Federal Government intervening with REOs

[Account Closed]

I have heard from a source that the Federal Government is planning to buy out REOs from many of the larger financial institutions like Bank of America etc. The reason for this is due to the banks having to sell at such low costs. The banks cant handle all these properties they are acquiring and thus needing to sell low to get rid of the properties quick!
The Government is going to make an offer to purchase all the properties in order to sort of stabalize the effect of foreclosures on the Banks.

Has anyone heard something similar? Is this true?
I just thought i'd shoot out this question.