OBAMA’S
HOUSING CON-JOB… IT’S ALWAYS
ABOUT WALL STREET.. HOW HE CAN SERVICE
HIS
BANKSTER DONORS, THE 1% AND LA RAZA
ILLEGALS.
As with
all other initiatives Obama has undertaken, from
healthcare, to immigration, to
education “reform,” the basic
parameters of his policies have been tailored to
suit the
interests of Wall Street and big business, while couched in
the
language of helping the “middle class,” combating
inequality, and creating
jobs.
OBAMA’S INCEST WITH BIG BANKSTERS CONTINUES… WHO’D A THOUGHT???
With his faith in government and
coziness with big business, Watt personifies Obamanomics.
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Big
government and big banks -- Watt is the perfect fit for Fannie, Freddie, and
Obama.
Obama’s housing program: A windfall
for Wall Street
By
Nick Barrickman and Andre Damon
8 August 2013
8 August 2013
US
President Barack Obama spoke Tuesday at a high school in Phoenix, Arizona,
where he outlined a series of proposals that would lead to a windfall for
mortgage lenders, in the name of a “better bargain for the middle class.” Obama
called for the elimination of Fanny Mae and Freddie Mac, the government-backed
mortgage lenders.
The
proposal to eliminate the mortgage lenders represents yet another concession to
the demands of Wall Street and the Republican right, which have for decades
derided Fannie and Freddie as impinging on the “free market,” and blamed them,
as a proxy for government intervention in the private economy, for the 2008
financial crash.
Obama
said that his proposal would “end Fannie and Freddie as we know them,” adding
that, “For too long, these companies were allowed to make big profits buying
mortgages, knowing that if their bets went bad, taxpayers would be left holding
the bag. It was ‘heads we win, tails you lose.’ And it was wrong.”
Obama
said, “I believe that our housing system should operate where there’s a limited
government role and private lending should be the backbone of the housing
market,” adding “I know that sounds confusing to folks who call me a
socialist.”
The call
for eliminating Fannie Mae and Freddie Mac is entirely of a piece with every
other action taken by the Obama Administration in response to the housing
crisis, which has been aimed entirely at expanding the profits of the Wall
Street financial institutions responsible for the 2008 crash.
The US
home ownership rate hit its lowest level in nearly eight years in 2003,
according to a report released in June by the Harvard University Center for
Housing Studies.
In his
speech, Obama presented a fraudulent overview of his administration’s record on
the housing crisis, seeking to present his policies as aiming to “foster
homeownership” and protect the “middle class.” Obama said that, “less than a
month after I took office, I came here to Arizona and laid out steps to
stabilize the housing market and help responsible homeowners get back on their
feet” through a program which “helped millions of Americans save an average of
$3,000 each year by refinancing at lower rates.”
Obama was
referring to the Home Affordable Modification Program, which the White House
initially claimed would help up to four million families avoid foreclosure. In
fact, less than half a million people received permanent modifications to their
mortgages as a result of the program, half of whom were still expected to
default.
Neil
Barofsky, the former Special Inspector-General for the Troubled Asset Relief
Program (SIGTARP) described Obama’s mortgage modification program as a
“failure,” which left home-owners in a “far worse place than they would have
been had this program not existed.”
Barofsky
characterized the program in his book, Bailout: An Inside Account of How
Washington Abandoned Main Street While Rescuing Wall Street, as follows:
“[Treasury Secretary Timothy] Geithner apparently looked at HAMP as an aid to
the banks, keeping the full flush of foreclosures from hitting the financial
system all at the same time.” At one point, Geithner told Barofsky that the
intended function of the program was to “foam the runway” for the banks in
order to avoid being hit by too many mortgage defaults all at once.
Obama likewise
praised the settlement that his administration mediated last year with the five
largest mortgage lenders, saying, “we worked with states to force big banks to
repay more than $50 billion to more than 1.5 million families—the largest
lending settlement in history.”
The terms
of this mortgage agreement were entirely favorable to the banks, while doing
little or nothing to aid the millions of people who have been devastated by the
collapse of the US housing market. In exchange for the settlement, the banks
were released from liability for their fraudulent activities, including the
widespread illegal practice of “robo-signing,” in which the banks had employees
sign hundreds of thousands of foreclosure documents without any knowledge of
the underlying mortgages.
Wall
Street officials responded positively to Obama’s speech. “Washington has
suddenly come alive on housing finance reform,” David Stevens, president of the
Mortgage Bankers Association, told the New York Times. “We saw nothing
substantive prior to this year, but now we’re in a housing recovery and the
odds have clearly improved given that both the House and Senate have weighed
in.”
As with
all other initiatives Obama has undertaken, from healthcare, to immigration, to
education “reform,” the basic parameters of his policies have been tailored to
suit the interests of Wall Street and big business, while couched in the
language of helping the “middle class,” combating inequality, and creating
jobs.
