Obama, Destroyer of Black Wealth

Just as the former president was dislocating his shoulder patting himself on the back for the economic recovery the nation has been experiencing in the last year, a scathing paper has come out titled, “Foreclosed: The Destruction of Black Wealth During the Obama Presidency.”

It makes for some interesting reading. After reviewing the cause of the housing bubble and the money showered down upon the banks to keep them from folding, the authors discuss the two programs started under Obama, HAMP (Home Affordable Modification Program) and HARP (Home Affordable Refinance Program). The latter program, HARP, they believe was too little. The former program, HAMP turned out to be so poorly conceived, implemented and overseen that it actually forced more people to lose their homes than would have occurred if the program had never existed.

You can read for  yourself within the section titled, “The Failure of HAMP,” starting on page 7.

21 Comments on Obama, Destroyer of Black Wealth

  1. He’s the intellectual equivalent of the Emperor with no clothes, only Obama’s never had his intellectual inferiority questioned.

  2. There’s nothing ZerO didn’t attempt destroy, and in many instances he succeeded, it was all about him and his bow legged bitch.


    🔸 Bill Clinton and Janet Reno forced lenders to give housing mortgages to unqualified minorities
    🔸 To make up for their inevitable LOSS, because minorities are notoriously transient and unstable, they bet on DERIVATIVES.
    🔸 Derivatives can be made on anything for anything. The derivatives market almost cannot be estimated on the amount of worth of things betted, –perhaps 100 Trillion or more.
    🔸 Banks bet that people WOULD pay their housing loans, and when they did, the bank won. They got back some money that they lost in foreclosures, late payments etc.
    🔸 George Bush, Ron Paul, and John McCain ALL demanded the housing industry be monitored and regulated. Democrats refused, calling it “Racist” or “There’s no evidence of a crisis” because minorities were getting money and loans thrown at them.
    🔸 The economy started to go down in 2007.
    🔸 Jobs were lost, and housing payments / foreclosures dropped. A LOT!
    🔸 This created a crisis because banks couldn’t lend anymore, and they had to pay back TRILLIONS in lost bets.
    🔸 Government swoops in and bails out the banks to SHUT THEM UP so that they don’t spill the beans about what the gov’t forced them to do in desperation in the first place.
    🔸 Banks are blamed for unregulated behavior.
    🔸 Occupy Wall*Street rent-a-mob comes out to distract the public from government RIGGING for minority votes.
    🔸 Banks get “punished” by receiving trillions from tax payers.
    🔸 Obama gets nearly $800 million extra to stimulate the economy.
    🔸 Money is wasted on teacher unions who pay a portion of their salary back to unions, then back to Obama.
    🔸 FBI gets new computers, a lake in Utah gets a guard rail, and Alaska gets a fish ladder.

    ALL THIS LOST WEALTH was the actions of Bill Clinton’s forced racial favoritism, fake protesters, and Obama paying off his buddies.

    Be DAMN GLAD Hillary and this group of economic terrorists didn’t get back into the White House!

  4. Can’t stomach watching that delusional, evil punk take credit for something he obviously knows nothing about. Every sucessful policy President Trump has implemented blossomed in the economic scorched Earth Obama created and abandoned.

  5. IN 98 or 99 no less than the NYT accurately predicted what would happen to the housing market.
    I blame Allan Greenspan for the housing bubble and burst.

  6. It looks like Barry Obama`has a mouth full of “Man Love” and he’s getting ready to shallow the load. just saying

  7. @Roman V

    Ron Paul talked about the coming housing bubble numerous times. He warned Congress. Go on youtube and look at Barney Frank flatly dismissing claims, and Congressional Black Caucus members attacking those who sounded the alarm.

    They collapsed our economy, lost trillions for a racially rigged housing scheme that failed, then blamed Bush for it.

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