1) We're spending tens of billions of dollars on a tax credit to get people to purchase homes. 2) We're spending federal money to keep them in their homes through the modification program. 3) And now we're going to pay them to move out of their homes.
we have this thing called "market forces." The govt should get out of the way and let them work. They only seem to make these type of things worse and more expensive.
Yep, greenspan got the the US economy quickly out of the recession after the dot com failure by keeping rates at historical lows which brought easy money into the system and caused the housing and credit boom and bust and here we are just 9 years later pumping the system again with 0% interest rates and easy money policies. Guess they didn't learn the last few times around. Remember the only way out of this credit crisis is through asset bubbles.