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The federal government has established a $200 billion loan fund to rescue investment banks, a $100 billion credit line for banks and thrifts and recently provided another $30 billion to keep Bear Stearns afloat. Since all of these funds are tax payer money, the federal government should establish a $25 billion fund to rescue homeowners who are on the verge of loosing their homes through foreclosure due the subprime loans from the banking industry. If the federal government is going to rescue the creators of these loans, banks and investment banks with our tax dollars, they should save the victims of these loans, the tax paying homeowners.

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Petition sponsor

www.blackeconomiccouncil.org is the largest Black-managed online advocacy organization on economics in America. The mission of the Black Economic Council (BEC) is to promote the self-sufficiency of Black American and Low to Moderate Income (LMI) communities overall. The BEC through the use of existing alliances and strategic partnerships with nationwide community advocacy groups provides programs and tools that facilitate structured economic development with a focus on underserved communities. The BEC serves as an advocate for clarifying policies and practices, building economic infrastructures and key institutions, advancing financial literacy and streamlining access to both intellectual and fiscal capital.

 

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