Proof Positive that Government's "Homeowner Relief" Programs Are Disguised Bank Bailouts ... Not Even AIMED at Helping Homeowner

George Washington's picture


We pointed out last year:

Huffington Post notes, in a story entitled “New Obama Foreclosure Plan Helps Banks At Taxpayers’ Expense “:

A key new condition in the plan would shift the financial liability for refinanced loans from Wall Street banks to the American taxpayer.




The newly expanded program would expunge legal liabilities associated with mortgages refinanced through the program for the original lenders of the mortgages. Each time a bank sent a loan to Fannie and Freddie, it certified that the loan met Fannie and Freddie’s safe lending criteria. But many loans sent to the mortgage giants did not, in fact, meet those criteria. Currently, when borrowers default on those ineligible loans, the mortgage giants can “put back” the resulting losses onto the banks that pushed the loans.


Under the modified plan, “put back” liability at banks will be erased for any underwater mortgage that is refinanced through HARP, eliminating Fannie and Freddie’s ability to sack lenders with losses in the event that the mortgage does not pan out.


If borrowers go through HARP, but decide after several months that the modest monthly savings do not outweigh owing tens of thousands of dollars more than their home is worth, taxpayer-owned Fannie and Freddie will have to take the full loss. Even if the original loan was sent to Fannie and Freddie with false or fraudulent guarantees from the bank — promises that may directly be tied to the borrower’s current financial problems — banks will be immune from liability. Fannie and Freddie plan to charge banks “a modest fee” to extinguish this liability, but the administration has yet to determine what that fee will be.


“In most cases people would probably be better off walking,” said economist Dean Baker, co-director of the Center for Economic Policy and Research.

While this is outrageous, it’s nothing new. PhD economists John Hussman and Dean Baker, fund manager and financial writer Barry Ritholtz and New York Times’ writer Gretchen Morgenson say that the only reason the government keeps giving billions to Fannie and Freddie is that it is really a huge, ongoing, back-door bailout of the big banks.

Many also accuse Obama’s foreclosure relief programs as being backdoor bailouts for the banks. (See this, this, this and this).

We noted in February:

The 50-state settlement with the banks ... over mortgage fraud is a stealth bank bailout, according to many top observers. See this, this, this, this, this, this, this and this.


This is par for the course … All of Obama’s previous “mortgage relief” programs have really been stealth bank bailouts which screwed the homeowner. And see this.

We reported in April that the current overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero - said that the Tarp funds haven't been paid to homeowners, but have gone to banks:

A fund to support homeowners in the communities hit hardest by the collapse of the housing bubble has disbursed just 3 percent of its budget and aided only 30,640 homeowners in the two years since its creation, according to a report released on Thursday by a federal watchdog office.The Hardest Hit Fund, which was created in the spring of 2010, grants money to state housing finance agencies for efforts to help families that are facing foreclosure. It has “experienced significant delay” because of “a lack of comprehensive planning” by the Treasury Department and limited participation by Fannie Mae, Freddie Mac and the large mortgage servicers, said the report by the special inspector general for the Troubled Asset Relief Program.

“Look at the TARP money that goes out to the banks,” said [Romero] “That goes out in a matter of days. This has been two years and only 3 percent of these funds have trickled out to homeowners.”

And last month, the former Tarp overseer - Neil Barofsky - noted last month:

The truth is that the administration – whether through principal reduction or otherwise – has never prioritized coming up with an effective approach to helping homeowners and reviving the housing market, even when it had a multi-hundred-billion-dollar TARP war chest at its disposal.

More dramatically, in his must-read book Bailout, Barofsky says the Obama Administration never cared if the HAMP mortgage modification program actually saved homeowners from foreclosure, and that Treasury Secretary Geithner said that the program was simply aimed at spreading out foreclosures over time to “foam the runway” for the giant banks so that a high number of simultaneous foreclosures would not jeopardize their balance sheets. See this 45-second video clip:

Remember that the entire Tarp bailout was initially sold as a solution to the housing meltdown, but was switched - before it was even approved - to a bailout for Wall Street.

This is in addition to all of the government's other stealth bailouts to the big banks.

By choosing the big banks over the little guy, the government is dooming both.

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HardAssets's picture

Its likely that quite a few of us on ZH know when they personally made a turn around in their own thinking - - -

It was in realizing that the whole 'system' is really about criminals stealing from us.

They rob us of the physical wealth we created.

