Remember the housing market crash during the Obama years? Well, you'll want to hear this 👇
(twitter.com)
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Remember AIG?
I recall entities able to put default insurance on properties, even if they didn't own it and AIG was selling these policies.
Say a house has 10 default policies on it, so when that home goes into default, AIG was on the hook for 10x.
Obama administration steps in with the 800BN in bail out money right, instead of putting that money into the system at the homeowner level preventing the default, they put it in at the AIG level so the homeowner lost the home, AND AIG could payout the insurance.
Think about it, 100,000 to save a family home, or 1,000,000 so they lose the home and the banks get paid.
They really do hate us.