Meltdown 101: Why banks' struggles have worsened - Yahoo! News
I found this article interesting, it verifies many of my concerns about the bailouts.... "There not working!" It also raises the question did we create zombie companies? We know we can't ignore the problem, we need to modify the strategy with dealing with the banks. Mr. Obama said recently that the economic recovery is not a true recovery until unemployment is under control. I think its not a true recovery until we get the banks under control and regulated. If we do not regulate lending practices we will be in real estate market with artificially inflated assets. We will pay more for housing then what it they are truly worth and eventually end up in the same situation again. Giving money to banks is part of the solution but it will not completely solve the problem. We need the Obama administration to crack the whip and get them to start selling these assets at a discount. This will trigger a massive real estate recovery and slowly and banks will eventually see profits in the billions, just how they like it. This will also help the average Joe be able buy a house and live the American dream within there means. A testament to this will be the tax credit, that created multiple offers for property during a recession. People want to buy, we just need help!! Citi group reported a profit last quarter and mainly because a better housing market. So maybe helping main street first is the answer and then wall street will profit! www.jmsrealestate.net
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