OBAMA'S CRONY BANKSTERS DESTROYED THE HOME VALUES OF MILLIONS OF AMERICANS.... WHILE OBAMA SUCKED IN THE BRIBES!
“As president, Obama not only funneled trillions of dollars to the banks, he saw to it that not a single leading Wall Street executive faced prosecution for the orgy of speculation and swindling that led to the financial collapse and Great Recession, and he personally intervened to block legislation capping executive pay at bailed-out firms.”
AMERICA THE HOME OF THE HOMELESS:
OBAMA-CLINTONOMICS AT WORK!
"The decline in homeownership is one sign of the deep
social
crisis in the United States. As rents and housing costs have
soared,
spurred on by financial speculation that has
enriched the ruling
elites, incomes and jobs for
most Americans have shriveled."
AMERICA'S ROAD TO REVOLUTION
“Our entire crony
capitalist system, Democrat and Republican alike, has become a kleptocracy
approaching par with third-world hell-holes. This is the way a great
country is raided by its elite.” ---- Karen McQuillan THE AMERICAN THINKER.com
THE DEMOCRAT PARTY:
HELL BENT ON FINISHING OFF THE AMERICAN WORKER!
"At one point she
hailed the “record profits” of
the auto companies. She did not mention that
these profits came at the expense of the jobs,
wages and retirement benefits of
thousands of
auto workers, decimated under the terms of
the auto bailout
organized by the Obama
administration."
Detroit housing crisis deepens with county tax foreclosure auction
Detroit housing crisis deepens with county tax foreclosure auction
By Debra Watson
23 November 2016
Thousands of Detroit and Wayne County residents fear
eviction in the coming months in what could be one of the
biggest dislocations of low-income residents to result from the
Wayne County treasurer’s yearly tax auction. The latest tax
auction started only weeks after Wayne County Circuit Chief
Judge Robert Colombo Jr. ruled in September on a lawsuit
the American Civil Liberties Union filed in July against the
county. The ACLU lost its bid for a moratorium on tax
foreclosures on owner-occupied homes in Detroit.
The ACLU sued on behalf of several owner-occupiers and neighborhood associations in Wayne County’s largest city, Detroit, and was joined by the NAACP Legal Defense Fund. The plaintiffs framed the case primarily as racial discrimination related to the federal Fair Housing Act (FHA).
Underlying the case brought against the Wayne County Treasurer’s office was Detroit’s illegal over-assessment of taxes underlying each plaintiff’s tax debt. While Detroit Mayor Mike Duggan has acknowledged the city overcharged residents, his Corporation Counsel Melvin “Butch” Hollowell, invoked the terms of the Detroit bankruptcy to reject the claims and support the county in the suit.
The plan of adjustment was enacted in 2014 as the culmination of the Detroit bankruptcy conspiracy. Enacted with the collaboration of the unions, the Obama administration, bond holders, the banks and the courts, it was used to legitimatize attacks on city workers, privatization of city services, and the illegal looting of pensions of Detroit city workers and retirees.
BLOG: DON'T EXPECT THE OBOMB TO
HELP! HE HELPS ONLY CRONY
BANKSTERS, WALL STREET'S BIGGEST
LOOTERS AND MUSLIM DICTATORSHIP!
The scale of home foreclosures in the city is
staggering. According to the Michigan State
Housing Development Authority, one in every
275 housing units faced mortgage foreclosure
in Detroit during the first quarter of 2009, one
of the highest rates in the US. Since 2005,
more than one in three Detroit properties—
139,699 of 384,672—have been foreclosed
either because of mortgage arrears or property
tax delinquency.
The 2016 County tax auction was completed at the end of October. Over 14,000 properties were offered for sale. In the first round of tax sales in September only 400 bidders participated and only about 1,000 properties were sold. The county attempted to sell off the remainder in October with lower minimum bids and property tax waivers.
Evictions would leave 2,000 owner-occupiers and 6,000 renters with few, if any, options for housing. According to the Urban Institute, between 2000 and 2013 affordable housing units for Extremely Low Income (ELI) renters in Wayne County were cut almost in half, from about 48,000 units to about 24,500.
