Many people are outraged that the banking system was given a generous and widely publicized $700 billion bailout, but that’s just the tip of the proverbial banking iceberg. What has been dramatically less publicized is the fact that the backstops that the fed have given the banks and other failed financial institutions such as Fannie, Freddie and Ginnie. Unfortunately, a large percentage of people are angry over a $790 billion stimulus program, which is one of the few job creation items that benefit the people, yet they don’t know that the banksters have held up the government for more than 30 times that $790 billion. I’ll let one of my favorite financial commentators explain what has happened behind the closed doors of the Fed and the Treasury:
There is an nice breakdown of the trillions in bailouts and backstops shown at Source of 23.7 Trillion Bailout Cost? SIGTARP Report Summary.
It’s called “Total potential support” because not all of the money has actually been spent. Much of the potential costs are associated to government guarantees for financial system transactions, which according to the financial institutions, are backed by a pile of worthless paper “assets”.
Two additional SIGTARP quarterly reports have been released since the July report with the $23.7 trillion reference. True to government form, there is not much consistency in the look and feel of these average 250 page reports. The section which contained the $23.7 trillion figure – “TARP in context with other programs”- has been removed from subsequent reports. It’s likely still possible to extract the new figure with a painstaking comb through of the report. My hunch is that this was intentional. SIGTARP and the government agencies that created it do not want the true cost of the financial bailout known, or at least not easily known.
So if you are angry about supporting a dishonest, unethical, greedy financial system with $700 billion in bailouts, you now have 30 times more reason to be angry.
At least there is one Congressional representative that has the nerve to present the conflict of interest between the government and the banksters. Here’s Congresswoman Marcy Kaptur (D-OH) grilling Treasury Secretary Tim Geithner about the Goldman Sachs bailout:
Find great deals on Owner Financed Homes near you with OwnerFinancingListings.com!
Why choose OwnerFinancingListings.com for your owner financed property search?
- OwnerFinancingListings.com pulls in listings from many sources to bring the consumer a substantial selection of nationwide Owner Financed listings.
- They help you to understand the “owner financed” concept and potential benefits.
- Their team has devoted extensive time to building the best owner financed home search navigation on the web.
- The clean design and user-friendly search makes finding owner financed homes easier than ever before.
- You have access to a wide variety of free resources and tools, which include credit reports and moving quotes.
Are you looking for owner financed listings from throughout the US? Well then you came to the right place. With a large selection of nationwide offerings from Memphis Owner Financed Homes to Seattle Owner Financed Homes, it’s easy to see why OwnerFinancingListings.com is your one-stop shop for owner financed properties.
Buying a home is an important financial decision that requires a great deal of planning. There are many websites that help you to plan this all-important purchase and one of them is HUD’s buying a home website.
Start your owner financed property search at OwnerFinancingListings.com.