Fixing it.

[SoCalDem]

1) Bail-out for homeowners whose mortgage is no more than 3 times their annual income, and who put down at least 5%

........bail out would consist of a NEW appraisal... a realisic appraisal, and a "re-set" of the mortgage @ no more than 6% 30 yr fixed...4% 15 year fixed

People who put nothing down, and got a ridiculous ARM or interest only loan are not "homeowners" by any stretch of the imagination.. They have been "renting" a home they could not afford under any circumstances.

A 5% MINIMUM down payment should be required for home loans, and if you cannot do that, you cannot afford to buy a house..It's just that simple..no matter what the house costs. If you are living in a high-priced area, and you make diddly-squat for wages, you need to MOVE to where houses are cheaper..or you rent..
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2) Cancellation of ALL credit cards, and a re-application for credit..

........Maximum credit of 10% of annual income..maximum interest 12%... Application for credit must prove credit-worthiness and no solo credit cards for anyone under 21 (unless they meet the minimum income requirements)
........No more than ONE Visa, ONE Mastercard, ONE AmEx
........No more unsolicited "offers"
........No teaser rates
........TWO late payments within 12 months & card is cancelled

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3) ALL CEO's finances regarding these "failed corporations" MUST be exposed. Excessive compensation for running that company into the ground, MUST be recouped BEFORE any "deal" can be considered. Drug dealers have their "stuff" confiscated all the time..so do tax cheats. Embezzlers, scammers & ponzi scheme runners are not "special"...

WallStreet gamblers need to have their organizations FULLY AUDITED....BEFORE A DIME goes to "rescue" them..

It's apparent that these "investment corps" were too large to operate "cleanly", so they should be broken apart into single entity organizations, and undergo severe scrutiny..

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4) Real hearings, with REAL economists (not TV stock-pimps & appointed government money-hustlers) must be held, and the hearings should take as long as they take. We need REAL information, and we need NAMES. People named should be under oath, and held accountable for their complicity in this debacle.

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If these things are done, I could see the government "bailing out" certain segments of the financial world..

Rushing headlong into a "deal" made by a gang of thugs who are due to depart in less than 4 months, is just plain NUTS.... It's INSANE to allow the worst president ever, and his henchmen to steal money our grandchildren have not even earned yet.

[lifesbeautifulmagic]

1. I'd vote for it

sounds good to me.

[Overseas]

2. Item 3 is my favorite !! //n

[SoCalDem]

3. That's probably the least likely to happen

since lobbyists for the banking induistry are quite generous to both parties, and there are many secret money deals that would come tumbling out if they ever were really pressed to the wall and were in danger of being jailed, fined or even exposed..:grr:..This is the PRIME reason we MUST have public financing of campaigns and FREE air time on tv..take the NEEd for BIG BUCKS away, and suddenly there is NO reason for lobbyists to even exist...

realistic term limitataion would alleviate it too..

[TahitiNut]

4. I'd suggest that the owners (shareholders) of any 'rescued' bank lose their capital investment.

Zero out their equity and force the institution to recapitalize. (Sweden did that.)

[SoCalDem]

5. Yep.. when you gamble in Vegas, there's no one at the exits offering to repay you your losses..

gambling has consequences..