Banks to benefit most from White House program to help fight foreclosures

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Joe Kawfi
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Joined: 07/20/2009

Banks to benefit most from White House program to help fight foreclosures

Housing experts expressed concern that banks, not homeowners, will be helped by the White House's $3 billion funding infusion -- $2 billion from the Treasury Department and another $1 billion from the Housing and Urban Development Department -- going to those states hit hardest by the housing market crash and unemployment.

"Giving money to the banks isn't what the government should be doing right now," said Dean Baker, co-founder of the Center for Economic and Policy Research. "I'm not a big fan; it's ill-conceived," he said.

When will people get it through their thick skulls that this 'president' and his administration do not care about helping people. They only care about staying in power by attempting to grow government to unsustainable levels. Their only desire is to make us into a nation of serfs and slaves totally dependent on government.

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