Mortgage bailout is more corporate welfare for banks 

Obama’s latest financial proposal, The Hill reports, is yet another handout to big banks:

Banks will get the biggest benefit from an Obama administration housing program designed to help unemployed homeowners escape foreclosure.

Housing experts expressed concern that banks, not homeowners, will be helped by the White House’s $3 billion funding infusion — $2 billion from the Treasury Department and another $1 billion from the Housing and Urban Development Department — going to those states hit hardest by the housing market crash and unemployment.

This is the way big government works: programs are pitched in the name of helping the regular guy, but Big Business runs away with the loot.

About The Author

Staff Report

Staff Report

Bio:
A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
Pin It
Favorite

More by Staff Report

Latest in Nation

Sunday, Aug 19, 2018

Videos

Most Popular Stories

  • No Stories Yet.

© 2018 The San Francisco Examiner

Website powered by Foundation