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Title : Using Your Tax Dollars to Bail Out the Same Banks That Will Foreclose on You If You Miss a Payment
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Using Your Tax Dollars to Bail Out the Same Banks That Will Foreclose on You If You Miss a Payment

The economic forecast for the nation is bleak as more and more of the biggest and oldest investment banks cave in to needing to sell. The very foundation of the most successful and powerful financial institutions are crumbling away and many of these corporations are seeking financial assistance from the U.S. government. But what help can be found when big brother itself is in severe debt?

Believe it or not, with the housing market in a slump, banks that foreclose on properties will lose much more than just the balance remaining on the unpaid mortgage. The banks will also have to contend with additional taxes of owning the foreclosed properties, as well as, maintaining the properties in the desperate hope that it will sell for a profit in the current market. This leads to large deficits for many large institutions that are already heavily leveraged leading to bankruptcy and failure themselves.

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