“Which will impact the economy in a more negative way: people losing their homes, or banks going under?”
Letting the banks go under what good has it done to bail them out? Millions still lost their homes and their jobs and they screwed investors to boot. On top of that we are still bailing them out through the GSE’s and it’s costing taxpayers Billions. Iceland let them fail and now they are well on the road to recovery. Besides you do realize who those big global banks had on their payroll don’t you? That’s right zero for years. Lloyd the vampire Blankenfein is a life long democrat and Jamie Demon is his favorite banker.
Title and link only due to copyright
Iceland Shows Ireland Did ‘Wrong Things’ Saving Banks
http://www.bloomberg.com/news/2011-02-01/iceland-proves-ireland-did-wrong-things-saving-banks-instead-of-taxpayer.html
Barack’s Wall Street Problem is Now America’s
http://www.noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas/
JPMorgan CEO Jamie Dimon Donates Serious Cash to Democrats
http://www.opensecrets.org/news/2009/07/jpmorgan-ceo-jamie-dimon-donat.html
JPMorgan Chase Asked to Stop Funding ACORN
http://nlpc.org/stories/2009/09/15/jpmorgan-chase-asked-stop-funding-acorn
Editorial: Bailed-out banks should stop funding ACORN
http://washingtonexaminer.com/opinion/2009/04/editorial-bailed-out-banks-should-stop-funding-acorn
President Obama’s Favorite Banker
http://www.economicpolicyjournal.com/2009/07/president-obamas-favorite-banker.html
Banks accepted and bundled ‘deficient’ loans
Mortgages rejected by due-diligence firm were lumped in, crisis panel says
I agree. Foreclosures are just a symptom; unhealthy banks and back room political relationships are the actual disease. Time to amputate both of them.