http://uk.reuters.com/article/idUSTRE59K01420091021The Fed now owns the Crossroads Mall, a sprawling shopping complex at the junction of Interstate highways 244 and 35, complete with an oil well pumping crude in the parking lot -- except the Fed does not own the mineral rights.
The Fed finds itself in the unusual situation of being an Oklahoma City landlord after it lent JPMorgan Chase $29 billion to buy Bear Stearns last year.
That money was secured by a portfolio of Bear assets. Crossroads Mall is the only bricks and mortar acquired through bailout. The remaining billions are tied up in invisible securities spread across hundreds, if not thousands, of properties.
Banks are complicating and/or not funding short sales. Investors planning on using the foreclosed homes as rentals are being given priority.
http://www.foxbusiness.com/search-resul … -sales.htm
And, no wonder Obama hates fox, they are the only ones calling shennanigans, it seems.
And, no wonder the bankers are high fiving each other and paying themselves sweet bonuses after wrecking the economy; they know we are circling the drain. Small business got raped. Unemployement is rising, foreclosures are rising. They are taking what they can while they can. Soon, there will be nothing left to take.
http://www.huffingtonpost.com/2009/10/1 … 26091.html
I'd ask how these rat fucker bankers and politicians can sleep at night, but if your goal is the subjection and impoverishment of the masses then I guess you sleep well knowing MISSION ACCOMPLISHED.
The banks are now owners of hundreds of thousands of homes thanks to the largess of the fed. The Fed itself is becoming a giant landlord. trillion dollar deficits going forward and debt that can never be repayed. No that's fucking change baby. Change Satan believes in.