Other big beneficiaries would be Wall Street banks such as Citigroup Inc., Merrill Lynch & Co. and Morgan Stanley. In fact, any company now struggling after years of healthy profits that pumped up their tax bills could benefit.
So what they are saying is that the people who took out mortgagaes were irresponsible and don’t deserve any relief….while the companies that gouged these people ruthlessly, get bailed out by OUR TAX DOLLLAR!
Wouldn’t it have been a lot simpler to refinance these mortgage holders into a conventional loan especially if they had been meeting their payments before the increase without problems? Then we wouldn’t need to bail out these corporations to the tune of TRILLIONS OF DOLLARS OF TAX RELIEF!