Friday, January 18, 2019

VIDEO - SUCKING IN THE BRIBES - THE STAGGERING CRIME WAVE OF THE CLINTON PAY-TO-PLAY GLOBAL BRIBE NETWORK

SHOCKING VIDEO OF THE CLINTON'S LONG HISTORY OF SELLING OUT AMERICA FOR BRIBES


The Clinton Foundation has raised more than $2 billion since its inception in 1997, and Bill and Hillary Clinton have been paid more than $150 million for delivering speeches. Notably, these payments increased dramatically after Hillary Clinton took office as secretary of state in 2009.



THE VIOLATIONS STARTED ON THE FIRST DAY!

THE PHONY CLINTON FOUNDATION CHARITY slush fund


“There is no controlling Bill Clinton. He does whatever he wants and runs up incredible expenses with foundation funds,” states a separate interview memo attached to the submission.

“Bill Clinton mixes and matches his personal business with that of the foundation. Many people within the foundation have tried to caution him about this but he does not listen, and there really is no talking to him,” the memo added.

HILLARY CLINTON: Serving the super-rich and filling her bottomless pockets as she does!


"And this being Hillary, with her stated presidential ambitions still remaining, it's also a distinct possibility that donations to the Clinton Foundation are still being sought, especially since they have dropped to nearly nothing now that Clinton has no influence to sell.  With Hillary, it's always about money.  Her stint as secretary of state was completely about pay to play, after all." MONICA SHOWALTER – AMERICAN THINKER


Is it a signal that she's back in the game because she's selling her president-ability to the world's global billionaire crowd and laying the groundwork for more funds?  There are all kinds of ways for foreign billionaires to get money to the U.S. without consequences, after all.  What's more, it's pretty much the biggest base of support she has, which is at least one reason why she lost the 2016 election.



THE GRIFTERS:

HILLARY CLINTON AND HER SERIAL RAPIST HUSBAND



“The couple parlayed lives supposedly spent in “public service”
into admission into the upper stratosphere of American wealth, with incomes in the top 0.1 percent bracket. The source of this vast wealth was a political
machine that might well be dubbed “Clinton, Inc.” This consists essentially of
a seedy money-laundering operation to ensure big business support for the
Clintons’ political ambitions as well as their personal fortunes.

The basic components of the operation are lavishly paid speeches to Wall Street and Fortune 500 audiences, corporate campaign contributions, and donations to the ostensibly philanthropic Clinton Foundation.”

"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now."  ----  Patricia McCarthy - AMERICANTHINKER.com


Why Hillary and Her Wall Street Donors Don’t Want Trump’s Wall…

NO BILLIONAIRE WANTS TO PAY LIVING WAGES TO ANY LEGALS!


"Hillary and her party supporters desperately need illegal immigrants: Hillary is bought and paid for."  Michael Bargo, Jr.
*
"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now."  ----  Patricia McCarthy - AMERICANTHINKER.com


THE GRIFTERS: HILLARY, BILLARY and CHELSEA… global looters!


"But there is no doubt in my mind that the Clintons, thoroughly practiced

grifters that they are, as well as their increasingly shady daughter, will not

hesitate to use such classified information as they may be able to access for 

personal and political enrichment.  They've been doing it for decades, and

they're not about to stop now." RUSS VAUGHN


CLINTON MAFIA AND THEIR BANKSTERS AT GOLDMAN SACHS
WHO IS TIGHTER WITH THE PLUNDERING BANKSTERS? CLINTON, OBAMA or TRUMP?


The Clinton White House famously abolished the Glass–Steagall legislation, which separated commercial and investment banking. The move was a boon for Wall Street firms and led to major bank mergers that some analysts say helped contribute to the 2008 financial crisis.

Bill and Hillary Clinton raked in massive speaking fees from Goldman Sachs, with CNN documenting a total of at least $7.7 million in paid speeches to big financial firms, including Goldman Sachs and UBS. Hillary Clinton made $675,000 from speeches to Goldman Sachs specifically, and her husband secured more than $1,550,000 from Goldman speeches. In 2005 alone, Bill Clinton collected over $500,000 from three Goldman Sachs events.

Hillary Clinton is simply the epitome of the rabid self – a whirlpool of selfishness, greed, and malignance.


It may well be true that Donald Trump has made his greatest contribution to the nation before even taking office:  the political destruction of Hillary Clinton and her infinitely corrupt machine. J.R. Dunn


"Hillary will do anything to distract you from her reckless record and the damage to the Democratic Party and the America she and The Obama's have created."




THE VIOLATIONS STARTED ON THE FIRST DAY!

THE PHONY CLINTON FOUNDATION CHARITY slush fund


“There is no controlling Bill Clinton. He does whatever he wants and runs up incredible expenses with foundation funds,” states a separate interview memo attached to the submission.

“Bill Clinton mixes and matches his personal business with that of the foundation. Many people within the foundation have tried to caution him about this but he does not listen, and there really is no talking to him,” the memo added.

HILLARY CLINTON: Serving the super-rich and filling her bottomless pockets as she does!


"And this being Hillary, with her stated presidential ambitions still remaining, it's also a distinct possibility that donations to the Clinton Foundation are still being sought, especially since they have dropped to nearly nothing now that Clinton has no influence to sell.  With Hillary, it's always about money.  Her stint as secretary of state was completely about pay to play, after all." MONICA SHOWALTER – AMERICAN THINKER


Is it a signal that she's back in the game because she's selling her president-ability to the world's global billionaire crowd and laying the groundwork for more funds?  There are all kinds of ways for foreign billionaires to get money to the U.S. without consequences, after all.  What's more, it's pretty much the biggest base of support she has, which is at least one reason why she lost the 2016 election.



THE GRIFTERS:

HILLARY CLINTON AND HER SERIAL RAPIST HUSBAND



“The couple parlayed lives supposedly spent in “public service”
into admission into the upper stratosphere of American wealth, with incomes in the top 0.1 percent bracket. The source of this vast wealth was a political
machine that might well be dubbed “Clinton, Inc.” This consists essentially of
a seedy money-laundering operation to ensure big business support for the
Clintons’ political ambitions as well as their personal fortunes.

The basic components of the operation are lavishly paid speeches to Wall Street and Fortune 500 audiences, corporate campaign contributions, and donations to the ostensibly philanthropic Clinton Foundation.”

"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now."  ----  Patricia McCarthy - AMERICANTHINKER.com


Why Hillary and Her Wall Street Donors Don’t Want Trump’s Wall…

NO BILLIONAIRE WANTS TO PAY LIVING WAGES TO ANY LEGALS!


"Hillary and her party supporters desperately need illegal immigrants: Hillary is bought and paid for."  Michael Bargo, Jr.
*
"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now."  ----  Patricia McCarthy - AMERICANTHINKER.com


THE GRIFTERS: HILLARY, BILLARY and CHELSEA… global looters!


"But there is no doubt in my mind that the Clintons, thoroughly practiced

grifters that they are, as well as their increasingly shady daughter, will not

hesitate to use such classified information as they may be able to access for 

personal and political enrichment.  They've been doing it for decades, and

they're not about to stop now." RUSS VAUGHN


CLINTON MAFIA AND THEIR BANKSTERS AT GOLDMAN SACHS
WHO IS TIGHTER WITH THE PLUNDERING BANKSTERS? CLINTON, OBAMA or TRUMP?


The Clinton White House famously abolished the Glass–Steagall legislation, which separated commercial and investment banking. The move was a boon for Wall Street firms and led to major bank mergers that some analysts say helped contribute to the 2008 financial crisis.

Bill and Hillary Clinton raked in massive speaking fees from Goldman Sachs, with CNN documenting a total of at least $7.7 million in paid speeches to big financial firms, including Goldman Sachs and UBS. Hillary Clinton made $675,000 from speeches to Goldman Sachs specifically, and her husband secured more than $1,550,000 from Goldman speeches. In 2005 alone, Bill Clinton collected over $500,000 from three Goldman Sachs events.

Hillary Clinton is simply the epitome of the rabid self – a whirlpool of selfishness, greed, and malignance.


It may well be true that Donald Trump has made his greatest contribution to the nation before even taking office:  the political destruction of Hillary Clinton and her infinitely corrupt machine. J.R. Dunn
"Hillary will do anything to distract you from her reckless record and the damage to the Democratic Party and the America she and The Obama's have created."


“The tentacles of the Islamist hydra have deeply penetrated the world. The Egyptian-based Muslim Brotherhood poses a clear threat in Egypt. The Muslim Brotherhood also wages its deadly campaign through its dozens of well-established and functioning branches all over the world.”
*
“The Wahhabis finance thousands of madrassahs throughout the world where young boys are brainwashed into becoming fanatical foot-soldiers for the petrodollar-flush Saudis and other emirs of the Persian Gulf.” AMIL IMANI

BILL CLINTON SUCKS IN BRIBES FROM ISIS DONORS!


