The largest transfer of wealth from the public to private sector is about to begin

[Capt Bringdown]

A Huge Housing Bargain -- but Not for You (http://www.thestreet.com/story/11224917/1/a-huge-housing-bargain--but-not-for-you.html)


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.

Even before this crisis occurred, HUD, i.e. the U.S. government, was the largest improved real estate owner in the world, because of its portfolio of foreclosed homes, which is classified as "real estate owned" (REO). The entire massive HUD REO Portfolio is quietly managed by a handful of private firms already, a group listed as Management and Marketing Contractors.

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.

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.
-- more -- (http://www.thestreet.com/story/11224917/1/a-huge-housing-bargain--but-not-for-you.html)

[ChuckD]

Don't worry. It'll eventually trickle down. They promised.

[Wild Cobra]

When will people learn to vote for politicians who have integrity?

[ElNono]

Who ordered to bail out those guys again?

lol politicians with integrity

[Capt Bringdown]

As intended, the mass media are playing their part in classic style. Every major newspaper in the U.S. has run articles discussing the plan as a rental conversion, allowing readers to assume that Fannie, Freddie and HUD will be renting the properties directly to families who need housing. And although there is an allowance for these kinds of rentals, it is a minor political facade to the obvious true goal of bulk-sale privatization of these homes.

Oligarchy

[greyforest]

politicians who have integrity

You are making less sense than ever, WC

[boutons_deux]

"politicians who have integrity"

There won't ever be enough to get into politics, and then get elected, to make any difference in actual Congressional bills and votes. That's the system.

Politics is a job, and politicians work hard, for various "employers", to pocket the maximum cash and perks.

wonderful example: the take-back-America-The-Beautiful, "pure" tea bagger politicians are all now on the take from UCA and capitalists, and are agitating for zero UCA taxes and zero capital gains tax and zero regulation (kill EPA, etc).

And there's nothing any Human-Americans can do about it.

[Agloco]

When will people learn to vote for politicians who have integrity?

Somewhat resembles an oxymoron tbh.

LOL integrity.

[DarrinS]

The private sector is THE source of all wealth.

[Th'Pusher]

The private sector is THE source of all wealth.

The wealth being referred to in this thread is currently held by the public sector and the discussion is where/how the public sector sees a return on their investment.

[boutons_deux]

"The private sector is THE source of all wealth."

America ain't broke. It's extremely wealthy but VRWC's government policies have transferred/concentrated the wealth in the top 5%.

[boutons_deux]

This is a classic example of predatory "shock capitalism" (see Naomi Kline).

The capitalists (mortgage lenders) created the shock to homeowners by suckering them into sub-prime mortgages and 2nd, 3rd mortgages, pocketed the lender's fees, sold the mortgages into the Wall St casino where, eg, Goldman Sacks, packaged them, got them fraudulently rated AAA by the criminal ratings agencies, and fraudulently sold them to investors (capitalists again, very often govt pension plans like CALPERS). Homes were foreclosed into REO hands (lenders and HUD, F&F), where they will be sold back to capitalists as fire-sale prices "for the good of the taxpayers" who were first fucked by the original mortgages.

[Wild Cobra]

Somewhat resembles an oxymoron tbh.

LOL integrity.

That's the problem. No one with integrity wants to get in the ring, especially with the dirty tactics played.

Wish there was a "none of the above" option for all elections. If
none of the above wins," none of the candidates can have that office.

[Wild Cobra]

"The private sector is THE source of all wealth."

America ain't broke. It's extremely wealthy but VRWC's government policies have transferred/concentrated the wealth in the top 5%.
And what has the VLWL policies done for America?

[boutons_deux]

The private sector is THE source of all wealth.

There were no commercial spinoffs from the Apollo program?

No commercial/civilian spinoffs from MIC research

Resetting the American Narrative

The U.S. political climate might change if Americans understood how much the federal government did to create the infrastructure behind many business fortunes, including the Internet and computer technology. That narrative would justify higher taxes on the rich to repay the nation and allow for future R&D

http://consortiumnews.com/2011/09/08/resetting-the-american-narrative/


===================

Government Actions Raised Rural Communities from Depth of Recession


Policies Saved or Created 300,000 Jobs

The USDA directed additional funds at infrastructure and homes, which improved rural quality of life while creating hundreds of thousands of jobs.

The $3.5 billion of funds for the Broadband Initiatives Loan and Grant Program brought high-speed Internet connection to more than 7 million people and created or saved 25,800 jobs.
The $1.4 billion allocated to the Community Facilities Loan and Grant Program paid for the construction or restoration of schools, health care facilities, libraries, and public safety facilities such as police and fire stations, while creating or saving 32,500 jobs.
A total of $3.3 billion went toward the Water and Waste Disposal Loan and Grant Program, which funded 854 projects and improved access to clean drinking water and safe waste disposal for more than 1.7 million people, and simultaneously created or saved 66,000 jobs.
Finally, $11.4 billion went to fund two projects: the Single Family Housing Direct Loan Program and the Single Family Housing Guaranteed Loan Program. Together, they helped 93,000 rural families purchase homes and saved or created 125,000 jobs.

The 300,000 jobs saved or created by the USDA Rural Development programs are impressive but only tell part of the story. These projects that continue to employ rural residents provide work and increase community well-being and quality of life. Every paycheck rural workers receive funnels money back into their local economies, sustaining small businesses and helping other workers remain employed. The effects are far reaching, and the positive impact of these improvements and jobs touches everyone in these communities and will continue to do so for generations.

https://www.google.com/reader/view/?tab=my#stream/feed%2Fhttp%3A%2F%2Fwww.americanprogress.org%2Frss %2Fatom.xml

=========

So there was no wealth created from the above govt spending/research policies?

[boutons_deux]

And what has the VLWL policies done for America?

there is no VLWC. If there were, then the VRWC wouldn't have been able to ram through its self-enriching policies these last 35 years.

progressive policies?

voting rights act

medicare

medicaid

social security

tax payer financed hospitals and clinics that can't turn away the uninsured.

All of FDR's Great Depression stimulus projects

etc, etc, etc.

[Wild Cobra]

LOL...

Keep a blind eye.