Luxury Condos In New York City Boast FHA Backing

Bloomberg:

Whitney Gollinger, marketing chief for a Manhattan condo building with an outdoor movie theater and panoramic city views, is highlighting a different amenity to spur sales: the financial backing of the federal government.

Read the whole story: Bloomberg

Comments

[picaman]

12:29 PM on 08/17/2010

Once again, Socialism for the wealthy, capitalism for the rest of us.

[CH0001]

04:46 PM on 08/16/2010

http://www.counterpunch.org/pace02272009.html

"By the 1980s the chief concern of the ruling elite became making sure that when the reckoning finally came it would be working Americans – not the rich – who would bear the brunt of the adjustment. That required transferring wealth from working people to the rich in advance of the reckoning. This has been the main projects of the ruling class since the election of Ronald Regan."

[CH0001]

04:42 PM on 08/16/2010

The wealthy elite love "socialism" when they benefit from it it. They hate it when the unwashed masses get to partake.

Class warfare at it's finest, and the gullible just eat it all up...

[norkas]

06:34 AM on 08/16/2010

If you think this is bad just watch people.

Now some politicians will get a nice contribution and will be big because of the decision by the supreme court that is business may give no limit contributions.

Think you are being abused just wait for the story to unfold and how quickly politicians will destroy Americans for money and power.

[angry expat]

12:52 PM on 08/15/2010

Elitism at its finest. Pet spas...I can't even afford to buy shampoo. I am ashamed of my country.

[jadedid]

12:09 PM on 08/15/2010

Absolute madness. Absolute abuse of the system. Things are getting crazier and crazier with no signs of slowing or a return to sanity.

[NeverEndingWars]

09:38 AM on 08/15/2010

To Screwy.

Everyone NEEDS health insurance, bozo.

Unless of course you want to be a leech and anarchist.

Why are bozos like you so irresponsible?

[NeverEndingWars]

08:24 AM on 08/15/2010

Arrghhhhhhhhhhhhhhhhhhhhh!!

When are you people going to stop playing the left vs right game?

WAke the F up!!!!!!

There is very little difference.

You do NOT have a govt of the people, by the people and for the people.

EVERYONE you vote for, whether DEM or REPUB is beholden to the lobbyists and corporations.

They DO NOT represent the American people.

Voting won't change a THING. its ALL smoke and mirrors.

http://www.youtube.com/watch?v=RWnJa9XFwLo&feature=related

The zioBankers. the zioControlled Pentagon and all ziocontrolled US media has the American people by the balls.

[CH0001]

04:44 PM on 08/16/2010

So true...

[floodberg]

05:47 PM on 08/14/2010

THE 99%ERS NO LONGER QUALIFY FOR FHA.

HOW CONVENIENT FOR THE RICH.

After all, most of us 99%ers have shot credit ratings from being unemployed, underemployed, foreclosed, late making payments, or having open lines collapsed, so most of us can't qualify anyway. But we're doing our part: insuring their FHA mortgages on prime high priced real estate. With 'strategic defaults' so popular among the rich, this seems to be a risky move - but as Citicorp says, 'invest in wealth and increasing income disparity' (confidential plutonomy memo, 2005/6.)

'Our' concerned government has obligingly conferred these benefits upon the very wealthy, who will be quite grateful. Bloomberg really is King of NYC and his reign of terror will continue, hand in hand with that 'our' President and Congress who so greedily and willingly serve 'a higher authority' than the voters - Wall Street.

[mashtoe]

05:38 PM on 08/14/2010

The Democrats are truly the party of corporate welfare.

[bbrecht]

11:03 AM on 08/14/2010

This is obscene.

[Carolab]

12:50 AM on 08/14/2010

And in New Jersey, former disgraced Senator Bob Torricelli, along with his replacement Senator Robert Menendez, are doing business with Joseph Panepinto and Donald Trump along the Jersey City Hudson River waterfront on a 50-year redevelopment plan, Journal Square.

Torricelli is a lobbyist for Panepinto. Menendez secured $2.2 billion in state and federal funding.

On the waterfront, Panepinto is partnering with Donald Trump and several other firms to construct Trump Plaza, which will become the state’s two tallest luxury residential towers.

http://www.nj.com/news/jjournal/jerseycity/index.ssf?/base/news-10/1280298340265920.xml&coll=3

[Carolab]

12:55 AM on 08/14/2010

More details here:

http://www.prlog.org/10198064-developer-joseph-panepinto-66-from-panepinto-properties-recalls-time.html

[Carolab]

12:58 AM on 08/14/2010

I guess it's true what they say about the mob and construction and the unions and New Jersey. The Sopranos wasn't all fictional, you know.

[Carolab]

01:01 AM on 08/14/2010

Correction: Robert Torricelli is both a lobbyist AND a partner in Panepinto Properties.

Some of you may remember his ties to the mob and illegal campaign contributions from David Chang and how he had to step down.

[PORK RIND]

12:24 AM on 08/14/2010

And so, the New Bloombergistan gets the Big Brother's seal of approval, plus some funky collateral, courtesy of You, the Taxpayer.

Welcome to the twilight zone y'all !!!

[jmdziuban1]

11:31 PM on 08/13/2010

Enacted in 1934? A New Deal program, intended to help people of low to moderate incomes, has been extended to higher incomes. Yet, all those New Deal programs, which cannot be extended to people of upper income levels, are on the chopping block. Or, in the case of financial regulation and consumer protection, long ago eliminated

[sueinmn]

09:18 PM on 08/13/2010

Give it ten years (if that long) and America will totally transform into corporate control, corporate governing and all the rest will be peasants to the rich. Were getting amazingly close.

Crony capitolism- look it up. Same as the good ole boys system.

What is the paybacks to be in congress? Why would these candidates spend 50-90 millinon of THEIR personal wealth if the paybacks were not huge. What do we or can we do to change the direction we are heading as we are a house divided of the people. Tea party doesnt resally hav e a clue that smaller government or government noty in their lives will be government for those only who pay the most. The rest will be a forgotten society just as now the 99ers are. The conservative group will continue to feed the rich for their personal kickbacks received or promised and the Dems will continue to either learn to play the game or remain spineless to stand against corporate control.

WHAT DO WE DO?

[IndyFem]

09:39 PM on 08/13/2010

sueinmn...That is the big question, huh? So many of us KNOW the facts of what is going on...yet...how do we get anywhere from here? It is SOOO frustrating

[Janine547]

07:35 PM on 08/15/2010

I have an idea. Try going about your daily life and don't let things that you have little or no control over you eat you up. Being concerned about ones future is nobel, but little can be done to make the changes you expect to happen.

[jmdziuban1]

11:10 PM on 08/13/2010

That's the Ryan (R-WI) plan, introduced earlier this year as the GOP blueprint for the future. Eliminate all taxes, as quickly as possible. Privatize most, if not all, of Social Security. Eliminate medicare and medicaid, and replace them with healthcare voucher. Vouchers which diminish in value over time. In short, the privatization of the entire government, The military, the actual personnel and decision making abilities, will become available in the GOP's next 5 year plan.