The banks got trillions in loans from the Federal Reserve that they claim they paid back, although it is statistically impossible for them to have done so; but now the banks are willing to pay billions to homeowners, which isn’t all that much when divvied up among all the homeowners the deal is supposed to help. $25 billion is a drop in the bucket, but it is an election year, so Obama fans the illusion that he cares about working people. No doubt about it, he does care, but only during an election year. Otherwise, President “Wall Street” Obama would have done something to help homeowners a long time ago.
Archive for February 9th, 2012
Posted in corruption, Economics, Economics, recession, Federal Reserve, mortgage fraud, Politics, tagged Bank of America, Banks, billion, Citibank and Ally Financial, JPMorgan Chase, obama, wells fargo on Jpm2000000pmThu, 09 Feb 2012 18:03:35 +000012 10, 2010 | Leave a Comment »
The most intellectually gifted Republican candidate for president might be Ron Paul, or it might be Mitt Romney, or perhaps Newt, but it sure isn’t Rick Santorum. He’s as clueless as Michelle Bachman. That means he’s slightly more intelligent than a rock. Okay, he’s simply intellectually challenged. But now Santorum says the financial crisis was caused by high gasoline prices.
Young people are stuck in the unemployment line at the worst rate since World War II. The old folks are hanging on to their jobs because retirement benefits suck for a lot more citizens today than a decade or more ago. New jobs are being created at better rate than the lost decade of George W. Bush, but historically jobs growth still sucks. The share of young adults 18-24 who are employed has dropped to 54.3 percent, the lowest level since the government began tracking such data in 1948.