The banker described homeowners pleading to him for help, but he said his bank is not interested in modifying mortgages, even after taxpayers helped bail out the nation's biggest banks.
"It's just not happening," said the banker.
Wow ...... didn't see that comin'.
Here's some of the best money the government could spend: Have Uncle Sam buy all the depressed mortgages, and let taxpayers pay them off at 0% interest. Even at the inevitable high default rates, we'd still be better off than bailing out banks.
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