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NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT

"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Friday, February 10, 2012

The Crooked Obama Foreclosure Deal



A Bi-Partisan Cover-Up  -  A Crooked Shell Game of Lies using taxpayer money
  • The government and Federal Reserve give billions of dollars to the banks . . . . take a guess what money the banks use to pay the "fines" charged to them for home loan fraud.
  • Billions in home loan fraud and not one person goes to jail.  But if you rob a liquor store of $200 you can kiss your ass good-bye.
  • A massive bi-partisan cover-up to protect corrupt members of Congress and the Wall Street Elites.


One Giant Clusterfuck of Corruption

By Gary;

The government authorities and five of the nation’s biggest banks announced that they have cut a phony "deal" regarding the countless billions of dollars in crooked home loans that brought the economy to it's knees and caused millions of home foreclosures.

The government and banks agreed to a tiny $26 billion settlement that would look good on the TV evening news.  No reporter was bright enough to point out that the banks are paying the "fines" with billions being given to them by the government and the Federal Reserve.

To bottom line it, there would be no out of pocket cost to the banks. . . no one goes to jail for loan fraud . . . and everyone can pretend for TV that they are helping homeowners down on their luck.

Pure 100% Bullshit.

The banks are paying their "fines" with money given to them by the government.

Crony-Capitalism

Follow the money trail.

Step #1)  The Feds give the banks billions in tax dollars or phony Monopoly money freshly printed by the Federal Reserve to cover their business losses, pay any fines and help in home loan modifications.

Step #2)  The government money used for home loan modifications and short pays is effectively "laundered" through the homeowner to make the government and banks look better on the evening news.  In reality, the money is given to cover the business losses of the banks.  Statistics show that most homeowners who do the loan modifications end up in foreclosure anyway.

Step #3)  The bank then goes on it's merry way with buckets of government money and not one crooked bastard at the bank is charged with any loan fraud crime.


Homeowners are at fault.  Let's face it, no one put a gun to a home buyer's head and made him buy an overpriced house with a crooked loan he knew he could not afford.  People were greedy and/or fucking stupid not to know what they were signing. 

You are responsible for your own actions. . . . unless you live in the new United Socialist States of America.  Under American Socialism you don't have to worry. 

The government will bail you out (with other people's money) if your industry has bribed enough Congressmen.  If you are a little guy there are billions in printing press money floating around to lower your house payment or bail you out of your bad financial decisions.  Only idiots pay their bills.

Here are samples of the free goodies the Feds are giving out:

  • For California, which has the highest number of properties in the foreclosure pipeline, banks agreed to pay $12 billion to help 250,000 homeowners with principal reductions or short sales, when a lender agrees to a sale for less than owed on the home.
  • Borrowers in Florida, the state with the second-most foreclosures, will receive an estimated $7.6 billion in benefits from loan modifications, including principal reduction.
  • Home owners in trouble will cash in and get as much as $35,000 in “relocation” incentives.  Translation - owners are being paid money to move out of their own home.  (Bloomberg News)

Under the plan, federal officials said, about $5 billion would be cash payments to states and federal authorities, $17 billion would be earmarked for homeowner relief, roughly $3 billion would go for refinancing and a final $1 billion would be paid to the Federal Housing Administration. If nine other major mortgage servicers join the pact, a possibility that is now under discussion with the government, the total package could rise to $30 billion.

Money for everyone.  The snouts are deep in the trough.
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(New York Times)


Foreclosure Cover-Up or The Great MERS Whitewash Bill





The Marxist Re-Distribution of Wealth. . . . to the Rich 
By order of Congress money is taken from the taxpayers and re-distributed to multi-national corporations in a corrupt orgy of crony capitalism.  Key members of Congress are virtually on the payroll of banks and the insurance industry through millions in campaign contributions and secret low interest home loans.

The Banking Meltdown and current Depression was on the GOP watch.

- - - For eight years the executive branch under Bush did next to zero oversight on the banking and insurance industries.

- - - The Republican controlled Senate did zero in oversight on the systematic loan fraud.

- - - The Republican controlled House did zero in oversight on the systematic loan fraud.

Democrats don't get off.  As the minority party in Congress they also did nothing about the loan fraud.  When Democrats took over in 2007 their only goal was to keep the corruption quiet.  Members of both parties were shoulder deep in corrupt campaign money from the banking and insurance industries to make sure Congress looked the other way and never asked any hard questions. 


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