The Muslim Sheikhdom Qatar is a major sponsor of ISIS and global anti-American terrorism. How disturbing is it that Bill Clinton sucked in a bribe of ONE MILLION DOLLARS under the guise of a birthday gift? There is NO one the Clintons will not sell us out to and have already!

 

"Even though it has gone virtually unreported by corporate media, Breitbart News has extensively documented the Clintons’ longstanding support for “open borders.” Interestingly, as  he Los Angeles Times observed in 2007, the Clinton’s praise for globalization and open borders frequently comes when they are speaking before a wealthy foreign audiences and donors."

*

Clinton Cash investigates how Bill and Hillary Clinton went from being “dead broke” after leaving the White House to amassing a net worth of over $150 million, with $2 billion in donations to their foundation, wealth accumulated during Mrs. Clinton’s tenure as Sec. of State through lucrative speaking fees and contracts paid for by foreign companies and Clinton Foundation donors.
*
"The Clintons used this as a way to launder foreign donations (which would be illegal if they were campaign donations) to finance her campaign in absentia."

HILLARY AND OBOMB’S DIRTY SAUDIS DICTATORS…. 

How much as she sucked in?


DANCING WITH DICTATORS.... BOTH THE CLINTONS ARE EXPERT DANCERS!

Hillary’s Russian connection





“Facilitating strategic technology transfer in return for money is an old Clinton game.  The Chinese bought their way to access of considerable space technology when Bill Clinton was president.  Remember Charlie Trie, Loral, and the rest of the crew?”

AND THEIR BRIBES JUST KEPT ROLLING……..


HILLARY & BILLARY AND RED CHINA!


“Facilitating strategic technology transfer in return for money is an old Clinton game.  The Chinese bought their way to access of considerable space technology when Bill Clinton was president.  Remember Charlie Trie, Loral, and the rest of the crew?”

THE CLINTONS AND RED CHINA:
A MONEY MAKING TRAITORSHIP!
"Ask Jeff Sessions about the charges.  Money was flowing into the Clinton Foundation from all over the world, disguised, rerouted through a Canadian charity, all to obscure its origins."




SWAMP KEEPER TRUMP TO HAND FANNIE AND FREDDIE TO HIS CRONY HEDGE FUNDERS - THE PLUNDER WILL COST AMERICA AS MUCH AS THE BANKSTERS SWINDLED IN 2008

"American elites continue focusing on a global order while ignoring the decline of the United States. A broken America will be unable to meet any geopolitical threats abroad. Any national security strategy that does not begin with securing our own national security at home will be doomed to fail." DANIEL GREENFIELD 

Knowing that the wall will become a reality if the President gets the cash brings out the cheap-labor-express, wealthy power brokers like the Billionaires for Open Borders: Michael Bloomberg; Rupert Murdoch; other distinguished members of the Forbes 500; and, as Lou Dobbs often reminds us, the "globalists, the Chamber of Commerce, the Business Roundtable, Koch brothers and Wall Street." 
 “Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes.  This is the way a great country is raided by its elite.” ---- Karen McQuillan  THEAMERICAN THINKER.com



WALL STREET BANKSTERS AND THEIR BOUGHT DEMOCRAT POLS PREPARE FOR THE NEXT WAVE OF BOTTOMLESS NO-STRING BANKSTER BAILOUTS…

Will this one finish off the American economy?
*
Considering her record and documented history of poor ethical and moral fitness, it’s outrageous that Maxine Waters is up for chair of the ultra-powerful House Financial Services Committee, which has jurisdiction over the country’s banking system, economy, housing, and insurance.

