Singapore Home Loan and US Home loans

Joseph Stiglitz says it. Tax cuts are too big and too ineffective, but that is part of the political process. Republicans want tax cuts to please the people that finance their election campaign. Stimulus packages are too small given that Republicans hijacked a large part of the funds for tax cuts.

Given that so many people are now out of work, the key to prevent property valuations falling and make the economic situation worse is to help home owners.

Only when US gets well can Singapore recover.

Singapore could do with banks helping out Home owners in default or going into default with their home loans. This will help the market recover faster. Banks do have some responsibility regarding getting people into this current situation in the first place by lending money to people who otherwise wouldn't qualify for the home loans. Banks should ease credit and only to tighten in the next cycle of upswing.