Where are the refinance operations?

Well well well, the banks are making money again.
( http://www.cbsnews.com/stories/2009/07/17/business/main5167450.shtml )
OF COURSE THEY ARE, we bailed them out.

Remember that? The banks were failing, not just because of toxic assets, but because they made some bad decisions and then some more bad decisions, then they didn’t have the money to cover themselves, but we, with our tax dollars, propped them up and injected financing and kept many of them afloat.

But we did that for a reason.

That reason was mostly to help the American homeowner who, with the economic slump, was struggling with house payments, going into default on their mortgage, and getting evicted from their homes.

So those banks were supposed to do something with that cash infusion. They were SUPPOSED to start lending it again, and to work out refinance arrangements with the people struggling with mortgages.

Now, I’m in the San Francisco Bay Area, and while I’ve seen a lot of new bank signs going up to replace the ones that came down-basically the winners of the government give-aways replacing the losers, I’m not seeing that there are a lot of refinancing operations going full steam. I keep hearing and hearing and hearing stories like I’ve brought up here, poor customer service, refinance departments unavailable or not returning calls, etc.

So I just have one question-when do the banks take some of the money that they’re making again and do the job we-you and I and the other tax payers-have paid them to do?

Anyone?

Anyone?

Hmmm.

-Larry