They never lost a single penny from the foreclosures but made billions of profits. Course whatever they ask for they will pay a price to get it…except not to you.
Banks helped create the housing crisis, and now they’re seeking a new way to profit from it. As Bloomberg reported Monday, several financial and investment companies have submitted proposals to the federal government, suggesting ways that they can help manage a program to rent out 180,000 foreclosed homes.
Fair and affordable housing advocates are calling on the Obama administration to reject help from the financial sector, or at least limit its influence.
“It’s really a question of whether the banks that made so much money creating this crisis are going to profit again,” Jeremy Rosen, policy director at the National Law Center on Homelessness and Poverty, told The Huffington Post.