Posted on 08/06/2013 5:49:17 AM PDT by Olog-hai
I want a mortgage like obamas
paid by someone else
“Obama will also insist that popular 30-year mortgages be widely available to borrowers, even in a system that would rely more on the private sector than the government to guarantee loans. “
All you need is sufficient income and collateral, and just about any loan would be assured for just about any borrower.
If it goes beyond that, we’re talking about redistribution.
Then again, the banks are getting “free money” from the government so Obama gets to dictate who they “loan” it to.
The new “Financial Three-legged Stool” is “Disability->EBT Card->Section 8 voucher”
Bankers get rewarded, and Holder's People get handouts....
Next........
“What could go wrong with Obama’s idea of moving mortgage guarantees into private hands. On the surface a good idea but any time this socialist proposes something that looks like it is private enterprise based, I know there is a downside.”
While I’d like to see the government out of Fannie & Freddie (and Sallie, et al), I’m sure Obama’s plan for doing so somehow involves saddling the taxpayers with the huge debts and worthless assets of those corporations.
It’s the Chicago way!
Unknown. This action was news to me.
*moved into private hands, with the proviso that they are not allowed to say “no” to anyone...
Does this POS ever, I mean EVER, stay in Washington and do his job? I know, rhetorical question to which I already know the answer.
"President Barack Obama is proposing to overhaul the nation’s mortgage finance system, including shutting down government-backed Fannie Mae and Freddie Mac—a plan with bipartisan support on Capitol Hill.
Obama will also insist that popular 30-year mortgages be widely available to borrowers, even in a system that would rely more on the private sector than the government to guarantee loans.
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Hmmm...???
President Obama Comes Out for Subsidizing Mortgage Backed Securities
Obama’s “Old Deal” Housing Speech: Save The 30 Year Mortgage (As 7 Out 8 Jobs Created Are Part-time)
Obama to urge Congress in speech to shutter Fannie Mae and Freddie Mac
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The above articles came out BEFORE Obama's speech. These since:
Housing Policy: 70% Of Jobs Created Were Part-time And Obama Wants 40 Million MORE Low-wage Workers
Obama Calls for Mortgage Overhaul, Closing Fannie and Freddie
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LIZ: Don't mean to be redundant, but this looks awfully suspicious to me. Any upside for us taxpayers? or is this meant to make more toxic debt disappear down the nonexistent drain?
As FReeper GOPJ insightfully posted: "To argue that this figure, with his third-world sense of political responsibility and his Chicago-honed ethics, would not abuse any possible resource he could get his hands on simply beggars credulity. One of his former political partners, now residing in a federal jail cell, got caught on tape referring to O's vacant senatorship as a 'valuable f*ckin' t'ing' he would not just giveaway. Obama found a lot of "valuable f*ckin' t'ings" when he got to Washington......."
OFFSHORE WIRE TRANSFER ALERT: Obama says it’s time to ‘turn the page’ on Fannie and Freddie MarketWatch | 7/24/13 | MarketWatch / FR Posted by illiac
President Barack Obama on Wednesday, in his speech on the U.S. economy, spelled out the beginning of the end for federally controlled mortgage buyers Fannie Mae and Freddie Mac. “We’ll work with both parties to turn the page on Fannie and Freddie, and build a housing finance system that’s rock-solid for future generations,” Obama said, according to a copy of his prepared remarks
The House Financial Services Committee approved a bill on Tuesday that would get rid of the firms in five years, to be replaced by a National Mortgage Market Utility to help securitize mortgages.(Excerpt) Read more at blogs.marketwatch.com
ADDENDUM---what Obama left out of his remarks Wall Street Journal report on page A15---article entitled “Treasury’s Fannie Mae Heist“.
The Federal government is seizing the substantial profits of the government-chartered mortgage firms, Fannie Mae and Freddie Mac, taking for itself the property and potential gains of private investors the government induced to help prop up these companies. This conduct is intolerable.” A scathing article follows.
The Chi/mob setup the looting MO from the getgo: Soon as they occupied the WH, Obama and the Chicago con artists (a) took control of the US Census; (b) Obama placed his COS Rahm Emanuel in control of the US Dept of the Treasury (the IRS). Read on.
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THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move.
When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings of the Treasury that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials. Reported by WSJ / 05/31/09
More here: http://online.wsj.com/article/SB124113406528875137.html
NOTE: That also involved the notorious IRS targeting.
What the campaign means is he has stolen all the money available from the two and it is time to move on to more lucrative targets.
Elliot Spitzer died for Fannie Mae and Freddie Mac
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