Banks across the country came hat in hand, accepting wads of hot sweaty cash from the Federal Reserve, with still over $300 billion to go.  And what are they doing with it?  Why - sitting on it, of course.  And paying out massive bonuses to the very execs who helped drive the economy to the brink of disaster.  And HUD's voluntary program languishes.

Perhaps the HOPE program should have been mandatory for these banks, if they wanted to actually see the cash.  Perhaps the Fed should, as one of the prinicipal investors in these financial bulwarks have demanded a clean sweep of the crew at the top of the management heap.

Perhaps it is all too late, and millions more will be thrown on the street by the end of 2009, instead of the banks taking some of the heat and risk for their risky lending practices.

HUDs HOPE Program Showing Little Hope -

HOPE For Homeowners was intended as a way for banks to refinance home loans without foreclosure - and no banks are participating.

Content Producer: W Thomas Payne
Published: Dec 24, 2008

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