TARP funding should be credited to loans in default
I am still wondering why the TARP funds are going directly to financial institutions instead of the federal government paying on behalf of borrowers ...more »
I am still wondering why the TARP funds are going directly to financial institutions instead of the federal government paying on behalf of borrowers in default. That way, fewer homes would have been foreclosed upon, the housing market wouldn't have taken such a huge hit, and the bureaucracy to administer it would have created plenty of jobs doing something positive.
Undoubtedly, the general public might have been uncomfortable with their neighbor's mortgage being paid by Geightner, but so were they outraged by the bailouts. At least this tact would have salvaged taxpayers' home values.
And yes, I am current on my mortgage.
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