Foreclosures: Oh look, it was a robber baron land grab all along.

[TiberiusB]

17. Some fun with math

The Fed "loaned" some 24 TRILLION dollars to the banks. None of that money has done a thing to alleviate the collapse in the housing market.

Now imagine if that money had been given to the tax payers instead. The U.S. population is approximately 310 million (a little less, actually). That means each person would get close to $77,500. That could pay a $1500 mortgage for about 51 months or more than 4 years. A family of four would receive about $310,000, which could pay off most mortgages entirely, as fewer than 10% of mortgages exceed $250,000. The housing crisis would instantly evaporate and prices stabilize. Families with money left over could pay off credit card debt and perhaps even buy a car. What would an economy with greatly reduced debt, increased mobility, and dependable housing look like? Enemy #1, if you're a bank. Remember, banks thrive on your debt.

Compare all that to what the Fed and the Obama administration did instead. Remember to include the ongoing suppression of interest rates (basically free money for the financial sector) and the ongoing efforts to protect banks from consumer lawsuits over robo-signing and outright fraud.

And now, after squandering the opportunity to literally put millions of citizens permanently in their homes and do wonders to repair the economy, they want to take these underwater properties and rent them to you. Why solve a problem for everyone when you can endlessly perpetuate it for the profit of a select few?