In The Middle Of The Raging Foreclosure Crisis The Biggest Coup By The Rich Is Taking Place
October 10th, 2008
In the middle of the raging foreclosure crisis the biggest coup by the rich is taking place, said Michael Moore. Here no guns are being fired but about 300 million citizens of America are being taken as hostage. There is no doubt about it.
For five year from the time of the boom to the outbreak of the foreclosure virus, trillions of dollars in profits have been lining the pockets of those who gave the cry of war. War is profitable business. Two hundred billion dollars in oil money has filled the coffers of buddies. Bush and company will soon have to move out from White House but before doing so the treasury of the country is being methodically looted of each single dollar they can lay hands on. Silverware is being slipped out by stealth.
Despite pious platitudes and sugary talk about helping foreclosure victims, there is no doubt that the group is up to their old tricks. They are creating fear that leads to confusion. This diverts the attention from the reality of how filthily rich some have become. The main story in New York Times of 22nd September will clarify the real nature of the deal.
Wall Street did not wait for the $700 billion foreclosure related rescue plan to take shape. Already they were devising ways and means of making profit. “Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.” Simultaneously the investment companies were vying with each other to take over supervision of all the assets the treasury will be taking off the books of the rescued institutions. This role will earn for them millions of dollars in annual fees.
It is difficult to believe that although Wall Street created this foreclosure mess it is now they who are going to clean up the sacks of gold like good old bandits.
Even Rudy Giuliani is trying to get his firm hired to be in the thick of this foreclosure rescue plan.
The most interesting thing is that nobody is quite clear about this foreclosure related collapse. Even Paulson admits to this truth. He does not know what the exact requirement is. He just pulled the figure of $700 billion from his magic hat! Meanwhile the departing robbers are firing verbal shots of panic and recession to cover their trail.
- Poorest Localities in Sacramento County Hardest Hit by Foreclosures
- The Process of Slowing Down Foreclosures
- Funeral Home Not Spared Foreclosure Eviction
- Speculation By Investors Largely Cause Of Foreclosure Crisis
- Uneven Impact of the Foreclosure Crisis
- Foreclosures Increase in Third Quarter While House Prices Fall Further
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October 14th, 2008 at 12:09 pm
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