The Whitehouse continues to stall on reforming the money train known as Fannie Mae and Freddie Mac, even though they are breaking their own so-called Financial Reform, ( also known as the Dodd-Frank Bill) laws to do it. This article is a part of the continuing exposure of the fraud, corruption and waste of taxpayer dollars by the F&F (Fannie and Freddie) club here at CDN.*
While decades of fraud, corruption and shifty accounting practices have been exposed within the F&F club, our elected officials seem content to let it continue, from The Whitehouse, to Congress,and right on down to the U.S. Treasury Department. Today we see another direct, in your face refusal to address this problem by none other than Obama’s own administration. I stumbled upon this latest act of criminal behavior yesterday over at National Review Online.** I was stunned by the revelations in this article by Rep. Jeb Hansarling (R-TX).
“The Obama administration failed to release a report today on how Freddie Mac and Fannie Mae could be reformed, despite being required to do so by the Dodd-Frank law passed last summer.
Rep. Jeb Hensarling (R., Texas), who chairs the House Republican Conference, said in a statement that the White House’s failure to meet the deadline made it “crystal clear that the President is not serious about reforming Fannie Mae and Freddie Mac.”
As this writer reported earlier here at CDN, the GOP called for reform of the F&F club during the financial reform debate last year. Democrats flat out refused to even allow an amendment that would stop the abuse of taxpayer dollars through Fannie and Freddie. Now we have the Whitehouse, which happens to have approved the Democrats most recent blank check written to the F&F club, also breaking the law that required them to submit the report on how to stop the bleeding here. Amazing.
The Financial Services Committee isn’t too happy about this latest revelation either, as exposed further down in the same National Review Online article:
“Financial Services Committee chairman Spencer Baucus (R., Ala.) also criticized the administration, saying in a statement that “the Democrats always offer an excuse for not meeting deadlines, even those they themselves impose.”
I also mention the U S treasury department in my opening paragraph, and here is what I found at the bottom of the National Review Online article:
” A Treasury Department spokesman told Dow Jones Newswires that the administration hoped to release a report in February.”
Apparently, when it comes to reforming the malfeasance over at Fannie and Freddie, we are left with nothing more than the hope part of Obama’s Hope and Change campaign theme of 2008. There certainly is no change in the fraud, corruption, and outright theft of taxpayers dollars by the corruptocrats in bed with the criminal enterprise over at the F&F club.