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Tuesday, December 16, 2008

Money Today in American Socialism

Posted by on Tue, Dec 16, 2008 at 9:03 AM

The return of public housing!

In a move that provides relief to thousands of renters who face eviction but draws the federal government even deeper into the housing market, the loan giant Fannie Mae said Sunday that it would sign new leases with renters living in foreclosed properties owned by the company.

It is the first nationwide effort to provide widespread relief to renters ensnared by the unfolding mortgage crisis, and it will effectively transform Fannie Mae — a government-controlled mortgage finance company — into a national landlord...

And now for a walk down memory lane...

 

Comments (10) RSS

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1
What a great idea. It worked really well the first time.
Posted by P to the J on December 16, 2008 at 8:58 AM
2
Viewed through a short-term lens this move appears extremely capitalistic, this hardcore strategy to reduce losses and keep the properties from becoming vacant. It is a capitalist truism that when you're too big to fail, some cash flow always beats none. Capital has come to realize how quickly, inexpertly, but deeply fucked are its interests today.
Posted by tomasyalba on December 16, 2008 at 9:05 AM
3
'Temporary' layoffs! Easy-credit ripoffs!
Posted by flamingbanjo on December 16, 2008 at 9:30 AM
4
Seen in the closing credits:

JAY LENO
as The Young Man

Leno on "Good Times." I bet he was unfunny.

But perhaps his "comedy" stylings of today were shaped by J.J.
Posted by Niro DeRobert on December 16, 2008 at 9:42 AM
5
@3: indeed, indeed. the real reason for this post. those words.
Posted by mudede on December 16, 2008 at 9:52 AM
6
I used to love that show. As a poor rural white kid, I totally identified with this family. I don't know why. Willona was awesome. Plus the theme song kicks ass.
Posted by Balt-O-Matt on December 16, 2008 at 10:05 AM
7
How about we just reset the entire world's bank balance at zero and start over?
Posted by Urgutha Forka on December 16, 2008 at 10:18 AM
8
nobody cares, charles
Posted by you suck on December 16, 2008 at 10:29 AM
9
Ha ha ha, because the alternative to renting a foreclosed home would, in many cases, mean paying NO rent. Thanks Fannie Mae!
Posted by Dougsf on December 16, 2008 at 12:38 PM
10
Blacks will become extinct in the next few hundred years.
Posted by Blacks = extinction in 500 years on December 16, 2008 at 2:46 PM

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