Obama and Geithner's Insidious Plan to Hand the Entire Housing Industry Over to the Banks

By Robert Scheer, Truthdig
Posted on February 17, 2011, Printed on February 18, 2011
http://www.alternet.org/story/149960/

This article first appeared on TruthDig.

A most dastardly deed occurred last Friday when the Obama administration issued a 29-page policy statement totally abandoning the federal government’s time-honored role in helping Americans achieve the goal of homeownership. Instead of punishing the banks that sabotaged the American ideal of a nation of stakeholders by “securitizing” our homesteads into poker chips to be gambled away in the Wall Street casino, Barack Obama now proposes to turn over the entire mortgage industry to those same banks.