Fighting Foreclosures, F.D.I.C. Chief Draws Fire
More than any administration official, Mrs. Bair has called publicly for using billions of taxpayer dollars to finance the modification of loans threatened by default. But her advocacy has contributed to a battle that is pitting White House and Treasury officials against the F.D.I.C. and lawmakers in Congress. The discord has influenced programs that have so far proved insufficient to stem a tide of foreclosures that Moody’s Economy.com expects will affect 10 million homeowners over the next five years. And it is drawing personal conflicts and animosities into the policy-making process.
Sheila girl, you've gotta get with the times and use the FDIC to bail out the Big Boys of banking, not struggling homeowners! Just like the FDIC was used to bail out S & L's in the 1980's, to the tune of over ONE TRILLION DOLLARS.
Back then, "Poppy" Bush helped oversee the looting of the S & L's, now days, Junior's helping cart off the loot for the Wall Street banksters, like the GREENBERGS, Abraham FULD and "Abe MADOFF.
"Attention, attention everyone, champagne and caviar now being served in the Ben Gurion lounge."
The little people, they get tossed overboard, while the fat cats scoop up the gravy and the band plays on.
WASHINGTON — The Treasury secretary, Henry M. Paulson Jr., on Tuesday rejected pleas to use money from the $700 billion bailout program to help homeowners avoid foreclosure or to stave off bankruptcy by Detroit’s Big Three automakers.
Democrats pummeled the Treasury secretary in response, with some accusing him of carrying out a “bait and switch” by discarding his original plan and others expressing fury that the Treasury had allocated $290 billion for banks and insurance companies but nothing for individual homeowners.
You naughty girl! Trying to use the federal government to actually help people losing their homes to Wall Street gangsters, con artists and hucksters that are walking away with trillions in assets and trillions in tax dollars as a reward for their thievery.
The banksters know what to do, eliminate you from their back room talks about how to steal what's left of the American economy.
White House and Treasury officials argue that Mrs. Bair’s high-profile campaigning is meant to promote herself while making them look heartless. As a result, they have begun excluding Mrs. Bair from some discussions, though she remains active in conversations where the F.D.I.C.’s support is needed, like the Citigroup rescue.
What type of revolutionary talk is Sheila guilty of?
“I’ve heard the stories of people who are suffering and can stay in their homes if there is just a small adjustment to their loans,” said Mrs. Bair, a Republican who was appointed to her post by President Bush two years ago. “There are some people in the Republican Party who resent the idea of helping others,” she added. “But the market is broken right now, and unless we intervene, these people and the economy won’t be helped.
Good grief, Sheila! What other kind of subversive plans have you been hatching?
Around the time that the F.D.I.C. took over IndyMac, Mrs. Bair began urging Treasury and White House officials to use taxpayer money to encourage other lenders and mortgage servicing companies to modify large numbers of at-risk loans, a plan she expected would help 1.5 million borrowers avoid foreclosure and reduce an oversupply of homes on the market. She estimated the program would cost taxpayers about $24 billion.
Ahh, now we see why Ms. Blair has been pushed out of the way. Her original plan, that might of saved the economy from imploding and prevented millions from going into foreclosure would have only cost 24 billion.
Not the 700 + billion that the Vichy Congress ponied up to the Treasury Department and Wall Street at the same time the Federal Reserve was shoveling trillions out the back door to this same gang.
What's in store for 2009 for homeowners across the land?
Foreclosure Storm Will Hit U.S. in ‘09 Amid Job Loss
U.S. foreclosure filings climbed 28 percent in November from a year earlier and a brewing “storm” of new defaults and job losses may force 1 million homeowners from their properties next year, RealtyTrac Inc. said.
The Zionist Wrecking Crew isn't yet done with totaling our economy and stealing everything in sight. There's still some loose change lying around and that can't be tolerated.
From the actual physical attacks of 9/11/2001, to the financial attacks of 9/11/2008, there's one common denominator here and it isn't crazed Muslim fanatics.
In 2009, Israel's economy is predicted to grow 2%, unemployment, at least if you're a Jew, will be nil and the toxic slop sold around the world known as MBS and CDO's were never peddled in Israel.
Really? Why, I'm shocked, shocked, I tell you.
Are Israeli homes facing foreclosure? Perish the thought!