They rob us of our Liberty - - because its easier to steal from us, it protects them from the   backlash, and they enjoy the power trip of telling others how to live.

All the 'bailouts' and all the 'programs' are about stealing more from us so that they can cover their own bets. 

Years ago, a very worldly older gentleman told me that the world was run by criminals, but I thought he was exaggerating.

Of course, he was right.

SanOvaBeach's picture

I'm in the money, I'm in the money.  Gotta find more creative ways to get those fiat dollars from you little people. A bankster.......

shovelhead's picture

Please, a post on English as an Art Form with a pointed focus on the types of statements that carry dual meaning or amount to lies by omission which our press use to incorrectly explicate deceptions the originator is unable to propound.

Is this an example of what you're talking about?

It looks like english...being waterboarded.

Benjamin Glutton's picture

Thank you and yes that was my intent. On any given day it is possible to find 5 to 10 corp/pol quotes parroted by MSM that are hollow in their construction. In my opinion, these hollow statements are purposefully broad to allow MSM the widest possible rehypothecation within the general meme.


Was it wrong of me to suggest that English IS being used as a weapon of mass torture?



tip e. canoe's picture

benjamin, instead of waiting for the above-the-line bloggisars to get around to your most excellent idea, why not just start a periodic summary yourself below-the-line?   

a post within a post aka a metablog of the current constructions within the hollow memescape.

just pick a regular place to be (Gdub or Banzai?) and i for one will come join in the fun.

Benjamin Glutton's picture

Thanks George...



Please, a post on English as an Art Form with a pointed focus on the types of statements that carry dual meaning or amount to lies by omission which our press use to incorrectly explicate deceptions the originator is unable to propound.

Restoring properly structured linguistic parameters by parsing the daily disservice our media and pols spew upon the masses with their nefarious and transparent misstatements is in my opinion a topic worthy of weekly/daily posting.

Consider Stalin's observation,"  Ideas are more powerful than guns. We would not let our enemies have guns, why should we let them have ideas.

ZH rightly takes pride in attempting to highlight the criminal, ethical and policy failings which compromise both government and free market principles while largely ignoring its primary support mechanism. Put simply, when a lie is important to TPTB you will find near unanimity in the stricture of its dissemination. Years of media observation including analysis by review clearly demonstrate that universally embraced truths are artful linguistic manipulations containing roughly 50% fact and 50% objective.

Though I am no fan of Stalin there is something useful and compelling in that particular quote. It will never be possible for the people of this great nation to face down the weapons we have provided the Federal based in Washington,Death Central(seemingly the Feds primary function of late) but it is within our power to take back the English language upon which their power derives consent.



kayl's picture

How about the statement "The dream of home ownership" touted as a goal. The statement is duplicitous in both meanings of the word 1) It has double or multiple means, and 2) It's a scam.

For the average wage earner owning your own home is a great comfort. It allows for stability in the family.

For the TPTB, it is the single most important tool to strip Americans from their wealth. An illusion indeed!


What is this method based upon?

1. By novation, the Federal Reserve Bank was able to transfer its debts to the American people. We are turned into the sureties of the Public Debt from the time of our birth  and with the birth certificate that is printed on bond paper. The birth certificate is a receipt of an indenture on the life work of every American.

2. Adhesion contracts. You apply for a social security card and give away an exclusive power of attorney to the US government to manage your own commercial affairs.

The state level is the place where property ownership becomes a battle ground. The FRNs in your pocket only allow you to get an equitable title to your property, but since 1933 the state owns legal title. Any evidence of debt against you anyway in the state agencies is sold up from the city or from the Board of Supervisors of the county or District Courts, recorded as collateral for your state at the Treasurer and Controller Offices, and the debt is monitized through the Federal Reserve Bank for your region. In other words, the state holds your property as collateral, and the Federal Reserve Branch emits fiat currency for it. Where is there any incentive to let the people control their own property?

On the state level there are adhesion contracts in which you volunteer to give up your property. The obvious ones are your driver's license, license plates, voter's registration, and insurance policies. School registrations and so on.

It seems insurance policies operate under Admiralty law. When you insure freight and a vessel for sea, the owner is not allowed to claim freight and salvage when a vessel founders if he receives insurance. Additionally, if another organization finds a vessel, they have a claim against the owner for all expenses that they incurred in saving the vessel for the owner. Now these laws are complicated. In the insurance contracts that we sign, we receive a perceived benefit of insurance, but often the payout is directed at the insurer since the insurance interest was actually signed over to the insurer.

