When Does The White House Push for Bank Write Downs.

[rsmith6621]

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Almost 30 percent of mortgage holders are underwater (what they owe on the house is more than what it is worth). Foreclosures are sky high for the foreseeable future. With middle-class families' biggest financial asset by far being their house, and home prices low, while foreclosures are high, it means middle-class assets are being decimated. And with no one buying homes, it means no one is building homes either. With the housing sector as huge a part of the economy as it is, as long as these kinds of trends prevail, we are not going to make the economy work well for the broad middle class.

http://www.huffingtonpost.com/mike-lux/our-economys-best-chance_b_872129.html


The taxpayers saved the banking industry now its the banks turn to save us.

[flpoljunkie]

1. Was surprised to hear Chuck Todd say today economy won't get better til banks write down these loans

He's right. President Obama needs to ignore Geithner and make the banks write down these loans. His future depends on it, as well.