Letter to Chair Bessent
Miscalculations in the Financial Stability Oversight Council Report
December 15, 2025
The Honorable Scott Bessent
Chair
Financial Stability Oversight Council
U.S. Department of the Treasury
1500 Pennsylvania Avenue NW
Washington, D.C 20220
Sent via Courier &
Re: Miscalculations within the Financial Stability Oversight Council Report
Dear Chairman Bessent:
Please forgive the bluntness of this letter, but the Financial Stability Oversight Council Report of December 2025 has a conclusionary fatal flaw, especially regarding pages 29 – 38 which has ramifications in other areas of the Report. The fatal flaws to the Report include fraudulent property tax, school district accounting and bond fraud and the related State and Federal crimes.
Just a few quick facts:
Roughly $450 Billion was stolen in 2024 alone as a result of over $21 Trillion in fraudulent property over valuation in the last 5 years.
Property taxes average 8.6% of the median household income.
The only thing separating 36.8% of home owners (42,000,000 people) from bankruptcy is $9,000 of which roughly $7,000 is property tax.
You may want to examine the following:
Amicus Brief now at the Supreme Court of Texas
The importance of the Vexler Case to Texas and the United States
Petition to the SCOTX
https://irp.cdn-website.com/39439f83/files/uploaded/2025.08.20-Petition+No+25-0615.pdf
Motion for Rehearing - SCOTX
Letter to Kash Patel Director of FBI
https://irp.cdn-website.com/39439f83/files/uploaded/Letter+to+Mr.+Kash+Patel+Director+FBI.pdf
Criminal Complaint
Freedom of Information Act request to Attorney General Ken Paxton
School District Accounting Fraud with Balance Sheet Analysis – The Federal Government is also being defrauded by hundreds of billions across the U.S.
Presentation to SEC and FBI - Ramification of Insolvent Bond
https://irp.cdn-website.com/39439f83/files/uploaded/Ramifications+-+Insolvent+Bonds-082025-504pm.pdf
Letter to SEC
https://irp.cdn-website.com/39439f83/files/uploaded/082125-Email+Letter+to+Mr.+Gulde.pdf
Institutionalized Systemic Moral Hazard
https://www.mockingbirdproperties.com/systemic-institutionalized-moral-hazard
A Bankrupt Population is a National Security Risk
https://www.mockingbirdproperties.com/a-bankrupt-population-is-a-national-security-risk
Violations of State and Federal Law
https://irp.cdn-website.com/39439f83/files/uploaded/Partial_List_of_Violations_Reviewed-052224.pdf
Credit Analysis and Systemic Moral Hazard
https://irp.cdn-website.com/39439f83/files/uploaded/Credit+Analysis+and+Systemic+Moral+Hazard.pdf
For the Kids
https://www.mockingbirdproperties.com/for-the-kids
December 9, 2025 – Press Release by Attorney General Ken Paxton
https://www.mockingbirdproperties.com/december-9-2025-press-release-texas-attorney-general
What do we know and what are we facing?
https://www.mockingbirdproperties.com/what-do-we-know-and-what-are-we-facing
This is a partial list of the most poignant video interviews on the crimes of property tax fraud and school district bond fraud where I outline the issues.
https://www.mockingbirdproperties.com/property-tax-fraud-media-outreach
www.mockingbirdproperties.com/dcad is the library of evidence, documents, transcripts, depositions, video, audio, reports, and analysis showing the pattern and practice of property tax fraud not just in Texas but across the U.S. especially with regard to any school district that raises bonds which are being used to pay interest and not permanently retire outstanding bonds (at the expense of the students and teachers) and that is the definition of a Ponzi scheme. The courts recognize that fraud has occurred but provide no mechanism to adjudicate the fraud as a result of Ultra Vires and Sovereign Immunity neither one of which definitions would exist if not for the ability to provide adjudication for fraud thus the legal dead zone and the creation of Institutionalized Systemic Moral Hazard.
As you will see after reading the documents linked above, the ramifications of ignoring the fraud created by Institutionalized Systemic Moral Hazard, are extremely problematic and unfortunate in that there are solutions if acted upon quickly. As you know, compound interest ticks by the nano-second.
I am available to discuss, at your convenience.
Best Regards.
M.
Mitchell Vexler, President
Mockingbird Properties
1913 Justin Road, Suite 117
Flower Mound, TX 75028
214-725-9013
