Mitt Romney to Nevada Homeowners: I Want You to Lose Your Home
Here’s what Mitt Romney had to say to the Las Vegas Review-Journal Editorial Board about what his plan is for Nevada homeowners:
Report: Romney profited from mortgage lenders foreclosing on thousands of Americans
From Center for American Progress Action Fund:
A ThinkProgress examination of Mitt Romney’s presidential personal financial disclosures from May 2011 reveal that the former Massachusetts governor and his wife own or owned millions of dollars worth of a Goldman Sachs investment fund invested heavily in mortgage-backed obligations. And the current owners of those mortgage debts began foreclosure proceedings against thousands of Floridians.
Along with his investments in Bain Capital funds linked to offshore tax havens, the Romneys have large investments in the Goldman Sachs Strategic Income Fund (institutional class). The firm’s March 2011 annual report for the fund notes that about 8 percent of the fund is invested in banks and 24.5 percent is invested in mortgage-backed obligations. Romney’s form says he has invested between $1,000,001 and $5,000,000 in the fund and his wife Ann has invested an additional $1 million-plus. Since the 2008 economic meltdown and the enactment of the Troubled Asset Relief Fund, this fund has done quite well, growing 7.88 percent between April 2010 and March 2011.
As noted in the article above, the Romneys have large investments in Goldman Sachs. It should also be noted that…
“Goldman Sachs Takes on a New Role”
Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.
Foreclosure Nightmares: 3 Families Fight for Their Homes
NEW YORK (CNNMoney) — With more than 200,000 households receiving foreclosure notices each month, there are bound to be a few mistakes. But for some unlucky homeowners, these blunders carry some serious consequences.
What Mitt Romney's Economic Plan Looks Like
“2011 was the most difficult year the home building industry has ever been through,” Dennis Smith, president of Home Builders Research Inc.
Foreclosures in Las Vegas, a gallery on Flickr.
Foreclosed homes don’t just hurt the homeowners, they hurt whole neighborhoods.
Photos by lvforeclosuretaskforce
Mitt Romney Likes to Fire People
Mitt Romney told an audience recently that he “likes being able to fire people who provide me services.” Nevada is a service based economy; how many of us is he going to fire and enjoy doing it?
What People Are Saying About Mitt Romney’s Tax Returns
“Romney tax returns show he’s no average multimillionaire” - USA Today
GOP presidential contender Mitt Romney isn’t just in the top 1% of America’s highest earners — he’s in at least the top 0.006%, tax returns he released Tuesday show.
“Mitt Romney’s tax returns highlight tax code’s breaks for the rich” - L.A. Times
The documents underscore how Romney, the wealthiest candidate to seek the presidency in recent history, has benefited from a tax code that lets investors pay taxes at a much lower rate than people who earn wages or salaries.
“Mitt Romney’s Tax Return Problem” - Washington Post
Mitt Romney’s release Tuesday of his most recent tax returns — showing accounts in the Cayman Islands and Switzerland, no visible signs of a job (but earning $20-plus million a year), and a tax rate of just 14 percent — have been great fodder for his opponents and the media.
