Answer: To set up the
Oligarch Welfare Program following:
Via: The Street:
The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds.
These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.
You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.
In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates. (Source)
Here we finally see the hidden motivation and the real purpose of crashing the real estate market: creating an excuse to force people out of their homes, making it easy for lenders to grab their homes. The lenders then are “bailed-out” by the Federal Reserve, who passes the bill on to the tax payers. Once the lenders are bailed out they no longer want to hold actual properties, so they quickly sell all their repossessed homes to giant hedge funds for pennies on the dollar. The lenders know they have to sell quickly before anyone realizes what they did, before anyone files legal actions. Lol! Once the homes are sold off just try and get them back. Can’t be done. Bwahahahaha !!
Crashing the real estate market was necessary to take homes from ordinary people, so they could then transfer them to the wealthy–who will turn around and rent them back to the very people who lost homes.
Voila! Wealth transfer mission $$ accomplished.
Ahem, why not just give the discount on the homes to the folks who live in them?
Duh. Don’t ask silly questions.
As always, profit before people.
Wall Street stands to make an immense profit by becoming, overnight, the “largest improved real-estate owners in the world.” Who says capitalism doesn’t work, with a little help from the government by taking away the property of the working class and giving it to billionaires who pay no taxes? (Source)