By JOHN YOO and HORACE COOPER, Investors Business Daily
A federal judge this week slapped down another effort by the Obama administration to conceal its use of taxpayer funds. Litigation between shareholders in Fannie Mae and Freddie Mac and the U.S. government has called for the revelation of documents that the White House tried to keep secret under the doctrine of “executive privilege.”
Plaintiffs contend that the federal takeover of Fannie Mae and Freddie Mac in 2008, and the diversion of profits from the companies to the federal treasury in 2012, carried out an unconstitutional taking of property. The Obama administration has refused to make public communications — thousands of documents — between the Treasury Department, Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac, and the White House, on the ground of executive privilege.
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