Saturday, June 04, 2011

Spending Your Money To Get Re-Elected: Obama To Throw More Money at Struggling Homeowners

It's funny. I never hear Obama and the left decry the lack of "affordable housing" any more. They're the ones that nearly collapsed the economy with Fannie Mae and Freddie Mac so they probably don't want to remind people. But Obama is desperate now and realizes his term in office may not last past January 20, 2013, so it's time for some payola.
The Obama administration wants to help more struggling Americans stay in their homes by reducing the amount they owe on their troubled mortgages, a top Treasury official said on Saturday.

"We are very definitely trying to facilitate more principal reductions," said Timothy Massad, Treasury's acting assistant secretary for financial stability. "It is a very important piece of the overall solution," he said.

The administration is trying through taxpayer-funded programs to prevent homeowners from losing their homes. Nearly $50 billion has been set aside from the $700 billion bank bailout known as the Troubled Asset Relief Program, or TARP, to help distressed homeowners.
In a truly stunning development, Reuters admits a stark reality the media has studiously avoided the past couple of years.
Persistently high unemployment and a weak housing market pose a threat to President Barack Obama's re-election prospects next year.
Uh oh. They're actually hinting The One might not be re-elected.

Obama's really going to be dipping into the stash the next 17 months.

I wonder if this one is getting paid?


Eli said...

Roughly 10 years ago I was looking to immigrate to the US from Canada.  I really enjoyed the chance to roll in money.  Move a head a few years, I'm sure glad I didn't.  Then again, if I'd been faced with idiots like that in the video.  I think I would have repeatedly punched them in the face.  Either that or have invented a new form of liquid shit that could be injected right into the idiots veins so everyone would know how much of a stinking shithead they were.

el polacko said...

what about idiots like me who actually paid off their mortgage ? will we be getting a rebate ?

el polacko said...

i do wish that somebody would track down this peggy joseph from the video and find out how that free house and car thing has worked out for her.