Here's my Cheap and Easy Bailout Plan....

[catnhatnh]

The Government guarantees every legal mortgage in the US for the next 15 months. No home in the US is to be forclosed on prior to January 1, 2010. Let the treasury disburse any funds as needed over that time period. Remember that in case of default the IRS are very good at withholding funds from deadbeat dads and chasing college loans...That gives us a full year to assess both the fairness of ARMs and how to recover costs. If a mortgager insists on high return on loans he can be excluded from the guarantee.

My point is that with not a bail-out, but rather guarantees tied to assets and the relentless reach of the US government itself, viable talks and bullshit walks...yes-we will eat a ton of bullshit debt...but at the end there should be accountability for both lender and borrower.

And I'll bet the home markets cost us "just" 10's of billions, not
seven hundred billion over that time...and our future should be directed by our next president.

[UP_4012]

1. BLASPHEMY!

How dare you consider that we re-build the financial system from the bottom up? FUCK THE(ex)HOMEOWNER! Don't you realize that the only way to solve this mess is to bail out the fat(er) cats that got us into this in the first place? The financial system can never recover until the retirements of our overpaid bank execs are secured by the taxpayer! And all of this talk about "real assets", and "responsibility". Rubbish. Take some risks, and socialize the losses, praise Jesus. :sarcasm:

[spag68]

2. bailout

I have a better plan and way cheaper. Buy a bunch of buckets and shovels and tell all the wall street theives to bail themselves out.