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Message: Excerpt ....what happened to the pension funds?

Excerpt ....what happened to the pension funds?

posted on Jul 15, 2008 06:51PM

(9) NOW: Regulators normally require monies in pension funds to be deployed in operations that have to be mounted to stabilise any public or private corporation in financial distress. BUT:

The Federal Home Loan Mortgage Corporation (Freddie Mac) has NOT admitted to any financial problems and has NOT offered its pension plan for use in any financial mechanism or pledge for the purposes of stabilising its financial circumstances (despite the fact that the OMB has been unable to publish financial data for this GSE for many years now).

(10) WHY has Freddie Mac failed to offer its pension plan funds, said to be worth about $2.0 billion (see point (3) above) for this purpose, given that the 'mainstream' media has now caught up with the fact that Freddie Mac is in financial difficulties, albeit over seven months behind the curve?

BECAUSE THE FREDDIE MAC PENSION PLAN FUNDS DO NOT EXIST.

(11) Uh, GOLDMAN SACHS was reportedly Custodian/Manager for the Freddie Mac Pension Plan, when Paulson was Chairman and CEO of Goldman Sachs. THE FREDDIE MAC PENSION PLAN FUNDS WERE USED TO SUPPORT THE DERIVATIVES BUSINESS OF GOLDMAN SACHS.

(12) Refer, please, to a Wall Street Journal article dated 15th July 2008 entitled 'Paulson drove plan to shore up Fannie Mae, Freddie Mac', in which you can read all about the fact that...

'Paulson' wants 'EXPLICIT' guarantees on the loan portfolios of all the Government-Sponsored Enterprises, including of course the Federal Home Loan Mortgage Corporation (FHLMC) and the Federal National Mortgage Association (FNMA). WHY?

ANSWER: To obfuscate and hide this PENSION FUNDS SCANDAL.

And 'Paulson' has gone much further, arrogantly demanding powers to shovel out any amount of money to any segment of the financial sector at any time with no restraints whatsoever.

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