So..... is it over?

I like your heart
We all are striving to do something!!!!

I still believe if the government stays out
Lowers capital gains
Allow some our wealthy investors to free their money from over seas banks and reinvest in our country
Its works in the past
Allow the rich to get richer, heck if Mr Joe Blow makes millions risking his cash by opening a factory and hiring 500 people great
But slapping his hand because of so called windfall taxes isn't all that motivating
Sure nothing will be perfect
But every good option includes the government staying out

 

They should convert to 50-year mortgages for the recession period. Help the buyer, increase the bank's receivables, then force a refinance back to a 30 when the market reaches a set of goals.

 

I agree with that 100%, but that ia not going to happen. The money will be spent. The question is how to make the best out of a bad situation(the bailout money). I happen to believe the plan I stated will take this bad situation, and return the most for the lowest expenditure.

 

Wont work
The problem is way to many people were taking out interest only loans
With giant balloons and the end of their arms

A 50 year loan is pretty much the same thing interest only with maybe a few bucks every month going to principal

It was a false economy people were taking full value loans and spending the money

 

Ha, Ha, ha, I heard a joke, that said,

The best type of person that could run this country as President,

is a Taxi cab driver, barber and trucker.

They hear it from all ends.


I HAVE to Agree with STRANGER!

THIS COUNTRY! BECAUSE WE RELIED TO HEAVILY ON OPERATING ON CREDIT ONLY, THAT MADE THIS COUNTRY THE SUPER POWER OF ALL COUNTRIES.
BUT NOW LOOK AT US.
AND WE'RE GOING TO RELY ON CREDIT , TO GET US BACK ON OUR FEET?
A DOUBLE WHAMMY.

 

That would hurt the banking system, especially hurt would be the banks that used common sense. If the bailout money is used as I propose, the banks will get all their money back at the orginal terms of the loan.

One major problem is irresponsible walking away from mortgauges they can afford, simply because the value of their house has dropped. My feeling is if you bought it, and can make payments, you keep it and pay for it.

That is nothing more than stealing. Anytime we make payments on a new car we are upside down, but a lot of home owners want to stick a bank, that made a good faith loan, and buy or rent a different house at a lower price.

I'm sorry, either stick it out, or take the loss. Don't be a thief and leave the bank holding the bag.

I'm talking about people who CAN make their payments, not those who have lost jobs, or been hit with sudden sickness, or other tragedies.

 

I'm not accounting for walk-aways. I'm not sure why someone who could make the payment would do that, as it would curse their credit for anything else from that point on. Shooting themselves in the face just to stick it to the bank.

My suggestion is only for people who really can't make the payments, help them weather the storm.

 

AND Who's going to help them Weather the Storm????

If I knew of anyone, I would have been able to save our house of 22 years.
My husband got sick for over two years. We lost our house due to taxes.
I couldn't pay everything when my husband was down. I just couldn't do it. There was no help out there to be found.

 

Sorry about your house!!!!

In the good old days, that we all reminisce about going back to the great depression
Family took care of family
And if you didn't have family
You went on welfare, which wasn't a life style but a humiliating experience that you removed yourself from as soon as possible

 

One more point before I have to go out for a couple hours.

What kind of thinking does it take for someone to take out a 200K+ mortgauge at interest only terms, to reset in 5 or so years to 7+%. That is insane.

The bank that made that loan knew it was doomed to fail, even if the poor sap who took it out didn't. How the sap would'nt know is beyond me.

These banks made those loans knowing they would fail, then packaged them and sold them off until the card house fell in. The CEOs then walked away with their golden parachutes. Take Countrywide for an example. A more crooked mortgauge holder would be hard to find.

This is why I so strongly detest the bank bailout the way it is written. At least the way I think it should be would help those who have mortgauges they are trying to pay. Those that let their house go back would have to buy another one to qualify for the full 80% mortgauge portion. Renters would maybe qualify for a smaller percentage.

I would have to put pencil and paper together to work out the specifics on that one.

I wish I could go on tv for an hour to give a speech, and have charts to explain in detail my ideas. I could do like Ross Perot. People might think I'm crazy, but they would have an alternative plan to ponder.

No one has been able to get any alternative plan out to the people, as the press is only able to focus on the plan before us now.