Didn't we already try this by giving Banks large bailouts so they could rework loans, even though most did nothing but invest it as they pleased since there were no regulations or guidelines to how they used the money.
Banks are sitting on trillions in unused homes, if Chase bank alone flooded the markets with all the foreclosed homes they have at once it would drive prices down even more. The banks don't really care, the taxpayer already paid the cost of the home for them, it's just a double dip when they can sell them.
|