Reply #17: Here you go dear Kanary: [View All]

Catherine Austin-Fitts

http://www.whereisthemoney.org/

http://www.solari.com/gideon/

EXPERIENCE WITH FHA-HUD
BACKGROUND INFORMATION FOR:

UNANSWERED QUESTIONS:

IS MORTGAGE SECURITIES FRAUD
SPONSORED BY THE US TREASURY & FEDERAL RESERVE BANKS
A PART OF THE US ‘STRONG DOLLAR’ POLICY?

By Catherine Austin Fitts
June 2003



In the summer of 2000, a member of the staff for the Chairman of the Senate appropriation subcommittee (with jurisdiction over HUD and its FHA mortgage insurance and Ginnie Mae mortgage securities programs) confided to me that they believed that HUD was being run as "a criminal enterprise." I responded that I "did not disagree."

Reaching that conclusion was a long time coming. It took many years of experience implementing practical and sound reforms to the FHA mortgage system, only to have the system reject any and all efforts to have it become anything other than an integral part of a significant mortgage bubble and a pork and slush fund operation. Because FHA and its securitizing agency, Ginnie Mae, as a practical matter are run by the US Treasury, the Department of Justice, the NY Fed (as depository for the federal government and manager of the Exchange Stabilization Fund) and a group of defense contractors and JP Morgan-Chase, the implications regarding the integrity of the US financial system are profound.

The following list describes some of my representative experiences working with FHA, the lead US mortgage insurance agency and regulator, as Assistant Secretary-FHA Commissioner in the first Bush Administration, as the President of Hamilton Securities Group, the lead financial advisor FHA during the Clinton Administration, and then as a litigant with the US Department of Housing & Urban Development and their informant, Ervin & Associates, during the Clinton Administration and the second Bush Administration.



Just google Catherine Austin-Fitts, more there that anyone can get through in a day. Another genuine whistle-blower.