Democratic (socialist/fascist) de facto President Franklin Roosevelt, Esq., the National Housing Act of 1938, creating the Federal National Mortgage Association, (a.k.a. “Fannie Mae”), to purchase mortgages from commercial banks, “bundle them” (according to credit worthiness) and then resell them in the securities market.
NOTE: This is the further realization of plank number five of the “Communist Manifesto” by Karl Marx.
[added 7/18/2022] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
National Housing Act Amendments of 1938, 52 Public Statutes at Large 8 (1938).
Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case – Bloomberg
www.bloomberg.com/news/2015-06/-13/fannie-freddie-fix-expands-to-16/0-billion-with-worst-case-at-1-trillion.html
Communist Manifesto 10 Planks
www.libertyzone.com/Communist-Manifesto-Planks.html