After watching several of our Governmental pinheads stating that 'we must do this quickly' I noticed one underlying factor.

Every single one of them cited the bad mortages as the cause of this.

My suggestion - Instead of bailing out the companies that were stupid enough to take on this bad debt.

Just pass a law giving the real estate in question to the occupier. That occupier would then have extra moneies to spend on the economy. The pirates on wall street that have delibratelly over priced all real estate to puff up their books would no longer have bad debt on their books and could go about fleecing some other lambs.

I think all the fat cats who got the bonuses for the loan performances from previous times should be responsible for the capital injection to renovate the real estate fiasco, personally. They received, they approved in underwriting, so they should be responsible in that manner to return on the investments they made from the origination fees and interest income.

That would be socialism...Wait that's what they want to do to the banks...I agree with you if your gonna spend the money anyway why not do so people could stay in their homes..I wouldnt go as far as paying their mortgage off but let the gov hold the paper and work with the people...They would continue to pay property taxes, that helps the states and the market would rebound faster...JMO I own my home...

DP

WOOHOO!!! Grab some siege supplies and ammo!

I am laying claim to the...ummm deciding what bit I want!

haha It's mob rule and survival of the fittest!

I know that's not what you are saying AdventureBegins...I just thought it was fun to say.

Has anyone thought what fun it might be to let it all crash and burn? Divide that $700billion up (and that is likely a lowball estimate) among working, taxpaying Americans and let them stimulate the economy from the bottom up. They could pay on mortgages and buy durable goods all that good stuff right?

Let these bastards who made poor business decisions face liquidation of their assets and foreclosures.

How about some trickle up economics this time. We've been trickled down on too much already and guess what...it smells like piss to me.

I agree let the market go bust and start over..But if your gonna spend the money anyway might as well make it work...

Main point I am trying to make is that this 700 billion... ooooo let me say it again.... 700 BILLION.... he he he... it rolls off the tounge like honey.
700 billion should be used to actually fix the problem at its root, not at the top where short sighted money changers have allready theieved it from us.

When your house is broke you fix it at the foundation first else any other repairs are doomed to fail.

Of course I for one hope NONE of our politicians are stupid enough to actuall allow this to pass.

If they wait long enough the truth of all of this will come out (i.e. FBI investegations on Fmae and Fmac which are happening at this very moment).

Makes me wonder why they need this so darn fast.

Interesting, but because I make my payments I have to keep making them?

The interesting thing is that if you take the 1.5M homes in foreclosure and multiply that times an average $250K price, that bailout would only be 375,000,000,000.00.

That's $375B...

So why does Wall Street need $700B? It's irresponsible leveraging on top of leveraging... House of cards.

I agree..The numbers don't add up...They say %10 of homes are in foreclosures or delinquent...The mortgages are spread over more than one institution..What business couldn't take a %10 lose and still not be solvent???

Well, we've seen it from this administration before.

9/11! We are under attack! OMG give me more power or we are doomed!!

Terror! OMG give me more power or we are doomed!!

Weapons of mass destruction! OMG give me more power or we are doomed!!

Financial collapse! OMG give me more power or we are doomed!!

Congress has acted before thinking each time.

What's next? Bend over ladies and gentlemen!

I hope those, both democrats and republicans who are standing up for some accountability, regulation, are successful in adding adding some teeth to this that will protect those of us, who are paying.

Like I said in another thread. Those money managers and CEO's? Liquidate their assets and throw the money into the pot.

I have another question on this matter..Is the goverment gonna take care of the up keep of these homes? I see $300 to cut the grass!!! Where do I put my bid in!!!

There ya go!

Another subject people seem to happily ignore. Houses require a home owner to keep them from falling to pieces.

Have you seen pics of the mountain lions making themselves at home in a CA resting on the garden walls? (cool in a way but..) or the waste high weeds in yards of foreclosed homes?

A very long time ago, when homeowners bolted from the cities to the suburbs they used to call it urban blight!

Where are the people going now?

Mortgage Blight?

Ownership is a powerful tool. It invests each of us in the community and in each other. If it's my money I want to invest in ownership...for working families.

We are our own best bet even when we disagree.

Dr.Paul was on the Situation room the other day and he stated that it should be allowed to collapse, thats the nature of the market.
He went on to say that it's inevitable that the monetary system is going to have to be changed and that it seems like the Government is going to go that way, but his next statement is quite frightening and intriguing at the same time, he said the important question is when it is restructured will it be under a free and open society or under Authoritarianism and by the the fact that our Government is bloating at a uncontrollable rate, it doesn't look good.