My bail-out proposal.

[JDPriestly]

Pay off all the bad mortgages. Just pay them off and issue new, longer-term, 50 or 99 years if necessary mortgages at low interest rates. Forgive all credit card debt that is more than 3 months in arrears.

The money that pays off the bad mortgages can be given directly to the current mortgage holders. They will be happy and out of the picture. The U.S. government will hold the long-term mortgages at low interest rates. The rates will at least be higher than the fed rate that is currently offered. The credit card companies will be happy. We simply start over. The one caveat should be that every cent paid to the mortgage holders for the bad mortgages must be invested in the United States to create good jobs for Americans. Not one cent of that money may be spent overseas.

How can we enforce the spend in the U.S. provision. Make the pay-outs contingent on the presentation of enforceable contracts with huge penalties for default proving that the holders are making the investments in the U.S. and in American jobs. In addition, make sure the contracts are enforceable for the long-term and cannot be sold on the market. The creditor who accepts the mortgage pay-out has to stick with the investment in U.S. jobs for the long term.

The Paulson/Bernanke will have insane effects on our currency. It will make things worse, not better. No one is talking about that. They seem to assume that the plan will help our currency. No. It will be just devastating, worse than anything that could happen if they just let things go.