By: Pierre Legrand
Pierre Legrand’s Pink Flamingo Bar
Just finished apologizing about ranting and raving during a wonderful dinner party… and I read this goddamn ridiculous crap. We are being insulted. We are being screwed. We are being stolen from and our representatives do not represent us, no they represent those stealing from us, in fact they enable it. All the Bastards… should be dropped into a deep hole of a prison and the key dropped into the deepest trench in the ocean.
NEW YORK (RealMoney) — 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. A Huge Housing Bargain — but Not for You – TheStreet
Remember these words…
That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.
This coming election means everything… it is going to be the difference between this having any sort of small chance of ending well and the guarantee that it will end ugly. Even if we elect every single person who might be committed to ending this our road back to sanity will be a very long and difficult one. We have a HUGE portion of the American public who actually believe they have some right to my efforts as represented by my money. Then we have these vultures stealing whatever is left…