— Possibly the largest transfer of wealth from the public to private sector in human history, 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.
(Private citizens are excluded from the sales. You lose.)
These homes, which are now the property of the U.S. government, which means U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.
(The “private investor conglomerates” will include Goldman Sachs and Wall Street partners and their various ‘shell corporations, LLCs, Management & Marketing companies, Real Estate Investment Trusts REITs, all generallly known as Vulture Funds.)
High ranking Federal employees of FHA, HUD, FNMA FHFA, FHLMC, will become the designated managers, granted essentially ‘inside information’ and control of many of the ‘Marketing and Management Companies which will be formed to acquire these properties at deep discounts from their already depressed values.
The Press and Federal Government will characterize the Billion Dollar transactions as – efforts to ‘stabilize neighborhoods and increase affordable housing and rentals for the children, the economically displaced and less fortunate.’
Translation – the Vulture Funds and foreign Bottom Feeders, will receive favorable below market pricing and financing on the houses, apartments and condos of US citizens, then the Vultures will rent this ‘US property’ back to American citizens at market rates and keep all the income and profits.
US citizens will be ripped off again and this time, the very land under their feet will be stolen and owned by Banks, Wall Street and foreign financiers. Our congressmen, Senators and President are already practicing the story.
They will tell us they fought hard to develop, write and negotiate these ‘programs’ and ‘deals.’ The truth is that Wall Street firms and Vulture investors wrote these programs and rules 3 years ago and they’ve been waiting since 2008 to get their hands on all this land.
Now the financiers are lobbying and bribing congress to seal the deal. All that’s left to be done is the propaganda campaign to ‘save the children’s homes.’ If you fell for, “too big to fail,” you’ll love the, “housing rescue.”
(paraphrased from RealMoney)