"Wall Street billionaires are pushing a new plan to swipe the profits of Fannie Mae and Freddie Mac from U.S. taxpayers–and in the process revive the system of privatized-profits and public-risk that contributed to the severity of the Great Financial Crisis."
The Moelis plan stands out as a strikingly bold grab for control of the companies and their profits. It calls for the dividend payments to the Treasury to cease so that the companies can rebuild capital. Shockingly, it also calls for the cancellation of the senior preferred stock altogether–with no compensation for the past risk and future profits currently due to taxpayers. It is as if a company proposed to do a stock buyback by proposing to cancel its shares rather than purchasing them for cash.
*
So will Maxine Waters be the crusading financial protector of our 401k plans and save America from the next financial bubble? Well, there will certainly be lots of harassment and shakedowns. But don't count on her steering us clear of Wall Street excesses. If history is any guide, Mad Maxine will be way too busy raising money from the people she is now in charge of regulating. Stephen Moore is a senior fellow at The Heritage Foundation 
*
Waters, who represents some of Los Angeles’ poorest inner-city neighborhoods, has also helped family members make more than $1 million through business ventures with companies and causes that she has helped, according to her hometown newspaper. While she and her relatives get richer (she lives in a $4.5 million Los Angeles mansion), her constituents get poorer. JUDICIAL WATCH

DEMOCRAT PARTY CORRUPTION 

"This is how they will destroy America from within.  The leftist billionaires who orchestrate these plans are wealthy. Those tasked with representing us in Congress will never be exposed to the cost of the invasion of millions of migrants.  They have nothing but contempt for those of us who must endure the consequences of our communities being intruded upon by gang members, drug dealers and human traffickers.  These people have no intention of becoming Americans; like the Democrats who welcome them, they have contempt for us." PATRICIA McCARTHY


Report: Trump Administration Plans Jailbreak for Fannie and Freddie

https://www.breitbart.com/economy/2019/01/18/report-fhfa-acting-chief-plans-to-set-fannie-mae-and-freddie-mac-free-from-government-control/


AP Photo/Gustavo Garello
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The Trump administration is planning to end the conservatorships of Fannie Mae and Freddie Mac, according to a report from MarketWatch.

Joseph Otting, who is serving as the Federal Housing Finance Agency’s acting director while Mark Calabria awaits Senate confirmation, told an “all hands gathering” on Thursday that plans to release the two government-sponsored mortgage giants from conservatorship would be announced within weeks, MarketWatch reported.
An agency spokesperson confirmed to MarketWatch that there was a discussion about ending the conservatorships but denied Otting had put a timeline on any announcement.
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“Acting Director Otting held the internal meeting to meet FHFA staff and establish open lines of communication,” the FHFA said in a statement to MarketWatch. “He mentioned, as he previously has, that Treasury and the White House are expected to release a plan for housing that will include details about reform and will likely include a recommendation for ending Fannie Mae and Freddie Mac conservatorships. [Treasury] Secretary Mnuchin has said that the goal of the [Trump] administration is to take the GSEs out of conservatorship. Acting Director Otting said that he and FHFA will work to advance that plan.”

A History of Deception, Manipulation, Financial Domination, and Collapse

Fannie and Freddie do not make mortgage loans. They buy loans made by banks and other lenders, package them as mortgage-backed securities, and guarantee payments on those securities. This provides mortgage lenders with cash and relieves them from having to meet capital requirements on those loans. In addition, when banks make mortgages that can be sold to Fannie and Freddie, they get relief from a variety of regulations, including Dodd-Franks’ requirement that lenders hold 5 percent of the risk on loans they make.
Fannie and Freddie’s vast market power, together they backed around 44 percent of all new mortgages last year, means they exercise an enormous influence on what kind of loans lenders make and which borrowers receive loans. Conservative critics say this played a role in fueling the housing bubble as both companies pushed lenders into taking excessive risks. Even today, many lenders seek to make loans tailored to meet Fannie and Freddie’s goals.
Both companies could borrow at extremely low costs, near the risk-free rate enjoyed by the federal government, because investors assumed they had the backing of the federal government. This so-called “implicit guarantee” arose because the companies were originally established by the U.S. government, were chartered by an act of Congress, and had numerous exemptions from taxes and regulations that marked them as pseudo-government entities.
The low funding cost boosted profits at the companies and allowed them to accumulate vast portfolios of mortgage-backed securities. These portfolios were highly profitable but also vastly increased the risks the companies were taking. They did not require much financial acumen to make money, however, because all the companies had to do was borrow at low interest rates and use that money to buy securities packed with mortgages that paid higher rates.
At the height of their power, Fannie and Freddie also exercised vast political influence. The companies used this influence to control the Office of Federal Housing Enterprise Oversight, the agency charged with regulating them before it was replaced by the FHFA, and to lobby Congress to keep their capital requirements dangerously low and fend off attempts to impose more stringent regulation.
“Fannie Mae management expected to write the rules that applied to the Enterprise and to impede efforts at effective safety and soundness regulation,” a 2006 report by government examiners concluded.
That report found:
A combination of factors led Fannie Mae senior management, through their actions and inactions, to commit or tolerate a wide variety of unsafe and unsound practices and conditions. Those factors included the Enterprise’s enormous financial resources and political influence, the expectation that senior management could write the rules that applied to Fannie Mae, financial rewards tied to a measure of profits that management could easily manipulate, and the relative disinterest of senior executives in adhering to standards of prudent business operations.
The report concluded that although Fannie Mae’s senior management promoted an image of the company as one of the lowest-risk financial institutions in the world, its true risks were “greatly understated and that the image was false.” Its seemingly smooth and reliable earnings were “illusions deliberately and systematically created by the Enterprise’s senior management with the aid of inappropriate accounting and improper earnings management.”
The companies and their executives vigorously denied the charges. Some of their defenders, including then-Congressman Barney Frank, insisted there was no implicit guarantee covering the companies–a position that would prove embarrassing when the companies were in fact rescued by the government.
In 2006, Fannie had to restate its reported earnings by $6.3 billion to correct several years of accounting problems in what was then one of the biggest financial scandals in U.S. history. Freddie also restated earnings by billions of dollars for multi-year accounting problems.
Two years after the special examiner’s report, both companies were on the verge of collapse.

