|
Crony Socialism: Obama's re-fi scam is a smokescreen for another bankster bailout, says David StockmanYahooFeb. 09, 2012 |
Popular 
House Passes NDAA With Section 219 Aimed at 'Merging' U.S. and Israeli Militaries
Netanyahu Confirms Plan to 'Merge' U.S. and Israeli Militaries
Mark Levin Flying to Israel as Netanyahu Reportedly Seeks to 'Leverage' Levin to Trash Trump's Iran Deal
Sen. Graham Worked With Israeli Officials to Push GOP Senators to Pass Aid Package, Amb. Reveals
Sen. Lindsey Graham Dead at 71
|
 Author and former OMB director David Stockman sits down with the Daily Ticker to explain Obama's latest election year scheme to give re-fi's to select underwater mortgage holders. It's nothing but another bailout for JP Morgan, Wells Fargo, and other big underwriters of 2nd mortgages and home equity loans, since ultimately these 'homeowners' are going to default. This is where 40 years of government meddling in the housing market has gotten us. This scam is all about wealth redistribution and is the worst kind of crony socialism, says Stockman. (6:31) Video: |
