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…
What a great idea. It worked really well the first time.
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.
‘Temporary’ layoffs! Easy-credit ripoffs!
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.
@3: indeed, indeed. the real reason for this post. those words.
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.
How about we just reset the entire world’s bank balance at zero and start over?
nobody cares, charles
Ha ha ha, because the alternative to renting a foreclosed home would, in many cases, mean paying NO rent. Thanks Fannie Mae!
Blacks will become extinct in the next few hundred years.