You’ve raised some good points and I hope this provokes some really interesting discussion Scott. It was something I was pondering last week. I also have a limited grasp on microeconomics (so I’m looking forward to reading your responses), but it seems to me that by deferring mortgage payments, banks will be create more wealth for themselves with the extension of loan terms and therefore increased interest payments in the long run. So they are on a no-lose strategy here?
We’re all experiencing the domino effect that Covid is having on business; projects postponed and cancelled, companies hanging on to their cash instead of paying their bills leading to leases not being paid,etc – how about a positive/alternative set of dominoes lined up along side it starting with banks? What could they contribute as a caring and responsible corporate (which may lead to less or no profit) that looks after their customers, community and country they are operating in?

I would support a campaign to get a national conversation started. Good luck!