The housing bubble of the past decade was caused by the rampant greed of Wall Street and the banks that were complicit in the packaging and sale of worthless mortgage bonds. The Congress bailed them out. It is only fitting that those banks that got a bailout in the mortgage crisis now return the favor to the American people who financed their rescue package. The Federal Reserve has cut the interest rate it charges to banks to .025%, yet
those same banks are charging double-digit interest rates to credit card holders, and near double-digit interest rates for some homeowners and students who borrowed to pay for college.
Banks need to step up to the plate:
*Cutting interest rates on credit cards.
*Upping the credit limit for cardholders.
*Reducing the interest they charge for loans and mortgages.
*Providing mortgage relief for homeowners
*Allowing those with college loans to refinance to interest rates below 2.5%