Under The Radar Bailout Of The Banks Paid For By Foreclosure Victims
Monday, August 11th, 2008Although there have been numerous proposals put forward by Congress in order to fix the housing crisis, most of them have so far proven ineffective or are blatant bailouts to corporations. The politicians have been churning out one propaganda piece after another under the label of “foreclosure help,” the corporate welfare “Foreclosure Prevention Act” being only the most recent.
These programs, though, have been designed more to distract attention away from the real bailout going on. Debates about how many tax breaks to give to corporations to induce them to keep foreclosing on houses allows legislators to avoid looking at the bailout going on right in front their eyes, with the Federal Reserve funding the banking industry with taxpayer money.
