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UNANIMOUSLY AGREEABLE RATIONAL OF GOVERNANCE JUSTIFIES CONTINUE FANNIE MAE AND FREDDIE MAC

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UNANIMOUSLY AGREEABLE RATIONAL OF GOVERNANCE JUSTIFIES CONTINUE FANNIE MAE AND FREDDIE MAC Dear President Obama,The prevailing rationale of governance assumes that individuals maximize the utilities of their wealth consumption. This rationale has inextricably bonded...

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UNANIMOUSLY AGREEABLE RATIONAL OF GOVERNANCE JUSTIFIES CONTINUE FANNIE MAE AND FREDDIE MAC

Dear President Obama,
The prevailing rationale of governance assumes that individuals maximize the utilities of their wealth consumption. This rationale has inextricably bonded the vast majority of households, their employers governments with an estimated $100 trillion of debt worldwide. The gargantuan debt burden is the the current global economic crisis. The vast majority of indentured borrowers cannot accept the prevailing rationale of governance that has caused their bondage.

Problem of Moral Hazard due to Privileged Information and Access to Cheap Funds
The crux of moral hazard problem that bedevils the US economy is private custody of publicly insured deposits at too-big-to-fail (TBTF) banks run by too-big-to-be-jailed (TBTJ) bankers, as found in research paper on efficient resolution of moral hazard mimeographed at the Board of Governors of Federal Reserve System, Washington, D.C.

Buxi Jagabandhu then led the command of Khurdha and went to Ghumusar to seek the help of Ghumusar Kandha Paikas. Historical facts tell that 400 Ghumusar Kandha Paikas marched under the command of Buxi Jagabandhu from Ghumusar towards Khurdha (which was under Bengal Presidency) to wage a formidable rebellion in 1817.

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