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Originally Posted by wiphan
It isn't that simple. without the bailout there would be HUUUUGE problems including a possible depression and it would affect the consumers/individuals, etc. in many ways. The government actually has a good chance to get paid back on a lot of the $ that they are using for the bailout. If the banking system,insurance,financial companies fail you would have a worldwide crisis and you would have problems in every aspect of business thus everyone would feel it. Unemployment at historic levels, etc. I don't like government stepping in and taking care of businesses issues any more than the next guy, but the ramifications of not doing something at this point would be devastating. If you would like a good chuckle on the mortgage crisis pm your email and I can send you a nice power point on the mortgage crisis.
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That's what would happen if they aren't forced to sell these houses to the highest bidders. If they knew they had to sell them, they would. They would rather wait for a sweet government bail out. They've been counting on getting bailed out(if they hadn't been, then they would of started selling these homes at bad prices to the highest bidders, and they would have money to loan again.) There is a money freeze, because they refuse to cash in their chips low. Force them to sell these homes to get money from people that have their money. Of course it's in their best interest not to sell them at low prices(and wait for a bail out.) They have a product. Make them sell their product in the open market. People will buy, but they don't want to sell low. Too fkn bad. Don't bail them out. Make them sell these houses.