When a President of the United States has this kind of power at his disposal, he cannot be stopped. The president’s power becomes total and the president becomes a totalitarian.
Obama could effectively nationalize the housing industry, making the Federal Government the largest landlord in the world, and completing the largest redistribution of wealth in history.
(August)The Obama administration quietly announced that it was planning to turn the estimated 250,000 foreclosed homes that have been purchased by Fannie Mae and Freddie Mac into Government Rental Housing.
Fox News recently published an article detailing the Administration’s plans to implement a further $85 billion “instant stimulus” to nationalize Fannie and Freddie once and for all. Even the ultra-liberal website Mother Jones thinks the President’s plan is foolish. Kevin Drum who penned the article believes the president’s plan is bad because it will cause the taxpayers to loose even more money than they already have on the two failed mortgage giants.
Thus far, Fannie Mae and Freddie Mac have received over $382 billion in taxpayer assistance and have not repaid a cent (almost 40% of all Federal Stimulus if you were wondering). When added to the $6.1 trillion in mostly subprime mortgages that it already owns, the Federal Government could become the owner of more than half the homes in America. In one fell swoop, President Obama could effectively nationalize the housing industry, making the Federal Government the largest landlord in the world, and completing the largest redistribution of wealth in history.
With the expansion in food stamps, Obamacare and so forth the goal of the Left is clearly to get as large a percentage of the American people beholden to the government as possible as a preparatory step to fundamental change.
~ Obama’s plan for the federales to take formal ownership of what are currently just pledges against mortgages will reduce the tax base.
The problem is a VAST SURPLUS of housing built by Latin American laborers invited by powerful interests to come to the United States to work for below market wages.
So, everyone’s property taxes increase. Or services are forced to be cut. The municipality is forced to request State or Federal help.It is diabolical and I mean that word in its literal sense.
There’s another agenda here. Get Holder’s people from the ghetto to the burbs and then sit back and watch the havoc they create. More chaos to take advantage of.