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Obama Program to Help Struggling Homeowners Wasted Millions Of Dollars On Parties, Fancy Cars, Gifts, Extravagant Dinners

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The press has never been so out of control and belligerent before the Trump administration. They will now do everything they can in an effort to undermine our President’s reputation among the American people. Especially CNN.

But when it comes to our former President they only report the things that are showing positive results about him!

Luckily we are here to report one huge news that the mainstream media failed to report when it comes to Barack Obama.

On February 19, 2010, President Barack Obama announced the creation of the Hardest Hit Fund (HHF), a plan to provide $1.5 billion in funds from the Troubled Asset Relief Program (TARP) to state HFAs in the five states (Arizona, California, Florida, Michigan, and Nevada) hardest hit by unemployment and foreclosure to help them administer new foreclosure prevention programs.

This initiative was expanded to include 13 additional jurisdictions that had sustained unemployment rates at or above the national average over the past year through June 2012. Participating agencies include the original five states as well as North Carolina, Ohio, Oregon, Rhode Island, South Carolina, Alabama, Washington DC, Georgia, Illinois, Indiana, Kentucky, Mississippi, New Jersey, and Tennessee.

All this was just a huge hoax, just as Obama was!

Judicial Watch today reveled a huge hoax:

Years after a scathing federal audit exposed rampant waste in a multi-billion-dollar government program to help the “unemployed or underemployed” pay their mortgage, the gouging continues full throttle. Public officials who operate the disastrous project, known as Hardest Hit Fund (HHF), have wasted millions of dollars on parties, fancy cars, gifts, extravagant dinners and receptions, gym memberships and luxury travel. Previous investigations have uncovered more than $11 million in wasteful spending at HHF for illegal things such as employee bonuses, lavish shindigs, expensive vehicles and superfluous data storage. The latest enraging figures are documented in a lengthy report to Congress that outlines how HHF continues fleecing American taxpayers.

Like a lot of government programs during Obama’s tenure, this one ballooned and kept receiving boatloads of cash with virtually no oversight. It started off as a $1.5 billion initiative focused on the five states with the steepest declines in home prices and grew to a $9.6 billion boondoggle encompassing 19 states and the District of Columbia. The money goes to mortgage payment assistance for unemployed or underemployed homeowners, principal reduction to help homeowners get into more affordable mortgages, and blight elimination and down payment assistance efforts. California has received the biggest chunk of money ($2.3 billion) followed by Florida ($1.1 billion) Ohio ($762 million), Michigan ($761 million) and North Carolina ($707 million). Nevada, which is notorious for mismanaging HHF funds, has received north of $202 million.

The Silver State is prominently featured in the last two corruption probes, including the most recent one conducted by the inspector general of another reckless Treasury gem, the Troubled Asset Relief Program (TARP), Obama’s catastrophic initiative to rescue the nation’s ailing financial institutions. In its quarterly report to Congress, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) reveals that Nevada’s HHF “wasted $8.2 million on parties, a Mercedes Benz and more.” The state also blew HHF funds on gift cards for employees, bar tabs, flowers, cash bonuses and employee picnics. Georgia mismanaged $18.6 million in HHF funds on similar things, the watchdog found, and other states did the same. This includes prohibited travel, luxury hotels, extravagant dinners and receptions as well as networking events with gifts, a carving station with a uniformed chef and a desert station of cake bites and strawberry shortcake martinis. “Wasted dollars harm taxpayers who fund TARP and consumers intended to receive these dollars,” the watchdog writes.

On a positive note criminal bribery charges were filed against multiple public officials handling HHF money, according to the Treasury watchdog, though it won’t stop the cash from flowing into the famously crooked program’s bloated coffers. Among them are an unnamed city official, land bank official and a contractor in Michigan and Ohio. “This is SIGTARP’s third audit finding waste and unnecessary charges in the HHF,” the latest report states. “Previous SIGTARP audits uncovered more than $11 million in waste and other unnecessary expenses.” When will the madness stop?


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