Consumer Advocate Ralph Nader at National Press Club Thursday
- September 3, 2014
September 3, 2014
Consumer advocate and trailblazer Ralph Nader will appear Thursday at The National Press Club alongside anti-tax crusader Grover Norquist to discuss areas where those on opposite sides of the political spectrum can find common ground. This is bound to be an invigorating discussion. Not only are both of these men passionate and tireless advocates for their various causes, but they are both extremely well-read and plugged in to the channels of power as well as to the ground troops that causes need to make things happen.
Some of you might recall that Mr. Nader hosted an Investors Unite event in April. His interest in GSE reform, though, extends back decades, during which he has long advocated for the government to recognize shareholder rights. As an investor in both Fannie Mae and Freddie Mac, Mr. Nader has a first-row seat from which to watch the government’s illegal sweep of the mortgage giants’ shareholder dividends into the Treasury vault. *Spoiler Alert* He’s not happy about the government’s actions, both as an investor and as an individual who has long fought for shareholder rights.
In March, Mr. Nader conducted a Q&A with The Street. We really couldn’t say it any better than he does, so we’re quoting an excerpt from that interview here:
TheStreet: What do you think is going on here? Why do you think the Treasury did this amendment in 2012?
Nader: I think two reasons. One, they thought they could get away with it because they thought there’s no history of law behind conservatorship like this. It’s all behind bankruptcy. And so they thought they could write their own rules, just like they wrote their own conservatorship. And the second is, they sensed that this would help keep the deficit down – that this huge Niagara of profits would – and they were right on that. Oh by the way, there’s a third reason. And they had already stripped the shareholders of any rights, you see, so they didn’t have to worry about the shareholders. But they miscalculated that one, at least to the point where they’re confronting lawsuits which they think they’re going to win.
This event is a great opportunity to hear from two people coming at politics from very different perspectives discuss issues that shouldn’t be couched in political terms. GSE reform is critical to the overall viability of our country’s housing market. While conservatives and liberals have different solutions, we can call agree that reform is needed. We’re very much looking forward to hearing both
men speak on a number of issues and to hearing how they believe all of us can come together to advocate for significant reforms.
For those who are interested in attending the event, you can find more information about registering here.