Judicial Watch has been digging hard into the scandals behind the collapse of Fannie Mae and Freddie Mac and their role in helping trigger the global financial crisis. A key component of this investigation involves the role political corruption played in the failure of adequate congressional oversight and the catastrophic collapse of these “government sponsored entities” in 2008. That’s why we filed a Freedom of Information Act (FOIA) lawsuit against the Obama administration to get hold of documents related to Fannie and Freddie’s campaign contributions over the last several election cycles.
We figure since American taxpayers are on the hook for trillions of dollars, potentially including $400 billion alone for Fannie and Freddie, we deserve to know how and why this financial collapse occurred and who in Washington, D.C. is responsible.
Unfortunately the Obama administration disagrees.
Just last month the Federal Housing Finance Agency (FHFA), the agency responsible for Fannie Mae and Freddie Mac, responded to our FOIA lawsuit by telling us that all of the documents we seek are not “FOIA-able”!
Here’s the exact language the Obama agency used in its recent court filing: “…Any records created by or held in the custody of the Enterprises reflecting their political campaign contributions or policies, stipulations and requirements concerning campaign contributions necessarily are private corporate documents. They are not ‘agency records’ subject to disclosure under FOIA.”
So there you have it. You and I are paying the tab for the collapse of Fannie and Freddie, but we are not allowed to ask any questions about why it happened. The Obama administration is saying, in effect, “None of your business.” read more
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