$100 MILLION PER DAY INTEREST ON STIMULUS MONEY

July 20, 2009

As President Obama's job approval ratings slip, and big troubles surrounding his "universal health care plan" seem to be growing, it was announced today that it is costing the U.S. Federal government $100 million per day in interest on the "stimulus" money. That's the money that was supposed to keep unemployment below 8%, create thousands of new related jobs and turn around our collapsing economy. The "stimulus plan" isn't working. TARP funds, initially approved by Congress to purchase the toxic mortgages, were instead used to help their banking buddies continue to pay huge salaries and bonuses to themselves!

At a $100 million/day in interest on money that hasn't even been released yet, you have to wonder how many homes could have been saved from foreclosure from the interest alone.

The American public had better wake-up and soon! How crazy is it to continue ignoring the housing crisis (yes, it's a crisis), especially when American's were fraudulently taken advantage of by banks and mortgage companies. This was CRIMINAL and the American people want those guilty punished and for the government to resolve this crisis in the home owner's favor NOW!

There should be no consideration for potential losses by banks, etc. holding these toxic mortgages - engage in criminal activity and pay the price. The banks are reporting huge profits from the last quarter, after just receiving billions from taxpayers to "rescue" their personal piggy banks.

It was the Federal government that allowed these banking criminals to instigate their scam and their reason was to give low income families to live the American dream and to purchase a house. It didn't matter if the low income applicants could afford the home, didn't matter if they could prove ANY income, on and on. Helping out the "disadvantaged" by instituting these programs destroyed our home values. Now, they're asking us to help them again by insuring everyone. Will anyone help the majority of homeowners that had been paying their mortgages for years and now find themselves underwater because of these follies?

It's time the Federal government stop this nonsense and the continued gifts of billions in tax dollars to their buddies! Help the homeowner or the consequences will be very ugly. Those involved in this scam should be very, very worried.

The extent of the scam is enormous, but we're doing our best to identify at least the biggest players. We will be reporting their names and any personal information we can uncover as soon as possible. If the Federal government won't take action, well....!