This is what Paulson is up to...Submitted by letushope on Wed, 10/15/2008 - 17:58
Just watched a CNN report where a Michigan family was profiled. They lost their home to foreclosure owing 109,000.00, the bank listed it on the market for 45,000 and when it didn't sell they auctioned it off to ANOTHER bank for 25,000.00.
Did the banks need the liquidity to re-buy properties at bargain prices. Hard to say, seeing that some were "intimidated" into it. But watch how many homes on foreclosure auctions get bought up by banks.