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Shell Games
Author: Raine    Date: 04/23/2018 12:56:25

A story broke last night that is getting traction this morning. From the Guardian:

The records link Hannity to a group of shell companies that spent at least $90m on more than 870 homes in seven states over the past decade. The properties range from luxurious mansions to rentals for low-income families. Hannity is the hidden owner behind some of the shell companies and his attorney did not dispute that he owns all of them.

Dozens of the properties were bought at a discount in 2013, after banks foreclosed on their previous owners for defaulting on mortgages. Before and after then, Hannity sharply criticised Barack Obama for the US foreclosure rate. In January 2016, Hannity said there were “millions more Americans suffering under this president” partly because of foreclosures.

Hannity, 56, also amassed part of his property collection with support from the US Department for Housing and Urban Development (Hud), a fact he did not disclose when praising Ben Carson, the Hud secretary, on his television show last year.


Late last month, Hannity’s mortgages were replaced with loans for $22.9m that were rewritten with Carson’s Hud and a new bank. There was no indication that Carson was personally involved in the process. Carson does, however, have the authority to allow Hannity from 2019 to convert the rental complexes into condominiums for sale, which could be lucrative for the television host.
Sean Hannity, posing as the guy who is blue collar just like his viewers, was actually profiting from the foreclosure crisis. He used a number of shell companies to do so. While he was railing about the evils of a special Obama Administration program HUD program, he amassed 870 properties under a program created to help people purchase low-income homes.

The Georgia mortgages supported by Hud were guaranteed as part of a program aimed at protecting investors such as Hannity who buy rental apartment buildings. The government promises to cover losses if borrowers default on their mortgages. Borrowers pay an insurance premium to Hud in return. Bigger loan guarantees are available if the building houses low-income families.

Hannity has praised Ben Carson (as the head of HUD) and tRump for wanting to privatize government subsidized housing.

From 2016:
HANNITY: And it's a big step for him. When Donald Trump mentioned yesterday -- and I was kidding around yesterday with Michael Cohen -- $2 billion, some guy in Dubai. And I said can you give him my number? I said I'm interested in that deal myself. So there really is a sacrifice. Donald Trump legally does not though have to recuse himself from his business. But he's doing it to avoid any appearance of impropriety.

It's one thing to want privacy, it's very different to be so secretive that no one knew about his conflicts of interest. We learned last week that Cohen claimed Hannity was his client. What else is he hiding? We know the FBI has been investigating Michael Cohen for some time and I have a feeling they know a lot more than meets the eye.

Buckle up! it's Monday!



13 comments (Latest Comment: 04/23/2018 21:45:01 by TriSec)
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