Here is a little piece of Insurance Code from California under the section Concealment.

335. Each party to a contract of insurance is bound to know: (a) All the general causes which are open to his inquiry equally with that of the other, and which may affect either the political or material perils contemplated. (b) All the general usages of trade.


The words policies and police are related, as policies invoke the power of police confiscation.

The solution is to unwind the contracts, because they are built on the fraud of the original novation. We have to take charge of our own commercial affairs. Bottom line is that we live in a pirate world, and the government workers are privateers on the ship of state.

deerhunter's picture

Dated a girl with a foamed runway before that was popular 30 years ago,  eye opening experience,   sarc off

Zero Govt's picture

"Proof Positive that Government's 'Homeowner Relief' Programs Are Disguised Bank Bailouts ... Not Even AIMED at Helping Homeowners"

Siphoning productive peoples money into the pockets of the unproductive 1% (bankers et al), and just enough into other parasites pockets to get re-elected, is the BUSINESS of politics

What has Da Constitution got to do with the daily grind of this rotten fabricated institution GW? Do you read your mortgages Terms & Conditions every day or do you deal with more pressingh daily issues, like feeding the cat 

The human scum of Westminster are about to triple fines for not paying taxes, this 'public policy initiative' was not in any 3 of the Parties manifestos and has been rushed in without any public debate. Similarly the multi-billion civilian spy-centre the US Govt is building was not in any GOP or Democrat manifesto, no 'public representative' has even mentioned it to local voters (who are paying for it let us not forget)

where does democracy exist, where has it ever even existed, except in the delusion-dipped idealistic brains of sheeple (inc the Frothing Fathers)

Thought Crime for the Day: Don't Pay Taxes ...and don't pay the triple rate fines either. It's your money, they don't represent you or anyone in society but their thieving criminal selves. Viva Le Tax Revolt


GreatUncle's picture

Try this and how it is looking to play out and is just for time to get everything in the right place. The current chase is on for government is to recapitalise banks but to what ends?

If the worst happens before the banks are recapitalised then everybody loses even the politicians and bankers, no exceptions!

Banks recapitalised if the worst hits then only the ordinary people lose.

Now will we have QE forever?

Nope until the banks are recapitalised then the plug can be pulled and it can be done so in the knowledge that all those that matter are safe and secure.

Now lets wait and see if I am right.

ptolemy_newit's picture

It is not about peace, never has been never will be!

The US foreign policy ALL about destabilization!   They don’t care about death or destruction and are happy with chaos.  Keep the fighting there, arm them from wherever the military sales are a one way ticket and never getting back to the amerkan soil anyway.

Use aqueerda every chance you get because you can kill them later.


rustymason's picture

That actually sounds like good policy. At least it makes more sense than, We're spreading Holy Democracy, or They're Doin' it for Oil.

hannah's picture

i do appreciate this article and i agree...but if the gov says it is going to do 'something' i just assume it is bailing out the banks. to assume that the gov is doing you a favor is just stupid..........why bother analyzing any of it. when the gov speaks it is fucking you...period.

madcows's picture

It's called misinformation.  They want youto think they are your friend.  It helps with their re-election bid, and kepts the people from rioting.

Swapping liability from banks to taxpayers helps the banks, who right the laws, who get bailouts, who funnel monies back to candidates, who continue to favor their major financiers.  It's no different from Solyndra or any other government intervention.

Of course, congressional approval ratings are at record lows (10%).

Element's picture



Syria rebels warn they will turn to Al-Qaeda if West fails them

Published: 16 August, 2012, 15:51
Edited: 17 August, 2012, 01:10

The US spy chief has admitted Al-Qaeda might be behind recent suicide bombings in Syria. While rebels threaten they will have to make an alliance with jihadists if they don’t see more help from the West.

The Director of National Intelligence James Clapper, while testifying before the Senate Armed Services, has acknowledged that blasts in Syrian cities since last December “had all the earmarks of an Al-Qaeda-like attack”. [i.e. Hillary and Obama knew of this situation last December, as all they have done since was to work with and promote the interests of Al-cia-da's USA foreign policy division]

"We believe Al-Qaeda in Iraq is extending its reach into Syria," Clapper told the Senate.

The Iraqi government confirmed ealier that Al Qaeda has been crossing from Iraq into Syria to carry out attacks on government forces.

At the beginning of the Syrian internal conflict the rebels relied primarily on small arms but over the months they have become increasingly more sophisticated in bomb-making.

