The US government has asked banks to enact a moratorium on mortgage foreclosures until the Treasury announces its mortgage plan. Citi has said it would and JP Morgan said it would impose a three week moratorium until March 6 as that should be enough time for the government to unveil it plan.
I love that. The banks have been forced to eat a lot of crap in recent months and some of them were mot major contributors to the problem. It is good to see someone push back for a change. Kudos to Jamie Dimon.