I guess they are after that second $300 billion in order to stabilize the housing market.
The letter says Obama intends to use the Troubled Asset Relief Program to help community banks, small businesses, consumers and homeowners as well as large financial institutions. It says Obama intends to launch a "sweeping effort" to mitigate foreclosures.
I wonder if they are going to use some of that money to by foreclosed homes in order to get some of the supply off of the market. Once supply and demand evens out in the housing market then we will start seeing a real recovery.
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