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:

4/25/1939                   4/1/1958                    8/1/1968

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

Current U.s. National Debt:

$36,167,124,467,492

Source