This makes me ill. The very people who should be sitting in prison for a very long time for massive conspiracy to commit fraud, that resulted in the 2008 meltdown, and the real estate crash with it, those very people who took billions in bailouts, will now be allowed to buy those houses from the Fed government (me and you).
We will get get pennies on the dollars. They will get market rate rents, and a man who has proven who many suspected all along to be very evil, Warren Buffett, is in line to pick up a couple of hundred thousand houses.
President Obama, who likes to inveigh against Wall Street (while taking record sums of Wall Street cash as campaign contributions), is on board with the plan. “The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, are very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials,” Diana Olick reported for CNBC on January 9, 2012, in a piece entitled “White House wants to convert foreclosed houses to rentals.”
If you got jammed up and could only afford to make payments $1000 a month instead of $2000 a month, you were foreclosed. It would work this way, you will rent your home from Buffett for $1000 a month. And he is paying $250 a month. Kaching! Why not let you buy it for $250 a month?
When there is no rational limit on abusing the taxpayers, it in no way will ever be limited.
“A pilot sales program will be starting in the very near future, according to administration officials,” Olick reported. “They are working on what the market potential is, what pricing would be, how government can partner with private investors, and who has the operational experience to manage so many properties.”
There is a means to sort this out. We once had it, it was called the rule of law. Bankruptcy for the banks. Adverse possession on the part of squatters. But the rule of law is over in the USA. The lawyers, the bankers, the clergy, the academics, bureaucrats, military, medicine, labor, they have all been bought and paid for. There is no loyal opposition. It is all "get me some." Murder. Spying. Confiscation. War. Smaller portions, same price. Shortages happening.
Obama is there to front the thieves and in time Hillary will come and "save the day." Until people realize things are not better.
Hunker down, get a business going.
Feel free to forward this by email to three of your friends.
We will get get pennies on the dollars. They will get market rate rents, and a man who has proven who many suspected all along to be very evil, Warren Buffett, is in line to pick up a couple of hundred thousand houses.
President Obama, who likes to inveigh against Wall Street (while taking record sums of Wall Street cash as campaign contributions), is on board with the plan. “The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, are very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials,” Diana Olick reported for CNBC on January 9, 2012, in a piece entitled “White House wants to convert foreclosed houses to rentals.”
If you got jammed up and could only afford to make payments $1000 a month instead of $2000 a month, you were foreclosed. It would work this way, you will rent your home from Buffett for $1000 a month. And he is paying $250 a month. Kaching! Why not let you buy it for $250 a month?
When there is no rational limit on abusing the taxpayers, it in no way will ever be limited.
“A pilot sales program will be starting in the very near future, according to administration officials,” Olick reported. “They are working on what the market potential is, what pricing would be, how government can partner with private investors, and who has the operational experience to manage so many properties.”
Why not let single owners manage single properties?
In his original August 2011 RealMoney article, Roger Arnold wrote:
These M&M companies are principally owned by and employ former high-ranking government officials from the various germane agencies — the Treasury, HUD, FHA and others. And they will provide the necessary access to the current government employees who are tasked with bringing this program to fruition. Once the privatization is complete, those government employees will move from their positions, and many will take up new employment at one of the M&Ms or the new vulture funds.
The FHFA’s plan for bulk REO sales will open up vast new vistas for federal officials and bureaucrats to strike special sweetheart deals with Wall Street partners, with lucrative payoffs as they transition from “public service” to private-sector management.
There is a means to sort this out. We once had it, it was called the rule of law. Bankruptcy for the banks. Adverse possession on the part of squatters. But the rule of law is over in the USA. The lawyers, the bankers, the clergy, the academics, bureaucrats, military, medicine, labor, they have all been bought and paid for. There is no loyal opposition. It is all "get me some." Murder. Spying. Confiscation. War. Smaller portions, same price. Shortages happening.
Obama is there to front the thieves and in time Hillary will come and "save the day." Until people realize things are not better.
Hunker down, get a business going.
Feel free to forward this by email to three of your friends.
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