Wednesday’s bombing in Damascus, meters from the UN mission headquarters, put the international jihadists into the media spotlight. Syrian rebels have openly admitted they were behind the attack, but the extensive use of explosives they have been using lately might point at more experienced jihadists from other countries, probably Iraq, where they mastered their terror tactics and bomb-making skills on civilians and US soldiers.

In the Free Syrian Army there are entire brigades that are being armed, paid and commanded by the Libyan Islamic Fighting Group (LIFG), an organization considered an Al Qaeda affiliate by the UN. The US State Department and the UK Home Office both regard it as a terrorist organization as well.

‘West pushes us to Al-Qaeda’

The Free Syrian Army insurgents stick to the demand [demand, mind you] that western support for them is insufficient. The rebels point out they have to deal with the regular Syrian army which has anything from mortars and tanks to fighter jets and assault helicopters at its disposal – and does not hesitate to use them.

So the rebels demand more arms and more western support. Theoretically, they might be satisfied with establishing a no-fly zone over Syria. That would enable them to repeat the Libyan scenario, where special forces from various countries were doing the job of ousting Muammar Gaddafi while local rebels were starring on western media as “true victors over an evil regime”.

But since the US leadership remains ponderous over how to introduce a no-fly zone over Syria as America is engrossed in the presidential campaign, the Syrian rebels’ feelings have been seriously hurt. [oh didums!]

"We don't want Al-Qaeda here, but if nobody else helps us, we will make an alliance with them," suggests Abu Ammar, a rebel commander in the city of Aleppo.

"And you can bet if Al-Qaeda comes here, they will brainwash the people,” Ammar told AFP. “If Al-Qaeda enters Aleppo, the city will become their base within three months.”

While the West pretends to wage war on global terrorism, most politicians would not mind [i.e. Hillary Clinton and Barry Obama and various EU scumbags] if the Syrian opposition united with al-Qaeda, believes Marcus Papadopoulos, a political analyst from online magazine Britain's Politics First.

“If you know the history, you will see that the West and Islamic extremism, though they do not get on with each other, they certainly get into bed with each other when there is a common foe,” he told RT. “Though this won’t come as a surprise to Western politicians, as they are quite aware of it, it will of course come as a surprise to domestic audiences in the West who are largely being fed a story that the Assad government is this genocidal mass murdering machine and the opposition are innocent bystanders.”

Despite the obvious signs of international terrorist organizations battling the regime of President Bashar Assad, the Syrian government finds itself further isolated as the Organization of Islamic Cooperation has suspended Syria's membership. The move is supposed to send a 'strong message' to Damascus, which the group sees as the only culprit behind hostilities in Syria.

Another international body, the Arab League, expelled Syria from its ranks last year.

The Arab countries are showing a united front in dealing with the “apostate” [so make no mistake, the Saudis are playing the religious and ethnic prejudice cards here, which is supposed to be a UN "Declaration of Human Rights, 1948" absolute no-no] Alawi regime in Syria, yet the money and arms they pump into Syrian rebels might end up in the hands of radical Islamist movements that appear to be working to steal the thunder in the Syrian conflict.

What many in the west fail to recognize is that Islamic terrorism is not necessarily a derogative term, it is a descriptive term to denote a guerrilla warfare tactic that justifies the use of terror and violence for achieving political goals.

The Syrian rebels are already starting to fear the political agenda of extreme jihadists that flock into their country. The aggressive tactics the intruders effectively use might soon give the Syrian rebels the choice of either joining foreign extremists in ousting the regime and building an Islamists state in Syria, or confronting them to build a “better Syria without Assad” [huh! yeah, dream on]. The example of a “better Libya without Gaddafi”, where tribal wars have become routine amid a drop in living standards, might be standing straight and tall in front of their eyes.


Soz, to parrotphrase;

"Give us huge quantities of your weapons, for free, and surrender and sacrifice your entire foreign policy and national interests, to fight a terrorist war that we started, and refuse to stop, or else we become the shop-front of Al-CIAda."

And Hillary Clinton and Barry Obama just love these guys!

This is exactly the same proposal put, via the western MSM, to da fweeee-wirld, regarding Libya.  Same arguments, same tactics, same styles, same outcomes.  And last time 'they' did this it was actually the US military and NATO who had put them up to it, and was urging the rebels to insinuate this sort of threat, as a pretext to show the manufactured 'need' for greater US/NATO direct combat involvement ... but not on the ground ... of course.

