House Call

So if you think you're life is complete confusion
Because your neighbor's got it made
--Styx

A 3/25 Financial Times article suggests US banks are in talks with federal regulators re a proposal that would pay borrowers more than 90 days behind on their mortgage payment up to $1000 to seek independent financial advice and $20,000 in cash as a fresh start payment toward living costs in a new home.

Seems hard to believe. If true, folks might conclude that it is the banks' money; they can do with it what they wish.

But most of that money was obtained via nefarious means from the govt (TARP, QE2, etc). In fact, many big banks would have been vaporized without these programs.

Now on the table is using these bailout/stimulus funds to juice the housing market.

This would not private enterprise in action. This would be govt meddling writ large.

position in SH