The legacy of
OBAMANOMICS: Soaring profiteering and crimes by his bankster donors and soaring
foreclosures and unemployment for Americans (legals)
In fact, joblessness is as much
an indicator of the difference in mortality rates as smoking cigarettes.
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OBAMAnomics: his banksters’ profits AND crimes soar.. .so do
foreclosures.
50 MILLION AMERICAN
CAN’T AFFORD ADEQUATE FOOD WHILE MEXICO LOOTS AMERICA BILLIONS AND BILLIONS and
then illegals get all the jobs!
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WEALTH OF MIDDLE
AMERICAN FAILS TO REBUILD AS OBAMA’S BANKSTERS LOOTING CONTINUES
OBAMAnomics through
CRONY CAPITALISM: OBAMA’S CRIMINAL BANKSTERS’ PROFITS and CRIMES SOAR… so do
foreclosures and then illegals get all the jobs!
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AMERICA – NO LEGAL NEED APPLY and GREAT WHERE MEXICO LOOTS FIRST!
THE LA RAZA “THE RACE” WELFARE STATE SPREADS NATIONWIDE FROM MEXIFORNIA
and NEVADA TO ALL AMERICAN STATES
Giving Illegals Access to Welfare
‘An Assault on the U.S. Taxpayer,’ Researcher Says
May 29, 2013
Robert Rector of The Heritage Foundation
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MONEY
GRUBBING KLEPTOMANIAC DIANNE FEINSTEIN, ONE OF THE MOST CORRUPT AND
SELF-SERVING POLITICIANS IN AMERICAN HISTORY,
A COMMENT ABOUT THE WHITE COLLAR CRIME DUAL OF SEN. DIANNE FEINSTEIN AND
RICHARD C. BLUM, MAJOR OBAMA DONORS:
This system is best characterized as a plutocratic kleptocracy,
completely lacking in authentic democracy, operated by and for corporate
racketeers, in short, a dictatorship of big capital, the top 1% of wealth
holders, which makes up a ruling class."
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TWO OF
FEINSTEIN’S BIGGEST DONORS ARE CRIMINAL BANKSTERS WELLS FARGO and BANK of
AMERICA. SHE FRONTS FOR THESE BANKS IN THE SENATE LIKE SHE DOES RED CHINA! BOTH
BANKS ARE AT THE TOP OF THE LIST FOR THE FORECLOSURE DEBACLE THEY ARE NOW
PROFITEERING FROM.
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Read more: http://www.foxnews.com/politics/2009/04/21/sen-feinsteins-husband-cashes-crisis/#ixzz28BwHuQMm
OBAMA’S CRONY CAPITALISM – A NATION
RULED BY CRIMINAL WALL STREET BANKSTERS AND OBAMA DONORS
Culture of
Corruption: Obama and His Team of Tax Cheats, Crooks, and Cronies
by Michelle Malkin
In her shocking new book, Malkin digs deep into the records
of President Obama's staff, revealing corrupt dealings, questionable pasts, and
abuses of power throughout his administration.
Government of, by, and for the banks
25 May 2013
Five years
since the 2008 financial meltdown, the speculation and fraud that caused the
crash are back in full force in the United States. Flush with the $85 billion
in cash printed up and handed to the banks every month by the Federal Reserve,
business at the Wall Street casino is booming. Stock values are at record
levels and so are bank profits, amidst declining wages and mass poverty.
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WALL STREET LOOTERS!
GOOD TIME TO HAND AMNESTY TO 40 MILLION LOOTING MEXICANS AND LET THE DEMS EXPAND THE LA RAZA WELFARE STATE IN OUR BORDERS???
Wall Street profits and the widening social divide in America
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http://mexicanoccupation.blogspot.com/2013/07/crony-capitalism-how-obama-looted.html
17 July 2013
The profits of the biggest US banks continued to swell in the second quarter of this year, even as the impact of five years of mass unemployment, stagnant economic growth and brutal cuts in social spending produced a further rise in poverty, homelessness and hunger.
OBAMANOMICS: BANK
PROFITS and CRIMES SOAR UNDER OBAMA… so do foreclosures!
FORECLOSED ON AMERICA: HOW BARACK OBAMA and HIS CRIMINAL BANKSTERS LOOTED A NATION AND THEN PROFITEERED OFF
THEIR CRIMES
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Sen. Feinstein's Husband
Cashes In on Crisis Ethical? Ethnics never enter into a deal Feinstein is
pushing in Congress! FEINSTEIN IS A MAJOR OBAMA DONOR. SHE MAKES SIGNIFICANT
"CONTRIBUTIONS" TO DEMS ALL OVER THE NATION SO THEY KEEP THEIR MOUTH
SHUT ABOUT HER LOOTING OFF ELECTED OFFICE.
On the day the new Congress convened this year, Sen. Dianne Feinstein introduced legislation to route $25 billion in taxpayer money to a government agency that had just awarded her husband's real estate firm a lucrative contract to sell foreclosed properties at compensation rates higher than the industry norms, the Washington Times reported on Tuesday.
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