Same US/NATO behaviour, different country.

Let's face it, this is a terrorist insurgency being performed by the US and NATO, within a Sovereign state [BTW, the UN Charter says quite a bit about this sort of behaviour too...] to create sustained hellish and barbaric conditions on the ground [i.e war crimes] to destabilise Syria as the preliminary softening-up prior to a direct US and Israeli attack, which is still coming [almost certainly before November, because of this clear 'need' ... to stop all the terrible war-crimes in Syria, etc.].  And the US is again using and supplying Al-CIAda, and it's Saudi terrorists, to get this done, and Hillary and Obama absolutely know this to be the case.

So Obama the peace maker will have flat-out murdered millions of completely innocent people before these wars are over--he could not give a fuck--and will again just use the MSM to blame his ever escalating mass-murder-sprees ... on 'others'.

"No, those are not my terrristssssssss!" ... So Obama and Hillary Clinton, and the Saudis, and the Israelis, will all just play-dumb, and deny what they have really done here, while millions are butchered, in an unstoppable series of conflicts that will make what happened in Iraq look like no particular biggie.


Sarkozy urges Libyan scenario in Syria -Aug 9th 2012

BrotherBroGo1's picture

POTUS needs a war and needs one quickly....11/7 will be on us in no time.

SanOvaBeach's picture

U hit it right buddy!  But Obama is going 2 b very reluctant....

TSA gropee's picture

What a surprise. /sarc

eatthebanksters's picture

GW, I can't believe it took you this long to figure this out...

batterycharged's picture

I love my my family but my sister and her husband make well over $100K/year and received Obama's refinancing-for-free program in their mailbox and obliged him.

They were not struggling, in fact in this economy they are now the upper middle class, when they never were before.

They were allowed to refinance for free.

Kudos to my family for doing this, but it made me shake my head. I was unemployed for 3 years and didn't even qualify for food stamps.



rawsienna's picture

Totally misses the point.  To be eligible for HARP the original loan had to be originated prior to June1 2009 - over 3 years ago - and need to be current for the past 12 months (only 1 missed payment allowed).  The vast majority of these borrowers  (80+%) have never missed a payment and the "put back" option is not very valuable anymore. THere needs to be clear "fraud" for the loan to be put back, not some minor paperwork mistake. HARP is very beneficial to the taxpayer and should be continued and expanded.  Yes there is some relief of rep and warranty risk but the idiots at FHFA could have paid for it by charging a simple streamline refi fee,. 


THe real gift to the banks is the fact that it is next to impossible to refi a loan through HARP with a lender other than your current servicer.  That combined with the fact that FHFA does not allow re-harping allows banks to work for huge profits when they refi borrower thru HARP.  


Aubrey Sportcocke's picture


Thursday, August 16, 2012

August 16, 2012 – The White Hats Report #47

Watergate revisited?

The beginning of the end of the Obama Presidency has begun.  The only questions that remain are:

  • How will the charade play out before the American public and the rest of the world?
  • How many will the cabal sacrifice to keep their agenda alive?
  • Will an insider FINALLY come forward, turn Patriotic…and reveal all the secrets?
  • When will it all begin?

The most likely starting volley in this unfolding historic process could very well be the resignation of Vice President of the United States, Joseph Robinette Biden, Jr.

Whether he uses a fabricated medical condition, or if they make more out of the “slaves and chains” comment he fumbled through the other day, the political machine has to come up with a very convincing reason for his exit. The White Hats believe the brain tumor story, which has come to the forefront again, would be a very good reason for the comments he has been making.   Most of our counter parts in the international intel circles see the handwriting on the wall and say expect it this mid-week … and we are there … right now.

What does this mean in the big picture?

Obama is in serious trouble … on multiple fronts. CONTINUE WITH ENCLOSED LINK

Westcoastliberal's picture

Isn't it amazing when you peek behind the curtain and realize it's a totally different reality?  Can't wait to read Barosky's book.

andrewp111's picture

Obama is the best friend the Banksters ever had.

No-one was prosecuted. No one. Corzine is already laughing his ass off.

SanOvaBeach's picture

We had dinner together, we were both laughing.............ha ha

SanOvaBeach's picture

That is why I donated $500,000 to his re-election campaign.  I want the cash flow to continue.  You really think I give a fuck about you little people.

Disenchanted's picture



"Obama is the best friend the Banksters ever had."