Detroit is now the poorest big city in the US and suffers from the precipitous decline in affordable housing occurring nationwide. From 2000 to 2013 the share of housing units available to ELI renters declined nationwide, from 37 per 100 to just 28 per 100 families searching for a place to live. The Urban Institute notes that the decline in affordable housing is primarily the result of losing unassisted affordable units. This is consistent with the loss of cheaper private market housing such as the single family homes in Detroit that are being pulled down apace. Some 39.8 percent of households in Detroit fall below the poverty threshold, that is families of three making $20,000 annually and individuals making under about $12,000.
The median income in Detroit is abysmally low, just over $26,000 annually per family—half the US median income. These families look to affordable housing to offset their low-income status. While the ACLU case was filed on behalf of owner-occupiers, renters are affected if their landlord is foreclosed on. Over more than a decade, landlords have bought up whole swathes of single-family homes in Detroit, once owner-occupied, and then milked desperate tenants for rent. As a result the number of neglected properties and blighted neighborhoods is legion.
Millions in back taxes owed by rich scofflaws for blight and back taxes went unpaid for years while the speculators did their dirty work. Crain’s Detroit Business reported last month that Detroit finally filed nearly 600 lawsuits seeking a total of $12.2 million in blight violation fines and unpaid property taxes by large landowners stemming from properties sold in the 2013 Wayne County tax foreclosure auction.
Their list of blight violators includes many of the biggest national and international banks such as Deutsche Bank, $495,803.50, Wells Fargo Bank, $302,534.50, J.P. Morgan Chase: $210,190.
Dan Gilbert, billionaire owner of Quicken Loans, is said to have 60 office buildings downtown now in his empire of real estate bought on the cheap. For his part, Gilbert is asking the Detroit City Council for waivers from requiring that his housing properties that receive tax abatements contain “affordable” units. He wants to segregate “low-income” apartments built as part of any tax abatements granted away from units he builds to house the wealthy.
Even most of the low-income rents related to Michigan tax abatement building programs are beyond the reach of current city residents. ELI renters are often priced out of developer-friendly tax abatement programs where $700 or more of the rental price eats up most of the monthly income of the many retirees, disabled, and minimum-wage and part-time workers in this group.
The judge in the ACLU case allowed a portion of the case to go forward, and negotiations on streamlining assistance programs are expected. There should be no illusions that the housing crisis and abject poverty that have led to a growth of homelessness in the US will be resolved in the courts or in deals with politicians beholden to big property interests.
The organization Detroit Eviction Defense, an affiliate of Moratorium Now, founded by the pseudo-left Workers World Party, has played a role in creating illusions in the courts as a venue to fight foreclosures and evictions. During the Detroit bankruptcy they covered up for the Democratic Party by claiming the source of the Detroit housing crisis was racism. This simply ignores the fact that a series of African American mayors and city council members have presided for decades over the social disaster in Detroit.
The World Socialist Web Site spoke to Ronda, who lost her family home in Detroit. She said: “I lost my home and never knew anything about it until this guy came knocking on my door and said ‘can I take some pictures?’ And I said pictures of what? He said your home has been foreclosed. I told him I didn’t know anything about the foreclosure—no one ever told me about it. I was on a payment plan. Though the value of the house went down, my yearly taxes actually went up.
“All this happened at the time I was drawing disability because I had been injured in a head-on car collision. I worked for the State of Michigan and Henry Ford hospital for a total of 18 years. For a long time I had kept up with the payment plan I got on the house.
“I went to the Department of Social Services to get help with the back taxes, the taxes that my uncle had owed. They could never find anything to get it out of his name so the taxes started to build up. The house had been in our family for three generations, since my great-uncle bought it. Some time after he passed, it went to me.
“The highest tax bill I received during this whole situation was $4,000. DHS paid a thousand and I paid some of it. Then I was making payments, like maybe two hundred a month. When, at the suggestion of the city inspector who came to the house, I went to renew the hardship, they denied me the hardship.
“I say they denied me because to renew the hardship you have to pay half the back taxes. They did not extend my payment plan, but instead demanded that I come up with half the balance due before they would re-establish the hardship. Why would they do this?
