Once the American oligarchs saw the ease with which they were able to loot the U.S. taxpayer via the banker bailouts and get away with it, they knew it was the perfect opportunity to declare open season on the general public. As such, the last several years has been little more than an ongoing crime scene in which the rich and powerful have relentlessly preyed on the poor, weak and ignorant with no remorse whatsoever.
Today’s piece is just the latest in an almost endless series of incidents demonstrating how the entire economy is systematically rigged to benefit very small group of people at the expense of everyone.
Bloomberg reports:
Who do billionaires turn to when they want to buy apartment complexes? The U.S. taxpayer.
Barry Sternlicht’s Starwood Capital Group and Stephen Schwarzman’s Blackstone Group LP are in talks with Freddie Mac to finance two transactions totaling more than $10 billion, according to people with knowledge of the negotiations. Those discussions come after the government-owned mortgage giant already agreed to back Lone Star Funds’ $7.6 billion deal to buyHome Properties Inc. and Brookfield Asset Management Inc.’s $2.5 billion takeover of Associated Estates Realty Corp.
“They wield a very big stick,” said John Levy, a principal at a real estate investment banking firm in Richmond, Virginia, that bears his name. “It takes more time and it’s going to be more expensive” to get transactions done without the two companies, which can lend at rock-bottom rates because their deals have implicit government backing.
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