Government Aid

I think that government had made a slight mistake in giving financial help to the bank for mortgage debt. I think that if government had set aside the amount of the money they should have used that money to give it directly to people who were in trouble with their mortgages and sent them a check written out to the banks they owe money to and in return the owner would pay back the money to fannie mae or Freddie mae. I think this would have given a better circulation of the money that came into play and the banks will not have the power that they have today. They are not sharing the  money that is given to them to recover the housing slump. I don’t think this will get any better if the banks don’t stop and think that all the money which they got as aid was to move the wheel of economy not to sit and wait out the recession.  I wish something could change for good so the housing market gets back to what it use to be 10 or 15 years ago where the loans were hard to get but people were still getting loans at 5% down and for decent interest rate. Banks are getting money at 0% and they are lending at 4.7% making enormous profit on fee money. Does that make any sense. feel free to comment.

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