Obama’s Campaign Ploy Rewards Banksters And Loots Americans

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The Continuous Campaigner got himself a twofer this week.

In announcing revised rules to the Home Affordable Refinance Program (HARP), President Barack Obama bought himself a campaign ploy attractive to millions of homeowners struggling to keep their homes and a payoff to his bankster buddies who are now encouraged to make more “risky” loans that bear no risk at all.

The housing bubble that burst in 2008, causing the crash, was created by the Federal Reserve’s artificially low interest rates and regulations that encouraged banks to make home loans to people who couldn’t afford them. When that house of cards collapsed, the banks’ risky behavior was rewarded with trillion-dollar bailouts.

Now Obama is taking another dip into that pool. White House National Economic Council Director Gene Sperling called HARP a “win-win.” For the banksters, that about sums it up.

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The Greatest Government Cover-up Ever

The subprime mortgage market collapsed… financial institutions across the country failed… unemployment skyrocketed… and America was catapulted into the biggest financial crisis of all time.

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The new regulations encourage banks to make bad loans but absolve them of any of the liability. Shenanigans such as these are only possible under a fiat money system of greed and corruption. The banksters and Wall Street are the clear winners, and the American taxpayer once again suffers from the criminal enterprise that inhabits Washington, D.C.

Bob Livingston

founder of Personal Liberty Digest™, is an ultra-conservative American author and editor of The Bob Livingston Letter™, in circulation since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.