Government plan to relieve homeowners should save banks billion...

Full story: Chicago Tribune
Most banks will end up losing much less money handing mortgages over to the government than they would if the loans defaulted and the homes went into foreclosure. Read more

“Full service, discount broker”

Since: Apr 08

Chicago, IL

#1 Jul 29, 2008
Hmm. One of two things has to be true here: 1) The banks could have refinanced these mortgages on their own without the government's help or 2) The government is agreeing to take on losses from these refinanced mortgages. Either way I don't like the way this smells.

Plano, TX

#2 Jul 29, 2008
The bill should be renamed... "The Pass on the bad loans to the taxpayers so that the bankers can get back to getting ridiculous bonuses bill"

Chicago, IL

#3 Jul 29, 2008
Yep. Private profits and socialized losses.

London, UK

#4 Mar 26, 2014
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