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Federal Bank Bailout Program
"Made a mortgage payment--poof it's gone. I guess you could say we bought 30 days of shelter. Stimulus was just another part of the banking crisis bailout in my book."
Greg, 52, Realtor
Palm Coast, Florida
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Comments
I am surprised more people have not mentioned this. You are probably 100% correct.
Posted by: Daysie May 30th, 12:21
Sounds like you know how the world works. I'd guess that more than half of the stimulus went to banks, either as mortgage payments, debt payback, or financing charges on big ticket items (ie; new boats, cars, or jetskis).
What I want to know is whether it was enough? Seems like banks are still having a major liquidity crisis as everyone walks away from their loans.
Posted by: George Jun 22nd, 14:33