Where's the Money?

Our government has been bailing out the bank and mortgage industry for
over two months now.  Apparently, we have no idea what the banking
industry is doing with our money, so why don't we just give them more
money?  Our government is planning on throwing our money at the problem
and pray it gets better.

What the government does not know:  It is my professional opinion as a
real estate broker and CEO of a multi-million dollar real estate
corporation, that the banks are trying to make their books and balance
sheets look as detrimental and morose as possible.

I have seen, just since the first bailout, banks making decisions on short
sale scenarios that would make a ten-year-old's head spin.  It is
extremely apparent that the banks either have an intelligence quotient of
25 or they are trying to sabotage their own business in order to get more
gift money from the federal government.

Check out this smooth move.  JP Morgan Chase has a property in the process
of being sold "short." The appraised value from their own contracted
appraiser is around 270K.  The offer in play is 288K, and they said no to
it.  So we decided to throw more money at them.  Yes, another 15K, which
brings Chase's sale price to 303K on a property valued at around 270K.
Chase is reviewing the offer.

If Chase ends up turning down this offer, keep in mind, they will have to
pay an asset manager or real estate broker at least an extra 1% plus added
taxes, loss of interest, winterization bills, continued depreciation of
value, and the list goes on.

I have e-mailed our congressional representatives regarding this matter on
several occasions and have had no response.