TV News LIES

Sunday, Dec 21st

Last update09:08:36 PM GMT

You are here News Economy Congress Giving Millions of Foreclosed Homes To Wall Street Slumlords

Congress Giving Millions of Foreclosed Homes To Wall Street Slumlords

E-mail Print PDF

Great news, everybody: After deliberately failing to help millions of American families stuck in vulture mortgages, the U.S. government is now giving those foreclosed homes to Wall Street for pennies on the dollar so that Wall Street can then rent the now-vacant foreclosures back to the same people pushed out during the Wall Street-caused housing bubble collapse. Wall Street stands to make an immense profit by becoming, overnight, the “largest improved real-estate owners in the world.” Who says capitalism doesn’t work, with a little help from the government by taking away the property of the working class and giving it to billionaires who pay no taxes? Who says that?

The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds.

These homes, which are now the property of the U.S. government, the U.S. taxpayer, and U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value. You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.

In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates.

More...


Most Recent Related Stories...


Inequality Between America's Rich and Poor Is at a 30-Year High

economic inequality at 30 yr. highThere are many ways to compare finances, but perhaps a more holistic measure of financial health...

US adds 321,000 jobs, the most in nearly 3 years

unemploymentU.S. employers added 321,000 jobs in November, the biggest burst of hiring in nearly three years...

More Sears and Kmart closings than first announced

Sears closingsSears Holdings, the parent company to Sears and Kmart, announced it will close another 235 stores...

How Executive Ended Up With $196 Million in an IRA

IRA investmentCorporate and private-equity executives can accumulate millions of dollars in tax-favored retirement accounts, taking advantage of...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!