The Market Ticker, September 27. 2009
The link to the "obvious insider trading" ticker containing the chart referenced....
And the Fannie/Freddie disclaimer:
Notice the explicit disclaimer:
Not only is Fannie paper NOT full faith and credit but in addition THEY ARE EXPLICITLY DISCLAIMING AGENCY STATUS!
This is on the face of EVERY Fannie (and Freddie) prospectus. All of them. So where is the authority of The Fed to buy this paper, given the constraints in Section 14?
Who is The Fed bailing out by monetizing Fannie and Freddie paper when it is quite clear on the face of that prospectus and a clean read of Section 14 that they don't have the authority to buy that paper in the first place?
Now do you understand why The Fed doesn't want to be audited? And why we get threats about "disruptions" if, in fact, The Fed is audited?