To Bail or not to Bail?
This bailout to the banks is a real sore spot for most folks and why not, the banks are not using bailout money as it was indented. There is hardly a day that one doesn't read in the bottom line how bad their loses are, these are highly educated business economists and they are telling us that they did not know that some of the financial institutions had such bad financial projections? Before you buy there are swarms of auditors going over the books. What were they thinking?
They are purchasing other financial institutions to help their own deep pockets so that they can go back and ask for some more of the billions at their disposal. The government has no clue of the real disaster that faces most homeowners. Homeowners are not all to blame, it was the greed of many financial institutions and the rules to hook as many mortgages as possible, they thought that there was endless supply of future homeowners and if all fails the government insured mortgages would be protected.
I questions how willing banks are to work with homeowners, it's obvious to us that lenders are not trying to help the homeowner but minimize how much they can afford to loose. Where is the federal help for homeowners? Homeowners are losing in this deal and the banks are ... not losing anything. Banks comments are... "Our program is about affordability," not about mitigating bad investment decisions. I think it's about time for turn about is fair play, if banks make bad business decisions then they should not have bailout money. Is mine or your great grandchild's future being gambled away?