Washington, DC (PRWEB) October 5, 2008
In wake of the failures of our government run mortgage institutions, Fannie Mae and Freddie Mac, credible sources of Old Sarge Productions.com can confirm that a request to Mitt Romney, former Presidential candidate and former Governor of Massachusetts, has been submitted with the concept of Mr. Romney becoming the President & CEO of the yet to be formed American Mortgage Cooperative.
The American Mortgage Cooperative is to be formed from the federal taxpayers into a cooperative whose members will consist of 51% ownership (taxpayers) and 49% private sector (investors).
All final decisions regarding the business of the cooperative must be approved by the ownership or their American Mortgage Cooperative elected representatives. The government's role in the cooperative will be one of oversight, not operation.
The cornerstone of the American Mortgage Cooperative is the operation of a proper, private sector business cooperative, in both a successful and profitable manner, based upon the mutual risks and rewards for the owners, labor, investors, management, and leadership of the American Mortgage Cooperative. An unauthorized, and some say draft copy, was inadvertently released ahead of schedule, but sources say there are no significant differences between the two.