After a Bailout, Hedge Funds Sue Seeking Windfall

Fannie and Freddie were bailed out at the height of the financial crisis and put into conservatorship by the FHFA. Over the next few years, the government injected $187.5 billion of new capital to keep the companies solvent. In exchange, the government received warrants for a 79.9 percent stake in the companies and senior preferred stock that initially paid a 10 percent dividend. In 2012, the dividend was changed from fixed to floating, requiring the companies to pay all of their profits to the government but relieving them of the burden to pay in quarters that result in financial losses. That arrangement has come to be known as the “net worth sweep” because the companies pay all of their positive net worth to Treasury.
When the companies were first put into conservatorship, many in the government underestimated the size of their financial losses and assumed they would be rehabilitated and released. Others believed Congress would pass legislation that would create a replacement for the liquidity and guarantee roles played by Fannie and Freddie.
Congress has attempted several times over the years to enact housing finance reform legislation but those efforts have failed due to conflicting views about the government’s role in the mortgage market.  Conservative and libertarian lawmakers would like to see the government step back from supporting such a large portion of the market for home loans, with some advocating no government backstop at all. Liberals and self-styled affordable housing advocates insist that some sort of government support is necessary to promote home ownership and keep mortgages affordable and available for lower-income Americans.
Several hedge funds and other institutional investors bought up shares of Fannie and Freddie in hopes that they would be released from conservatorship and allowed to return to control by shareholders. Many of these investors purchased junior preferred shares that were trading at deep discounts to their face value. Others purchased common shares. Those that bought before the net worth sweep was introduced in 2012 have done very well. Shares that once traded at less than 25 cents were trading at above $1.80 on Thursday, a 640 percent rise, before they jumped higher when the MarketWatch story broke.
Despite these gains, some of the investors have sued the government seeking to end the conservatorships and have the courts strike down the net worth sweep. At first, the fund managers described their lawsuits as surefire winners, calling the net worth sweep “clearly illegal.” Some investors were so confident that they bought shares after the sweep was implemented. Bill Ackman’s Pershing Square became the largest holder of common stock years after the sweep was introduced.
The federal courts have not agreed with the investors. Nearly all of the many lawsuits filed by investors have been dismissed by courts, with many of those dismissals surviving challenges in appeals courts. A few cases remain outstanding, including one in the Federal Court of Claims where investors have said the sweep amounts to an unconstitutional “taking” of their property without compensation.

