Do you realize how many people will go bad on their mortgages just so the fed will buy it and give them $10,000?
As we speak the banks own millions in foreclosed property. What are they doing to sell them? Nothing. These same banks complaining about cash crunch will not budge on the asking price of foreclosed property. If the loan was for $160000 thats what they want, even if the property is worth only $140000. This notion of bailing out the greed ofwall street is insane.