When the public finally figures out just how much they've been screwed by the banking system, in collusion with the Government, there's going to be a violent revolution - a friend of mine last night
The $40 billion settlement deal the Government struck with the big banks over foreclosure fraud is not exactly what Obama is promoting it to be. In fact, it turns out that $30 billion of it will actually be paid for by the taxpayers. Did everyone see that particular detail being discussed in any of the U.S. media? Here's the Truth as reported by The Financial Times (London):
However, a clause in the provisional agreement – which has not been made public – allows the banks to count future loan modifications made under a 2009 foreclosure-prevention initiative towards their restructuring obligations for the new settlement, according to people familiar with the matter. The existing $30bn initiative, the home affordable modification programme, or Hamp, provides taxpayer funds as an incentive to banks, third party investors and troubled borrowers to arrange loan modifications.Here's the link, which might require a quick registration in order to read the whole article: LINK
Under the HAMP program, another Obama taxpayer funded beaut, the banks reduce dead-beat mortgages by $30 billion and get reimbursed by the Taxpayers. The real cost of the "punishment" Obama doled out to the banks for foreclosure fraud is $10 billion. Nice huh?
Is this what all you Obama supporters voted for? Direct subsidy of dead-beat homeowners and big banks using your money? And all the while Obama flashing his grin, reading from the teleprompter and telling us how much he punished the banks on behalf of the public.
The country is being hijacked right in front of anyone who's actually paying attention. Most of the public is conveniently distracted by things like Whitney Houston or American Idol concerns. But once they've figured out that the Rule Of Law is destroyed, we'll hopefully decide to turn to our 2nd Amendment remedies.