The question I have is once the banks sell their assets to private companies (backed by taxpayers) will they start to sort through their box of goodies? At that point, they have little to lose, since the taxpayers are taking the hit.

Does that mean if they have assets that include properties being defaulted, that they’ll finally foreclose on those who have been squatting for free for a year?

I mean, the interview made it sound that the banks don’t want it on the books, so if they don’t foreclose, the asset won’t be a loss. So they sell their assets to the privated tax-payer backed group.

Now the new holder has to decide what to do. Are they going to foreclose? Are they going to reduce principle? Are they re-working all the loans? Basically, they can do just about anything they feel like, b/c the buck stops w/the taxpayer