1. “Contrary to Government Claims of 243,000 Jobs Created, Hundreds of Thousands of Jobs Were Actually LOST In January”
2. “The Banks Want to Dump Millions of Risky Mortgages Onto FHA
Obama’s Refinancing Swindle
Barack Obama’s new housing refinance plan has nothing to do with “lowering monthly mortgage payments so responsible borrowers can stay in their homes”. That’s all public relations bunkum. The truth is the banks want to offload their garbage mortgages onto Uncle Sam to avoid hundreds of billions of dollars in losses. That’s what this refi-ruse is really all about.
One last thing, all the talk about a “bank tax” is pure blather. The banks will be more than happy to cough-up $5 billion or so if it means they’ll be able to jettison the hundreds of billions in crappy loans on their books. As far as they’re concerned, that’s money “well spent”.”