What started as a rumor, may now contain credibility, according to the Daily Caller. And it could be a damning scandal for Obama and his signature health care bill.
Where the American taxpayers are concerned, the allegation could be the starting point to end a highly suspect scheme known as “Net Worth Sweep”.
We are talking about the accusation that the Obama administration illegally diverted profits from Fannie Mae and Freddie Mac to the bankroll portions of Obamacare.
After the Affordable Care Act was signed into law, Obamacare opponents in the House of Representatives shrewdly refused to fund handouts to insurance companies to subsidize health insurance premiums for lower-income individuals. Since the primary purpose of the legislation was to provide subsidized health insurance for struggling Americans, Obamacare was left in a lurch.
The executive branch tried everything from deceptive accounting to shell games to move money from one pot of government funds to the Obamacare till. Ultimately, a federal judge stepped in and ruled that the Department of Health and Human Services could not redirect other federal funds to pay for the subsidies.
Within weeks, however, the subsidies were miraculously funded, against the will of Congress.
Recently revealed documents appear to confirm that the sudden influx of Obamacare funds was money the Obama administration diverted from Fannie and Freddie.
If these documents are correct, we are dealing with a major scandal. Something that can’t go unanswered for.
As the details emerged, respected financial reporters like Maria Bartiromo of Fox News and the Fox Business Network, began criticizing Obama for his dishonest budgetary tactics.
Are the liberals going to start screaming “fake news”? These are some pretty hefty allegations from some pretty reliable people.
InfoWars Washington bureau chief, Jerome Corsi, said he believes the scheme was to deliberately attempt to bankrupt the federally sponsored mortgage facilitators.
But the more likely story seems to be Obama was doing anything and everything to save Obamacare. And if that meant secretly siphoning money, then so be it.
Whatever the former president’s reasoning, Obamacare apparently illegally devoured billions of dollars from government-sponsored enterprises committed to helping struggling American accomplish their dream of owning a home.
A group of Fannie and Freddie shareholders, who believe their profits were skimmed by Obama and his cronies to fund Obamacare insurance subsidies, are fighting back. They sued the federal government to receive the dividend payments that were pocketed by the federal government.
The shareholders have a right to be mad. Their initial investments were used to rescue Fannie Mae and Freddie Mac as part of the Housing and Economic Recovery Act of 2008 – the housing bailout bill. Fannie and Freddie profits were supposed to repay those shareholders for bailing them out, as well as fund an emergency account to ensure future bailouts wouldn’t be needed.
Since 2013, all the profits from Fannie and Freddie have been swept into the Treasury Department’s general funds. Not a penny has been returned to investors or set aside.
And that’s where the term “Net Worth Sweep” comes in. The regular action (that’s a pleasant though…) takes place with no Congressional authority. It inappropriately diverted $240 billion in dividends from investors to federal programs, according to Corsi.
It’s time for Trump to put an end to this and for some people to be brought to justice.