hypratt

When It Rains, It Pours

Stop this Bailout. Since those of us who pay our mortages on time are really more valuable than thought previously. This whole mess started with greedy bankers and mortgage brokers offering obsurd rates and adjustable loans (some of which were interest only) and lent money to those who could fabricate any kind of income in order to make a purchase (greedy borrowers)

My solution: Reduce the interest rate by 1% on all existing mortgages thus lowering the payments for those of us who read the fine print and only but things that we can afford. It will also leave more discressionary funds available most of which would end up back in the economy and be a number higher than anyamount the a bailout could create. Then, let those companies fail that got themselves overloaded with all of this toxic crap

If you or I make a high risk investment hoping to make huge gains and it turns out that if something looks too good to be true it usually is there is noone there trying to make a backroom deal to save us.

All of this occurring just prior to an election and the alarm bells don't ring inside the brains of most of you.

This is probably too simple of a solution because there would be no way for the politicains, lobbyists and the over-compensated CEO's to line their pockets at our expense.

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.