It would make a lot more sense to some form of TARP in the localized banks and credit unions who actually have a footprint in local communities, then charge them with the task of lending in good practice to build the local economies. Stop the closure of our regional banks, and fix what’s wrong with them, so entrepreneurs and small business can grow and pay it forward. So many Americans have lost life saving in big banks that gone bankrupt in a corrupt system, which allows the company to reorganize and leave its shareholders broke and penny-less while they bank payoff creditors and re-emerge with no debt, and shareholders are screwed. I think the U.S. should have a system where the big banks serve as mortgage holder, in a sense, for localized community banks. Furthermore, since the government practically owns Fannie and Freddie, I feel the housing crisis could be greatly diminished by having both these government entities rewrite mortgage to more affordable rates, and lower interest to people who can pay the debt in an attenuated time frame.