“I watched the house online for awhile to see if I should try to get it back. The person from out of town who bought up all these houses was going out and reselling them for more than the back taxes owed. I was checking it everyday and saw the back taxes had gone down to $1,000, but then they went back up because obviously the person who owned it was not paying them.”
AMERICA’S TWISTED ROAD TO
REVOLUTION:
Fighting back Wall Street’s
Looting and Rule
http://mexicanoccupation.blogspot.com/2016/09/america-nation-ruled-wall-streets.html
OBAMA-CLINTONOMICS:
THE FINAL TRANSFER OF AMERICA’ ECONOMY TO THE SUPER RICH!
http://mexicanoccupation.blogspot.com/2016/09/barack-obama-and-his-crony-bankstershow.html
Under Obama-Clintonomics, the rich became VERY rich
and we got the tax bills for their bailouts and crimes!
IT WORKS! BUT ONLY FOR THE SUPER RICH!!!
"The same period has
seen a massive growth of social inequality, with income and wealth concentrated
at the very top of American society to an extent not seen since the
1920s."
"He (Trump) is able to get a
hearing because millions of people are being driven into
economic insecurity and poverty while the rich and
the super-rich continue to amass obscene levels
of wealth. He is able with some success to divert mass discontent
along reactionary nationalist and racialist channels precisely
because what passes for the “left” in American politics,
anchor by the Democratic Party, has moved ever further
to the right, culminating in the Obama administration which
has presided over endless war and an unprecedented redistribution of
wealth from the bottom to the top of the economic ladder."
"The decline in homeownership is one sign of the deep
social crisis in the United States. As rents and housing costs have
soared, spurred on by financial speculation that has enriched the
ruling elites, incomes and jobs for most Americans have shriveled."
SOARING POVERTY AND DRUG ADDICTION UNDER OBAMA
"These figures present a scathing indictment
of the social order that prevails in America, the world’s wealthiest country,
whose government proclaims itself to be the globe’s leading democracy. They are
just one manifestation of the human toll taken by the vast and all-pervasive
inequality and mass poverty
OBAMA-CLINTONOMICS TO SERVE THE SUPER RICH:
The slow and painful death of America that
dominates American society."
THE OBAMA SOLUTION TO END
WHITE CHRISTIAN AMERICA:
DRUG ADDICTION!!!
MEXICO: AMERICA’S DRUG
DEALER!
http://mexicanoccupation.blogspot.com/2016/08/obama-clintonomics-their-crony.html
“This study follows
reports released over the past several months documenting rising mortality
rates among US workers due to drug addiction and suicide, high rates of infant
mortality, an overall leveling off of life expectancy, and a growing gap
between the life expectancy of the bottom rung of income earners compared to
those at the top.”
Wikileaks exposed!
BARACK OBAMA AND THE GOLDEN AGE OF CRONY BANKSTER LOOTING…. And not one
went to prison!
FOR 8 YEARS BARACK OBAMA’S BANKSTER CRONIES AT CITIGROUP RULED AMERICA’S
ECONOMY AND LOOTED IT INTO A DEPRESSION
“Citigroup’s
recommendations came just three days after then-President George W.
Bush signed into law the Troubled Asset Relief Program, which
allocated $700 billion in taxpayer money to rescue the largest
Wall Street banks. The single biggest beneficiary was Citigroup,
which was given $45 billion in cash in the form of a government
stock purchase, plus a $306 billion government guarantee to back up
its worthless mortgage-related assets.”
MUCH MORE HERE:
“As president, Obama not
only funneled trillions of dollars to the banks, he saw to it that not a
single leading Wall Street executive faced prosecution for the orgy of speculation and
swindling that led to the financial collapse and Great Recession, and
he personally intervened to block legislation capping executive pay at bailed-out
firms.”
“So
when Clinton was hobnobbing with Goldman Sachs CEO Blankfein in 2013,
while investigations of wrongdoing by Goldman and the other
Wall Street banks were still ongoing, she was consorting with a man
who belonged in prison.”
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