User Tag List

Results 1 to 10 of 12

Thread: Housing Bargains Available but Only for the Banks

Threaded View

  1. #1
    Original Ranter
    Points: 112,719, Level: 81
    Level completed: 69%, Points required for next Level: 931
    Overall activity: 0.1%
    Achievements:
    SocialTagger Second Class50000 Experience PointsYour first GroupVeteran
    Conley's Avatar Senior Member
    Karma
    7413
    Join Date
    Jun 2011
    Posts
    22,473
    Points
    112,719
    Level
    81
    Thanks Given
    4,582
    Thanked 2,511x in 2,019 Posts
    Mentioned
    238 Post(s)
    Tagged
    1 Thread(s)

    Housing Bargains Available but Only for the Banks

    NEW YORK (RealMoney) -- 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, 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(GS_) 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.

    http://www.thestreet.com/story/11224...t-for-you.html

    Another example of how the government has been commandeers by the big banks. It's wealth transfer on a massive scale. >
    This is just like the situation with bond sales and purchases...Goldman Sachs and the others can't help but make money hand over fist when the government is set up this way. They make money on the sale and on the repurchase.

  2. The Following 2 Users Say Thank You to Conley For This Useful Post:

    Peter1469 (11-11-2012),waltky (11-10-2012)

Similar Threads

  1. U.S. to sue big banks over mortgage securities: report
    By wingrider in forum The Latest Happenings
    Replies: 3
    Last Post: 10-24-2012, 07:34 PM
  2. Today Is National Take Your Money Out Of Banks Day
    By jgreer in forum The Latest Happenings
    Replies: 8
    Last Post: 11-08-2011, 06:05 PM
  3. Replies: 10
    Last Post: 10-20-2011, 07:14 PM
  4. States Offer Banks Immunity From Mortagage Lawsuits.....
    By MMC in forum The Latest Happenings
    Replies: 1
    Last Post: 09-08-2011, 10:15 AM
  5. U.S. Government Sues 17 Banks for $200 Million
    By Conley in forum The Latest Happenings
    Replies: 4
    Last Post: 09-04-2011, 11:01 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts