Wednesday, October 20, 2010

READ THIS LOTS OF FRAUD: Business Report - Home - Obama aides: US mortgage woes not 'systemic'

My note: What they DON'T say is very important.. .They say don't say there is not systemic home foreclosure troubles... just that it doesn't threaten US financial stability or investments. ANY THINKING person knows that is hogwash. NOtice they will not tolerate business as usual..... codespeak for "THERE IS A PROBLEM : FIX IT!"

What IS apparrant and one of the news reports late yesterday  (huffington) outlined it... is that the OBAMA Administration does not get the HOUSING and the huge number of foreclosures and current deliquencies as HUGE factors in the slow recovery of the economy.  There have been massive outlays of money that could have bought out American homes 10x over.  YOUR tax dollar could have paid for it all and prevented crimes, job loss, schooling loss, tax revenue loss and job loss.

For wanting to end homelessness (see Donovan june 2010) the White House has a funny way of going about it... spend about 7 billion to fight foreclosures and clean up the aftermath and don't halt foreclosures nor address bank wrongdoing in any meaningful way.  LOL  HAHAHHA so funny my sides are splitting (not). 

Business Report - Home - Obama aides: US mortgage woes not 'systemic': "The Obama administration said it found no sign so far of 'systemic' home foreclosure troubles that threaten US financial stability, or structural problems that could undermine investments linked to mortgages.

But Housing and Urban Development Secretary Shaun Donovan said a four-month probe of big banks' mortgage practices had discovered 'significant variation' in compliance with government rules, and vowed to force changes as needed.

'We will not tolerate business as usual in the mortgage market,' Donovan told reporters on Wednesday, saying the government would demand banks follow rules requiring them to try to keep borrowers in their homes.

Allegations of faulty foreclosure paperwork, and demands that banks buy back billions of dollars in mortgages sold to investors, have raised fears that banks face a new wave of difficulties similar to the 2007-2009 financial crisis."

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