The Simplest Idea is Usually the Best
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I have watched with great interest, the news on the proposed bailout that failed. As a moderate Democrat, I wasn't too crazy about ANY of the proposals that have been made public up to now.
However, since my Daddy always told me that the shortest distance between two points is a straight line, then why not just use a much easier idea, with the same amount of money?
Take the $700 billion and instead of buying out the 'bad debt'.....PAY IT OFF!! Pay off the mortgages that have been difficult-to-impossible for homeowners to pay, and then the lenders will have their money back. But not the interest...just the principle. Then, after 6 months or so of allowing the homeowners to take a breath, allow them 10-15 year notes to the government without any interest!
Trickling UP always works better than down. Why give it STRAIGHT to the banks, when you could do the same thing by giving it back to them in the name of thousands of middle-class mortgage holders, who have been screwed six-ways-to-Sunday the last 8 years?
Obviously I am only a lowly salesman....but THIS seems MUCH more realistic and do-able than what I have seen so far!!
However, since my Daddy always told me that the shortest distance between two points is a straight line, then why not just use a much easier idea, with the same amount of money?
Take the $700 billion and instead of buying out the 'bad debt'.....PAY IT OFF!! Pay off the mortgages that have been difficult-to-impossible for homeowners to pay, and then the lenders will have their money back. But not the interest...just the principle. Then, after 6 months or so of allowing the homeowners to take a breath, allow them 10-15 year notes to the government without any interest!
Trickling UP always works better than down. Why give it STRAIGHT to the banks, when you could do the same thing by giving it back to them in the name of thousands of middle-class mortgage holders, who have been screwed six-ways-to-Sunday the last 8 years?
Obviously I am only a lowly salesman....but THIS seems MUCH more realistic and do-able than what I have seen so far!!
We don't need any more of that.I agree, let's pass it out to the people and let us decide what we want to buy and rebuild this economy so that business and government remembers that if the products and business operation are not liked by the public, they will fail.