Americans face post-foreclosure hell as wages garnished, assets seized

[glenn1]

It really is hard to see banks getting bailed out and then going after the people. It's practically double dipping on loans. Propped up by government cash while still pursuing what put them there. Obviously there is a ton to take into consideration, but the gut reaction is very negative.

That was the government's stupidity for bailing out the lenders rather than the borrowers. Both would have led to the same end-state but both Bush and Obama admins decided to leave consumers out to dry. It could have insisted on consumer debt forgiveness as the price of the bailout but chose to acquire an equity stake in the companies for the Treasury instead. After the initial Sept/Oct 2008 bailouts the Obama admin could have changed course but doubled down by allowing the Fed to do the dirty work for them by pumping $500B into mortgage-backed securities and then Quantitative Easing 1 to infinity and beyond.