I happened to catch a snippet of the news yesterday and saw that the 119th bank had failed this year. (This may be old news). There are probably some of these that needed to go under as the greed and lack of conservative practices seemed to in the mix this century.
It came to mind, what ever happened to forbearance. That is to to relaxes to percent of reserves that is required. With home equity slipping, there is only a loss when the property is sold or foreclosed on. America is still a great nation with hard working mortgage paying people. The suggestion is not to an accross the board lowering of the reserve requirement, but to put a sense of common sense in the formula. Banks are lending very little now. They stand to make huge profits over time. It seems they want mercy for them and justices for their clients. Stay tune for a slow recovrey.
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