Banks Receive Stealth Bail Outs

Sweet home Alabama
Oh sweet home baby
Where the skies are so blue
And the governor's true
Sweet Home Alabama
Lordy
Lord, I'm coming home to you
Yea, yea Montgomery's got the answer
 
It looks like you got some professional advice, and I can't offer much more except to say that F&F now hold anywhere from $30-$50 billion in foreclosed properties, which they would LOVE to sell dirt cheap. Here's their website and corresponding lending affiliate.

Fannie Mae REO Homes For Sale - HomePath.com

From a quick perusal elsewhere, it looks like demolition of foreclosed properties that F&F backed which have now become too decrepit to fix will come out of existing TARP funds remaining.

I wish there could be a program where some of these properties, if they're all concentrated in say a one-block area, could be turned into low-rent units and added to Section 8 availabilities where there is always a shortage of housing but never a shortage of people waiting to fill them. After all, the Section 8 program is already set up, so a whole new set of agency regulations wouldn't be necessary. It could also provide badly needed construction work in those blighted areas.

As for your question re the Big Banks, Wall Street traders, etc., still putting the screws to the taxpayer, more than a few experts have said that the Financial Reform Bill didn't go nearly far enough.
 

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