Financial institution is a monetary institution whose main activity is to behave as a payment brokers for patrons, and to borrow, lend, and, in all trendy banking techniques, create money. The one other answer introduced, the voluntary authorities programs, affords nothing new that homeowners and banks could not work out on their own. Basically, with all the voluntary applications that the government has already give you to “clear up” the foreclosure disaster, they’ve instructed owners “powerful luck.” Banks get direct injections of billions of dollars taken out of the pockets of common People, and the Fed provides to take the lenders’ defaulted sub-prime mortgage securities as collateral for brand spanking…