[NitroNutter]

But this is not the way to stabalize a false and grossly overvalued market, banks have put it into this area and cannot be trusted to not simply swallow up most of these funds and return cap in hand many times till the lull is over which may well be a long one.

The right place to direct this funding would have been to make it available to the various social housing organastions for those who wished to not lose their home and start again, the housing organisation gets first refusal to purchase the home at its devauled price before full repossion orders are sought, the MIG company takes up the slack to the banks as it would have anyway which would probably be a reduced liability under these circumstances as courts cost etc can be removed from the equasion, people in their homes get to stay in them as tennants or partial tennants with the possibility to buy back later when the markets have become somewhat more corrected. I dont see any other fair way to try and stabalize what has already crashed but just has not suffered the full impact of the shock yet.

Meanwhile the banks will post losses etc and will certainly have to do some cost trimming during this lull.

I really cannot see any moral substance to the propping up of potentially fraudulent 'long trading' beneficiaries in the way that has been done so far. Why should a potential 1.2 million families who could face a reposession and eviction in the near future from their hard worked for homes simply becuase of the way the banks have behaved in the last 5 years or so.