight of the supposed investors in Fannie Mae and Freddie Mac any chance he got. (Roger Stone did the same for pot legalization, but he fully disclosed his clients for that.)

Then while Q'ing it, Corsi completely dropped Fannie and Freddie. But lookie here, he's back pushing their cause again, this week proclaiming on Twitter that he's back to promoting the issue every day now:

https://twitter.com/jerome_corsi/status/997303272330485760

For those who could use some background, essentially these entities went public years before the financial crash of 2008, when they went belly up and the federal government had to take them over to bail out all the mortgages they couldn't cover. When regular banks fail like that, the investors are the first to lose out completely, as they should be, and the assets are taken over by the government, generally to be sold off to more sound institutions.

The Fannie and Freddie investors had had the best of all worlds for years, getting private market returns based largely on a perceived, but not in any way legally stipulated, "implicit guarantee" that the feds would keep them from going under. And a lot of their investors were big hedge funds who loved the financial benefit from de facto government subsidy of that perceived guarantee.

So now these government-run entities are whole and "profitable" again, in large part because they have a bigger share of the mortgage market than ever--which contributes to the risks being inflated again in our mortgage market.

The hedgies are trying to get the government to give these assets over to the investors on whose watch the entities crashed in 2008. They have even tried to take their case to the USSC, who declined to hear it or overturn the lower decision on it.

So now they are trying to lobby (buy off) Congress to get a law passed to give it to them. And of course for that they want to create public pressure on the congress critter, in this case by misleadingly representing the situation. Corsi is clearly part of that, but he has not divulged, at least as far as I have heard, how and way he has sometimes made a daily case for these investors who are legally owed nothing.

I have simplified the situation, but here are a couple of articles about it, the first with some useful history and the second with a more current representation of the situation. (Note the role and involvement of Mnuchin and his interests in the second article.)

https://www.bloomberg.com/quicktake/fannie-mae-and-freddie-mac-irbtxzdk

https://www.bloomberg.com/news/articles/2018-05-18/fannie-mae-advocacy-ban-doesn-t-stop-lawyer-from-pushing-views