Avoiding bank failures and massive loan defaults. Both of these factors created or escalated the conditions that produced the Great Depression and the Great Recession. When banks fail and/or loans are defaulted this takes money out of circulation and out of the economy. Regulations need to be temporarily, and I stress, temporarily, relaxed so that loans can be extended or rolled more freely so that defaults do not have to be declared. Landlords need support from the government as well as tenants. Landlords depend on rent for income and to pay mortgages.
This type of assistance would be the first time anything like this has been attempted. But what we are going through now is a once in a 100 years plus event.
Contrary to popular opinion, banks and financial institutions do not want your house, car or property. They want the loans repaid. Landlords do not want to evict tenants. They want the rent to be paid.
This type of assistance would be the first time anything like this has been attempted. But what we are going through now is a once in a 100 years plus event.
Contrary to popular opinion, banks and financial institutions do not want your house, car or property. They want the loans repaid. Landlords do not want to evict tenants. They want the rent to be paid.
