In an article dated 12.31.2014, DSnews reported that an online petition has been posted, addressed to the Obama Administration, to end the conservatorship of FNMA and FHLMC. The petition organizers hope to obtain 100,000 signatures by 01.19.2015. The petition was posted as of 12.20.2014 and has 968 signatures as of the writing of this post. The petition is HERE.
The article indicates that the conservatorship is costing taxpayers money and that the GSEs have been turning a profit since 2012. The article cites that more than several law suits are pending against FHFA and the GSEs to stop the sweep of all funds earned by the GSEs in to the U.S. Treasury. The suits are by the various private investors that still remain as stockholders in the GSEs and have not received any payments from their investments since the government bailout in 2008. This is in despite of the fact that the bailout of $188,000 billion has been repaid, and in fact the GSEs have repaid in excess of $225 billion to the federal government. Previous posts on this subject are, "Bailout Repayment Bad for Borrowers", and "Fannie / Freddie Reform".
The petition is two paragraphs and only encourages the end of the conservatorship. You can sign the petition by clicking on the link above. If you wish to express your opinions regarding the restructuring or privatization of the GSEs, I strongly encourage you to write to your Congressman and to the FHFA. Contact information for Congress can be found HERE. Contact information for FHFA can be found HERE. Make your opinion known on this pressing and important issue. You can also start your own petition at the link provided above.
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