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Secretary of the Treasury "misplaces"​ $1.5 Trillion in $100 bills....

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In an interview on Fox Business News, the current Secretary of the Treasury, former Goldman Sachs partner Steven Mnuchen, indicated that $1.5 trillion worth of $100 bills recently "disappeared." In explaining how this money vanished, Mnuchen said: "Literally, a lot of these $100 bills are sitting in bank vaults all over the world."

This explanation is beside the point and impossible to verify, of course, making it highly unlikely to be true.

Mnuchin, you will recall, came to Washington with a firmly established reputation for unethical behaviour. In 2009, he took "over California’s IndyMac bank, shut down amid the 2008 foreclosure crisis by the Federal Deposit Insurance Corporation (FDIC). Bought for $13.9 billion (but only $1.3 billion in actual cash), Mnuchin turned it into a genuine foreclosure machine" and became known as the Foreclosure King. His bank "carried out more than 36,000 foreclosures, tossing former homeowners (including active duty m…

"Framework" to Help Prevent Foreclosures

We have been attempting to review the Bush Administration's plan to help stop foreclosures. We have not been able to find coherent, consistent documentation, thus we believe there is no plan. There is, however, a public relations effort designed to feign concern.

According to the Jacksonville Business Journal,

"Nationwide, nearly 1.1 million homes entered the foreclosure process so far this year, up 93 percent from the 559,750 foreclosures filed during the same period last year. About 526,936, or more than six out of every 1,000 households in the United States, were repossessed by banks or lenders during the first 11 months of the year, up 41 percent from the same time last year."

HUD notes that the FHA Secure Plan " has helped 33,000 homeowners prevent foreclosure in three months; More than 50,000 to be helped by end of year. " Thus 33,0000/1,100,000 or three percent of homeowners in foreclosure have been helped. That is three out of one hundred. Even under the …

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