Below is the full fact sheet of the Obama housing plan from whitehouse.gov. In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, [...]
January 25, 2012
Thank God Kamala Harris has the balls to stand up to the Obama administration and actually put the peoples’ interests ahead of the big banks. The $25 billion bailout was just a cheap ticket to legal immunity that never would have done anything for borrowers except strip them of their ability to fight back. The [...]
January 25, 2012
Via The Street: Analysts reacting to the announcement are also calling the plan “dead on arrival.” FBR Capital analyst Edward Mills said in a note Wednesday morning that the plan was unlikely to get congressional approval, “as Congressional Republicans are opposed to additional intervention in the mortgage market and are philosophically opposed to a bank [...]
January 23, 2012
Outrage of The Day… via Obama to Use Pension Funds of Ordinary Americans to Pay for Bank Mortgage “Settlement” « naked capitalism. Obama’s latest housing market chicanery should come as no surprise. As we discuss below, he will use the State of the Union address to announce a mortgage “settlement” by Federal regulators, and at [...]
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February 1, 2012
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