Robinhood: STATES in Tights? Federal $1 billion bailout scares me

  ROBINHOOD:  STATES IN 

TIGHTS? 

                  

WASHINGTON (MarketWatch) -- The U.S. Housing and Urban Development Department on Wednesday allocated $1 billion in funding to U.S. states to help stabilize neighborhoods faced with many foreclosures. The sweeping bank reform bill, the Dodd-Frank Act, allocated the funds for the programs. "These grants will support local efforts to reverse the effects these foreclosed properties have on their surrounding neighborhoods," said HUD Secretary Shaun Donovan. States can use the funds to acquire land and property; demolish or rehabilitate abandoned properties. 

NOTE:   Conflict of interest is showing, where is the help to homeowners?  Are they helping homeowners Or increasing land holdings for the cities and states?  Let see with 1 million you can buy up a lot of property and increase the net worth of the city or state. 

sxc.hu #566365

Do states make laws that affect the homeowners ability to win or lose their foreclosure fight in court? With states benefiting I call these grants a  conflict of interest! 

Many Taxpayers have been denied help that ONLY extends the loan - now THEIR tax dollars are being used to help fund recovery for the aftermath of the foreclosure frenzy. Is there any end in sight? Where is help for the drowning underwater Americans? 

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Underwater? Upside Down Equity?: Never Fear Obama's Here: buying votes in America

An August Surprise from Obama? | Analysis & Opinion |: "Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion. Recall that on Christmas Eve 2009, the Treasury Department waived a $400 billion limit on financial assistance to Fannie and Freddie, pledging unlimited help. The actual vehicle for the bailout could be the Bush-era Home Affordable Refinance Program, or HARP, a sister program to Obama’s loan modification effort. HARP was just extended through June 30, 2011.

The move, if it happens, would be a stunning ">>>>>>Keep reading

This Editor's OP: And you all know how much the bailouts helped JOE the Homeowner last year - right? Too bad it take s low approval ratings and an upcoming election in November to get the polticians working on the problems. Of course one nice side benefit - all those pesky loans that have fraud rift through them will now be absorbed into the system.

photo public domain

Housing Bubble - MORE Foreclosures Coming

Please retweet this blogpost if you find it helpful in learning about government mortgage homeownership and bank loan modifications

Dr. Housing Bubble Blog

May 11th, 2010

Housing never really improved – 10 charts showing the United States housing market is entering the second wave of problems. 1 out of 4 people with no mortgage payment in the last year are still not in the foreclosure process.

To put it bluntly, the U.S. housing market today is in deep water. Nothing exemplifies the transfer of risk to the public from the private investment banks more than the deep losses at Fannie Mae and Freddie Mac. Fannie Mae announced a stunning first quarter loss of $13.1 billion while Freddie Mac lost $8 billion. At the same time, toxic mortgage superstar JP Morgan Chase announced a $3.3 billion profit for Q1. This reversal of fortunes has been orchestrated perfectly by Wall Street. Since the toxic assets were never marked to market, the big losses have been funneled to the big GSEs (and as we will show in this article, now makes up 96.5 percent of the entire mortgage market). In other words, banks are making profits gambling on Wall Street while pushing out mortgages that are completely backed by the government.

>>>>>>>>>>>>>>KEEP READING THIS ARTICLE WITH CHARTS>>>>>>>>>>>>>>

AIG cancels their SECOND PARTY

Well this isn't exactly election news but AIG exectitives have recently been brought to task by the media for the huge expensive vacations they took after the initial bailout loan or 85 BILLION dollars, YUP. 85,000,000,000 $$$. That initial bailout was followed by a second loan by government last week. another 38 billion or 38,000,000,000 $$$ For total of dare we say it OVER 1 Trillion dollars. YEP OVER 1 trillion.

Now I realize in the minds of an exec. half million for a vacation (440,000) is not any where near a trillion dollars. And, after all by spending that money they are paying local taxes and helping economy right? Doesn't help my mind any!

I'd like to participate in that kind of vacation benefit. I mean think of what kind of room and spa service you get for 4K per night. Since I am now, by government helps, a partial stockholder am I going to get that kind of vacation. I think at next stockholder meeting we should all proxy vote for that. Vacation package for all stockholders.

Not content, with being irresponsible once, AIG had planned another party for next week. Can you figure out what goes on in the brains of these guys... oh yeah we are zillions of dollars in the hole ... lets get a loan and go throw some parties.
Fortunately, media lime lighting that caused a change in plans.

Our leaders in government and the candidates running for office better get a little more passionate about this and threaten to draw blood if necessary. I can't believe how casually ALL the politicians are talking about this.

Meanwhile I, like others are caught in between. Lots of money tied up in an insurance policy to provide during retirement and/or death. To get the money back and withdraw all the fund. loses life insurance policy , which isn't easy all that easy to replace. To buy something like it coverage wise would usually include a two year limit on payouts in event of the unfathomable. I guess I'm talking to some term life guys today!

SHEESH. Basically I am wondering if I should try to get new life insurance and throw these guys away - or go apply for an executive job there. I like the benefits - I could use a massage.


Check out related article
http://www.foxnews.com/story/0,2933,435361,00.html

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