Comment Detail

Comment

To Whom it may concern:

As a share holder in FANNIE MAE and FREDDIE MAC, I find it confusing, disheartening, frustrating, and if not illegal certainly immoral with the actions of the U.S. Government’s handling of the conservatorship and net worth sweep.

Simply put, the idea that the majority shareholder in these two entities at the detriment of the minority shareholders can put the two entities into a financial crisis and risk position, by taking all the dividends is preposterous. Further more they put the U.S. taxpayer on the hook since they strip all the equity out of these organizations.

How can the government justify taking the dividends and not applying them to the advance from the Treasury Dept.? Treasury knew that these organizations were returning to profitability and yet saw the way to steal money from them by falsely claiming they had to be put into conservatorship. Fannie and Freddie have repaid far more than any other entity that was bailed out by the government.

WHY DOES THE GOVERNMENT THINK THEY CAN DO THIS? Because they make their own rules and don’t have to follow the law. This is total abuse of power and would not work in any other setting.

I am asking you to do what’s right and restore Fannie Mae and Freddie Mac to financial solvency so that you can restore confidence in what the government is supposed to do and reduce the risk to the American taxpayer.

Reform cannot happen until this is resolved in an equitable manner

Thank you for considering my comments,

Carl Roberts
crr1202@yahoo.com