Stop the mismanagement of the bailout. Here are the steps: (1) recover $700B, (2) mine IRS data for homeowners who are US citizens, (3) deliver $100k directly to each homeowner and citizen, (4) install new lending guidelines and requirements, (5) install glass ceiling compensation for Fortune 100 executives.
Results: rewards those who are fiscally responsible rather than irresponsible, stems foreclosures and enables banks to rewrite mortages on good paper, increases deposits and flows money into lending, helps local businesses via cash to potential customers, provides clear tranparency to "where the money went," sets a new baseline (bottom) quickly, enables those without mortgages or low mortgages to pay for college for thier kids.
This is not rocket science. The trickle-down initiative currently underway is poorly constructed under the belief that government is more responsible than the citizens it serves. This is simply flawed--just look at all the executives pandering for entitlement to $700B.
Bring governance back to government and accountability back to the people. We are not about not special treatment and special interests.
One note about the Big Three. This is absurd--go into bankruptcy, restructure, renegotiate with unions to bring salaries in line (from $78 per work hour to $40 per work hour). In the meantime, the mortgage plan above will reduce the average worker's mortgage by half, resulting in a smaller net change in cost of living vs layoffs.
I merely suggest that common sense rule the day, rather than common idiocracy.
Nov 19 2008 - 11:49am