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Crock Obama's Scheme to Kill Public Housing and Give the Land to His Rich Cronies--Black Agenda Report Glen Ford

Von: skepticl1@aol.com (skepticl1@aol.com) [Profil]
Datum: 07.06.2010 22:23
Message-ID: <78e355a7-e331-41dd-a423-f30996706561@n37g2000prc.googlegroups.com>
Newsgroup: alt.politics alt.conspiracy alt.atheism alt.sports.football.pro.sf-49ers
Obama's Scheme to Kill Public Housing and Give the Land to Banks
Wed, 06/02/2010 - 08:03  Glen Ford
A Black Agenda Radio commentary by Glen Ford
For the Obama administration, every bit of public space and property
is "on the table" - subject to privatization.  Transfer of public
wealth to private hands seems a White House obsession. Next on the
auction block: the nation's public housing stock. "This is
gentrification and urban displacement on a gargantuan scale."

Obama's Scheme to Kill Public Housing and Give the Land to Banks
A Black Agenda Radio commentary by Glen Ford
"Obama would entrust the fates of millions of poor people to the
tender mercies of the same criminal-minded class that has destroyed a
generation and more of Black homeowners."
President Obama's greatest domestic imperative is the transfer of
public wealth and resources to the private sector. He moved tens of
trillions of dollars to Wall Street in the guise of rescuing the
economy. Hundreds of billions in public funds are scheduled for
transfer to private insurance corporations over the next decade or so,
masquerading as a health care plan. His support for corporate-backed
charter schools and other so-called public-private partnerships has
dramatically escalated the privatization of education in the United
States. Obama calls it a "Race to the Top." Now, the Obama
administration is serving up to corporate vultures the nation's
dwindling stock of public housing, with bankers as the ultimate
beneficiaries.
The plan is slick, but easy enough to see through - like the
president, himself.  Dubbed the Transforming Rental Assistance
initiative, or TRA, the scheme would allow banks and other speculators
to mortgage public housing, and then raise the rents to ten percent
above market value.  The federal government would make up the
difference, pumping the people's money directly into Wall Street
accounts. Eventually, of course, the feds will halt or cut back
payments, and the properties will revert to the bankers, who will sell
them to developers and kick out the tenants. This is gentrification
and urban displacement on a gargantuan scale - brought to you by the
First Black President.
Imagine! Obama wants to transfer to banks and developers tens of
thousands of acres of public-owned urban property - home to 1.2
million families, disproportionately Black and brown - all the while
subsidizing the banksters' profits with billions of taxpayer dollars.
He would entrust the fates of millions of poor people to the tender
mercies of the same criminal-minded class that has destroyed a
generation and more of Black homeowners and displaced legions of Black
renters from the gentrifying cities.
"The scheme would allow banks and other speculators to mortgage public
housing, and then raise the rents to ten percent above market value."
Obama wants to transform public housing into a Section 8 subsidy
program. That is the kiss of death. Section 8 housing has always been
underfunded. In New York City, alone, 10,000 Section 8 voucher holders
may not be able to pay their rent because the feds won't come up with
the funding.
When public housing defaults on payments to the bankers under the
Obama scheme, it will be a second bonanza for Wall Street - which is
how billions are made in an economy ruled by parasites who create
nothing, but charge a fee for everything.
Those are Obama's kind of people. I'm not just talking about the mega-
banks and hedge-funders that backed him to the hilt in his
presidential campaign. Obama's closest cronies and former clients from
Chicago - including senior advisor Valerie Jarret - made their
fortunes milking government subsidized housing programs for the poor
until the federal government had to step in and pick up the pieces.
If Obama has his way, speculators will descend on all 3,000 of the
nation's public housing agencies, bribing every official in sight in a
frenzy of corruption over federal land and subsidies. And the poor
will start counting the days before they are put out in the street.
For Black Agenda Radio, I'm Glen Ford. On the web, go to www.BlackAgendaRep
ort.com.
BAR executive editor Glen Ford can be contacted at
Glen.Ford@BlackAgendaReport.com.
http://www.blackagendareport.com/?q=content/obamas-scheme-kill-public-hou
sing-and-give-land-banks

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