Did Obama Illegally Divert Money From Fannie and Freddie Mae to Prop Up Obamacare?

Might be another scandal from the Scandal-Free Administration (TM).

Note that this story started with allegations from Jerome Corsi, Alex Jones, and InfoWars -- however, it seems to be snowballing into a genuine story, not just a speculation or rumor.

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.

As these additional details emerged, respected financial reporters such as Maria Bartiromo of Fox News and the Fox Business Network began lambasting Obama for his dishonest budgetary tactics.

Fannie and Freddie have shareholders -- and the shareholders are suing, making the claim, basically, that Obama embezzled them.

Update: More background from ZeroHedge, including a bit I'd forgotten -- the House of Representatives sued over this practice in 2014.

Tucker Carlson talked about this a couple of nights ago. The discussion begins at 35:50 (near the end of the show). Josh Rosner, managing director of Graham Fischer Management Company (no, I don't know who he is or what that is) calls this "a simple theft."

Thanks to Jack Straw.

posted by Ace at 03:20 PM

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