hypratt

No Wonder the $700 Billion Bailout 'Deal' Failed

My solution: Lower the interest rate by at least 1% on all existing mortages. Instead of rewarding those who created this problem (the borrowers who are defaulting, the mortage bankers who sold these adjustable mortages, the companies the packaged and sold these "bad loans", etc. Then let those companies that hold all of this crap cease to exist. The economy would not melt down as those "Chicken Littles" are saying. By lowering the interest rate and thus the payments for the rest of us that pay our bills it leaves a greater amount to be pumped back into our economy than any amount of Bailout and at the same time we do not add to the debt that we will already have.

Let Bush and Paulson figure out another way of lining their pockets at our expense.