=THE HUMBLE LIBERTARIAN=



The Definition of Libertarian: What Is Libertarian?

Reade This Landmark Book, A Most Comprehensive Survey of a Divers and Formidable Moovement in Politikal and Philosophical Thought:



THE LIBERTARIANS



The Ron Paul Revolution in Retrospect

The Rand Paul Revolution?

The Tea Party Movement

The Libertarian Party

The Free State Project

The Seasteading Movement

The Austrian Economists

The Anarchists

The Voluntaryists: Stefan Molyneux and Peaceful Parenting

The Agorists: Market Alternatives as Subversion

Objectivism: The Philosophy of Ayn Rand

The Ronald Reagan Revolution

The Crypto-Anarchists: Digital Currency and 3D Printed Guns

WikiLeaks and the Power of Disclosures

The Beltway Libertarians: Think Tanks

State Sovereignty Libertarians

The Psychological Libertarians

Sunday, April 1, 2012

Wall Street Set to Cash in again by Buying Bulk Foreclosed Homes and Renting Them Out

This screams 'taxpayer' subsidy for Wall Street and hedge funds.
Having helped cripple the housing market, Wall Street firms are now seeking to profit from the millions of foreclosed homes by buying up properties and renting them out. Fannie Mae is helping arrange the deal, by packaging large numbers of bank-owned homes and selling them in bulk. The plan comes at a risk for the American taxpayer, according to The Wall Street Journal: “Bulk sales, however, pose a trade-off. While the current approach of selling homes one-by-one has its own high costs and is sometimes inefficient, selling properties in bulk to large investors could require Fannie Mae to sell at a big discount, leading to larger initial costs. It is unclear which would be least costly ultimately to taxpayers, who are responsible for the big mortgage-finance company’s losses.” Firms considering the bulk sales include Amherst Securities Group, a fund run by mortgage-bond player Lewis Ranieri, hedge-fund manager Paulson & Co. and private-equity investors Colony Capital LLC. The first sale would consist of 2,500 homes from across the country, with a total value of about $320 million. The banks and hedge funds buying the bulk properties from Fannie Mae would be required to rent the house and not sell them for seven years.
Read the rest here
AllGov 

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