Legalized Plunder Of Americans

#Foreclosed Homes Given To Wallstreet

Great news, everybody: After deliberately failing to help millions of American families stuck in vulture mortgages, the U.S. government is now giving those foreclosed homes to Wall Street for pennies on the dollar so that Wall Street can then rent the now-vacant foreclosures back to the same people pushed out during the Wall Street-caused housing bubble collapse.

Wall Street stands to make an immense profit by becoming, overnight, the “largest improved real-estate owners in the world.” Who says capitalism doesn’t work, with a little help from the government by taking away the property of the working class and giving it to billionaires who pay no taxes? Who says that?

The Street/RealMoney.com reports on this innovative solution to the problem of millions of foreclosed homes currently not providing income for Goldman Sachs:

The largest transfer of wealth from the public to private sector 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.

NOTE: Investors will pick up these funds in bulk investments of 100 million-500 million bundles, rent them out at attractive rents, and then when there is a population of capable buyers sell them at prices below standard and still make a killing. Further hurting the normal housing market in the process.

Is The US Next?

'Last week the governments of Germany and France called for a single government to rule over Europe to deal with the European debt crisis. Today, Germany moves the game plan forward by issuing a statement outlining their demands for indebted European nation’s to secure banker bailouts.

In a statement that is nothing short of a plan to roll out the Fourth Reich, Germany is demanding nation’s give an “extensive surrender of national fiscal sovereignty to secure banker bailouts.'

Guess Where Our Money Went

After months of litigation and an act of Congress, Bloomberg has an exclusive on the massive lending by the Federal Reserve to Wall Street banks during the height of the financial crisis in 2008.

On top of the $160 billion in loans from the Treasury Department, banks — including those based overseas — borrowed $669 billion from the Fed, with the Fed's peak balance at one point reaching a staggering $1.2 trillion.

According to Bloomberg, the $1.2 trillion is about the same amount as homeowners owe on 6.5 million delinquent mortgages, three-times the size of the federal deficit in 2008, and more than the total earnings of federally insured banks in the last decade.

The leaderboard (via Bloomberg):

Morgan Stanley — $107.3 billion
Citigroup — $99.5 billion
Bank of America — $91.4 billion
UBS — $77.2 billion
Goldman Sachs —$69 billion
Deutsche Bank — $66 billion
Barclays — $64.9 billion
JP Morgan Chase — $48 billion
Hypo Real Estate Holding — $28.7 billion
Societe Generale — $17.4 billion

Bailout, Bankruptcy And Breadlines Are Just The Beginning

NOTE: Look at which FOREIGN banks and US MAJOR CORPORATIONS were given our wealth. Banks get paid off, people's homes are still foreclosed on, banks will rent foreclosed.