HuffPo: "Public Anger Growing That Fed Bailed Out Wall St But Not Main St"

[Amerigo Vespucci]

FED UNDER FIRE
Public Anger Growing That Fed Bailed Out Wall St But Not Main St

Dodd Muted On Bernanke's Renomination... Audit The Fed Effort Wins Support From Unusual Coalition... Economists Opposing Fed Audit Have Undisclosed Fed Ties... WATCH: HuffPost's Ryan Grim Discusses Audit The Fed Bill... FLASHBACK: Handwritten Notes Show Fed Oversight Bill Neutered...

http://www.huffingtonpost.com/

[icee2]

1. Arianna: what say YOU? n/t

[Ian David]

2. Jon Stewart hit it on the head the other night.

Why didn't the govt pay-down individual mortgages of home owners?

I had that idea over a year ago.

[SoCalDem]

5. Me too.. They could have issued "property-loss" vouchers

to be redeemed by banks.. as payments or pre-payments, or "catch-up" money...the mortgage holders would have seen some relief, and the banks would have still gotten the money..

The way they did it, was to give the banks money, with no strings, let them KEEP the mortgages, and the the home-buyers had grossly devalued homes with high payments they could no longer afford...and then the banks ended up with the houses too..to sit on and hold until the market improves, or to "write down" again later on for more government money.

The plan at first, was to PURCHASE toxic-assets. The government then could have negotiated new mortgages to keep people IN houses

[Vidar]

3. K&R

[EFerrari]

4. It's nice to see someone can still get their head up.