Monday, November 16, 2009

Put it all together

Why won't the media put this together? We've all heard about the shadow inventory of foreclosed homes the banks are holding, maybe as many as a million homes. We've all heard about the massive profits the banks are earning this year. Unemployment is rising, housing prices are going up. Doesn't make sense. It does if you realize the banks are not selling these houses, therefore they are not realizing their losses. Eventually the piper needs to be paid, and I guess they want to do it slowly. More bailout money please.

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