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IPFS News Link • Housing

Friends of "One World Company Limited" Can Buy Houses Cheap, Not You (2011)


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. These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value. You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs(GS_) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction. In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates.

1 Comments in Response to

Comment by Ernest Hancock
Entered on:

Yep... we knew this was coming. Why?... because they did it last time with the RTC (Resolution Trust Corp.) after the Savings and Loan taxpayer rip off in the early 90's. That was just a test run for the really big rip off.

The real estate is consolidated under the control of the government and then sold in big cheap chunks to the banks that they gave money to to buy it. A great deal more money would be recouped if they put them up individually for anyone to buy them but then the elite/connected few wouldn't get the big bucks courtesy of the peasants.

What?... you thought it was more complicated than this?