Many thanks, Opanin. You are also a very erudite chap too. Hmm, well, forgive me if this makes you eat humble pie: but the Federal National Mortgage Association (Fannie Mae), was created in 1938 to encourage banks to issue mortgages during the Depression, by President Roosevelt, as a federal institution. It was privatised in 1968.
Freddie Mac - (the Federal Home Loan Mortgage Corporation) was created in 1970 to support home ownership and the building of rental housing for people with lower incomes. It is also a private company.
Surely, someone as clever as you Opanin, is aware of the real history of both of those two U.S. mortgage giants?
Yes, both Fannie and Freddie are subject to federal oversight and are traded on the New York Stock Exchange. So although they have private shareholders, yes, both are quasi-governmental institutions, in that sense: making us both right, in a manner of speaking, Opanin.
Anyway, do please ask any friends you might have in the US financial services industry. As it happens, I actually studied their business models, in seeking examples of Nkrumah's many far-sighted ideas about private public partnerships (PPP) that the West has belatedly adopted - so I do actually know what I am talking about, Opanin: surprising though it might be to you, sir.
Please read Nkrumah's speech at the official opening of the oil refinery at Tema on September 28, 1963, for an insight into his farsighted ideas about win-win public private partnerships for developing nations.
Well, as far as focusing on China, and ignoring many of your brilliant but sadly misguided points, it was only to make people aware that it has huge reserves: and is always open to creative suggestions from its friends in Africa.
And I am sure that you'd be the first to know that getting their money on generous terms by selling them our sovereign bonds in a purely commercial transaction between two friendly regimes, beats sourcing funding for Ghana's development in the piranha-infested waters of the capital markets of the West?
And please never think that an ignoramus and a fool like Kofi Thompson, thinks he knows everything under God's sun - because I don't.
All I really know, is that I know nothing, actually - and I am consequently always seeking to learn from highly-intelligent people like your good self, Opanin.
Do stay blessed, Opanin - and I do hope you aren't one of those "My-party-my-tribe-right-or-wrong" myrmidons.
Being an old man, I always overlook insults heaped on me by others - so, again, thanks for your riposte: and do take another look at your history books, as regards the U.S. mortgage industry.
May God bless and protect our homeland Ghana, always. Long live freedom! Long live Ghana!
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