Yeah, that will work./sarc
If the banks all forgave the debt of every homeowner and auto loan borrower they wouldn’t have any capital to lend. No one would lend money anymore. The entire market would collapse. Not to mention that the money the banks lend out is actually the deposits they are holding for you and me. If every bank forgave the debts they are owed, then we would no longer have any money in our checking and savings accounts. The FDIC would be unable to pay every American for their lost depository accounts and poof.... financial armageddon.
Yeah. Ain’t it cool?
Hello from Elko! :-)