Fannie Mae and Freddie Mac are GOVERNMENT ENTERPRISES!

http://en.wikipedia.org/wiki/Government_sponsored_enterprise

Want to know why they were created?

“Fannie Mae was created in 1938 as part of Franklin Delano Roosevelt’s New Deal. The collapse of the national housing market in the wake of the Great Depression discouraged private lenders from investing in home loans. Fannie Mae was established in order to provide local banks with federal money to finance home mortgages in an attempt to raise levels of home ownership and the availability of affordable housing. ”

http://hnn.us/articles/1849.html

Of course, than government added the Housing and Urban Development group to help the underprivileged.

http://en.wikipedia.org/wiki/Department_of_Housing_and_Urban_Development

And then the Community Reinvestment Act to do the exact same thing.

http://en.wikipedia.org/wiki/Community_Reinvestment_Act

All these programs were aimed at getting people in to houses. The risks of housing people who could not afford them simply increased more and more.

If government had not become involved at all, there would not be problem to begin with!

Highlights with my emphasis:

“Joslyn leadership had asked Sen. Ben Nelson, D-Neb., if he could secure public funds to jump-start a parking expansion and sculpture garden initiative on the newly acquired land. Nelson was able to tack $950,000 for Joslyn onto a transportation spending bill.

In October 2005, Sen. Tom Coburn, R-Okla., took offense. He proposed stripping the money from the bill, saying federal money should be spent on “more human needs” instead of a parking lot. Nelson defended the Joslyn money, saying he thought the project was worthy of federal funds.

The Senate voted 86-13 against Coburn’s proposal. Sen. Chuck Hagel, R-Neb., sided with Coburn.”
——

“Using its strong network of supporters, the museum has raised more than $16 million for the project. The actual cost ended up being $7.5 million. The excess cash will help acquire artwork for the garden and bolster the museum’s general foundation fund.”

——

Resource:
http://omaha.com/index.php?u_page=1219&u_sid=10646400

Complaints of fraud can be submitted to the General Office of Accounting:

How to submit allegations:

• • Fill out a FraudNET form at https://www.gao.gov/cgi-bin/fraudnet.cgi
  • Send an e-mail to fraudnet@gao.gov
  • Call 1-800-424-5454 (an automated answering system)
  • Send a fax to FraudNET at 202-512-3086
  • Write to:GAO FraudNET
    441 G Street NW
    Mail Stop 4T21
    Washington, DC 20548

Resource:

http://www.gao.gov/fraudnet/fraudnet.htm

Demand Joslyn return the $950,000 by sending it as gift to the Bureau of the Public Debt.

J. Brooks Joyner, Director

Joslyn Art Museum

2200 Dodge Street
Omaha, Nebraska 68102-1292

James R. Young, Chairman of Board of Governors

Joslyn Art Museum

2200 Dodge Street
Omaha, Nebraska 68102-1292

Resources:

http://www.joslyn.org/Contact/Staff-Directory.aspx

http://www.joslyn.org/About/Board.aspx

How do you make a contribution to reduce the debt?

Make your check payable to the Bureau of the Public Debt, and in the memo section, notate that it is a Gift to reduce the Debt Held by the Public. Mail your check to:

Attn Dept G
Bureau of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188

Resource:

http://www.treasurydirect.gov/govt/resources/faq/faq_publicdebt.htm