So does that mean the banksters are Communist Marxist Muslims too?  /s


LMAO...Here's the real deal, Obama or any President is an employee of the banksters.

Buck Johnson's picture

They doomed this country and this economy with what they did.  Maybe this is the reason why the DHS is buying millions of rounds of ammunition (small arms) and the Social Security branch is buying hundreds of thousands of rounds of hollow point ammo.  They know the game is about to be over and once the checks stop coming people will march on them for answers.

SanOvaBeach's picture

I love it, u paranoid fuck. "they", "they", "they", did it.  Your a fuck'in psycho.  Who is "they"?

Lednbrass's picture

The .40 cal and .357 Sig isn't much to worry about, its only pistol ammo which has very minimal range and usefulness. If things did get truly ugly and serious trouble flared up, those peashooters are certainly what I would want them to have vs. an enraged populace with real weapons. I also don't see a couple hundred thousand rounds of hollow point pistol ammo as being a concern- my backwater rural county of at most 70K people has more than that sitting in home gun cabinets not to mention all the rifle and shotgun food.

Far more troubling is the 175 million rounds of .223 for DHS- now that is cause for concern.

shovelhead's picture

Reach out and touch someone.

.40 for close urban combat and .223 for the ones that break and run.

Gotta have the right tools for the job at hand.

SanOvaBeach's picture

Your a redneck fuck!  Stick that gun up your ass and pull the trigger.

shovelhead's picture

I'm sorry that your hormone therapy is not working.

Get well soon.

SanOvaBeach's picture

Ah, the crack pipe is great!

nmewn's picture

Holder is well regarded in criminal legal circles.

Just ask Marc Rich.

toady's picture

It's only money.

SanOvaBeach's picture

So they can blow your brains out when they (we) want to.

Doubleguns's picture

Yep like Jean Menezes. Shot in the head 7 times while the police held him down. And he was a misidentified  inocent man.


No charges were ever filed against the cops of course.


Tyranny abounds.

Doubleguns's picture

Nick they need that much ammo because they can't shoot straight. 320 million citizens equates to a lot of bullets for these guys when they usually have to use about 50 rounds per kill.There are a million examples on the net but here are3.


Even when they have you in handcuffs they have to shoot you twice.

sm0k4's picture

They have to protect us from those dirty terrorists, duh!

SanOvaBeach's picture

Is'nt that a kool cover?  A former VP came up w/ that one!

bunnyswanson's picture

That the DHS or any other govt figure has not officially addressed this issue, and put the citizen's at ease, is disturbing.  "It's a 2 for 1 sale"  or "target practice" or "we may enter a period in the US where crime escalates to the point of armed individuals so numerous, we have decided to increase our cache of ammo.  It's a matter of preparing for the worst and hoping for this best."  would be good enough. 


The silence is deafening.  Nervous suspicious citizens which kids to feed are the worst kind to reason with and DHS must surely know this. Provocation is what the end result.

This administration seems to display  contempt for the class of people who have lost it all and the very poor.   

Agitating the Americans into duals is conceivable.  I seriously cannot believe Obama rceives the praise and adoration he does when the country he leads is in such a precarious position, more precarious than ever. 


Mithril's picture

Fuck it, I've lost all faith and credibility with these bastards, and then they have sent all of our jobs away.... Get the pitchforks!

SanOvaBeach's picture

Your a stupid ass that has no concept of what business is all about.  If I can have blue widgets made in China at 90% less than I can have it made here, why should I have it made here.  I am not obligated to give you a job to feed your family.  Do I look like Santa Claus?  I'm in business to get rich, period.  I do need people to help me and well very generously pay them if they have the skills I need.  Now Nixion opened up China.  Remember, it all started w/ ping pong.

Mithril's picture

“If I can have blue widgets made in China at 90% less than I can have it made here, why should I have it made here.”
-Well Duh, the reason why you shouldn’t is because you don’t send Capital out of the United States never to be seen again only in the form of junk that has no quality and is made by six year old kids.
The way you don’t is to be efficient, innovate and have quality products.
“I am not obligated to give you a job to feed your family.”
-LoL, you never will be.
“Do I look like Santa Claus?”
-Well yes you do, you’re fake fuck just like the blue widgets you make.
“I do need people to help me and well very generously pay them if they have the skills I need.”
-Here again your “generously” is very kind towards the export of Capital and Jobs.
And I whole heartily disagree with your last statement.
“I do need people to help me”.... You cannot operate in any form of society, capitalism et. Without the help of people... Dumb ass.