A Dark Money Campaign Waged by Hedge Funds

But hedge funds have not relied solely on the courts in pursuit of a Fannie and Freddie windfall. Behind the scenes, they have deployed a shadowy campaign to influence various Washington D.C. groups to take their side. This has included donations to civil rights groups, affordable housing advocates, and a campaign to convince conservatives that the net worth sweep is an affront to property rights. At one point, advocates for overturning the net worth sweep resorted to falsely claiming that profits from Fannie and Freddie were being illegally used to fill a budget hole created by Obamacare.
Mark Calabria, now serving as an advisor to Vice President Mike Pence and awaiting Senate confirmation for the job of running the FHFA, co-wrote a paper in 2015 arguing that the government’s treatment of Fannie and Freddie was not in keeping with the Housing and Economic Recovery Act of 2008. Calabria, then a policy expert at the libertarian Cato Institute, had served as a staffer on the Senate Banking Committee and had a hand in drafting that law. His co-author, Michael, Krimminger, is an attorney who had served in policy leadership positions with the FDIC.  When their paper was released,  they presented their analysis on a media teleconference sponsored by Investors Unite, a group formed to advocate for shareholders of Fannie and Freddie.
The arguments in the Calabria-Krimminger paper were later used by attorneys for investors as part of their legal brief.
In the absence of Congressional action, many have been urging the Trump administration to act unilaterally to release Fannie and Freddie from conservatorship. The investment banks Moelis & Co this fall re-introduced its plan to have the agencies released. It calls for the government to surrender its senior preferred shares in exchange for nothing. Instead, the government would exercise its warrants and control just under 80 percent of the company–essentially giving away the other 20 percent to the hedge funds and other shareholders. Some investors say shares could rise to as high as $20 to $40 under this plan.
In December, a group of some of the nation’s most prominent and respected housing finance experts authored an op-ed condemning the Moelis plan:
Taking advantage of this congressional impasse, several of Fannie and Freddie’s largest investors have banded together to advocate a path out of this state of limbo. Remarkably, however, the path does not lead to a new system as policymakers had intended, but back to the very system we had before the crisis. Yes, the one that nearly took down the economy.
To their credit, the investors recommend retaining some of the reforms that have taken place in conservatorship, such as limits on what Fannie and Freddie can invest in, and higher capital levels. But they would leave untouched the fundamental structural flaw that was the system’s ultimate undoing: the dominance of a duopoly that is too big and too important for the nation ever to let fail.
This makes sense from the investors’ point of view, as Fannie and Freddie’s market power will bring them more profits. But it is absurd from the nation’s point of view.
By once again standing behind the solvency of these two institutions, which taxpayers would have to do for the very reasons we could not let them fail the last time around, we would again give Fannie and Freddie the incentive to take outsized risks.

Otting, Mnuchin, Mulvaney, and Moelis

It is not clear if Otting’s plan to release the companies is modeled after the Moelis plan or if Calabria also agrees the companies should be released from conservatorship.
Otting is a former banking executive and associate of U.S. Treasury Secretary Steve Mnuchin. Sources close to the White House say he is part of the “banker/globalist/Davos” wing of the Trump administration. Prior to becoming the chief at Office of the Comptroller of the Currency and acting head of the FHFA, he was chief executive officer of OneWest, the California lender started by Mnuchin after the 2008 housing crisis. OneWest was built from the ashes of the failed California lender IndyMac. Along with Mnuchin, investors included billionaire hedge fund manager John Paulson and left-wing donor George Soros. OneWest was sold to CIT Group in 2015.
“He’s not deep state, but he’s deep Wall Street,” one Trump administration official told Breitbart News.
Wall Street certainly cheered the news that the companies could be released. Shares of Fannie and Freddie moved sharply higher on Friday, jumping 35 percent to more than $2,40.
Shares of Fannie and Freddie have moved on comments by Trump administration officials in the past. Even before the president was sworn in, Trump’s pick for Treasury Secretary Steven Mnuchin said that privatizing the two companies would be a top priority for the administration. He later clarified that the administration planned to work through Congress for comprehensive housing finance reform rather than unilaterally releasing Fannie and Freddie.
Last year, however, Mnuchin said that he expects Congress to enact housing finance reform in 2019 and that the administration could take action on its own if Congress does not act. Some inside the Trump administration feared that could wind up as a push to adopt the Moelis plan.
Mick Mulvaney, the White House’s budget director and the acting head of the Bureau of Consumer Financial Protection, is also viewed as a potential ally of those pushing the Moelis plan. As a Congressman, Mulvaney sponsored a bill that offered “a bonanza for hedge funds seeking to cash in on their investments in Fannie Mae Mae and Freddie Mac—but the cost to taxpayers would [have been] steep.” That bill died on Capitol Hill for lack of support.
The government continues to support Fannie and Freddie even though the two companies have returned to profitability. Treasury continues to promise to support the companies with over $220 billion of bailout funds should they need it. And the Federal Reserve has bought hundreds of billions of their securities, often buying more than the companies issued in a given month.