Bailout
For a government that espouses less government as a fundamental principal, their solution to the problems they help create are always big government solutions that follow the same dribble down philosophy that Regan promoted.
This bailout should be carried out from the bottom up. I don't think it would be all that difficult to find those who were given mortgages that lenders knew were unpayable. By shoring up those who have lost or are about to lose their homes, the economy will also recover. Banks will start to receive payments and the economy will move.
Throwing big dollars to bail out firms who benefited from irresponsible lending practices is not the answer. Ssome banks will fail; they should.
It's time to deal with this problem at a grass roots level, not a corporate bailout level.
This bailout should be carried out from the bottom up. I don't think it would be all that difficult to find those who were given mortgages that lenders knew were unpayable. By shoring up those who have lost or are about to lose their homes, the economy will also recover. Banks will start to receive payments and the economy will move.
Throwing big dollars to bail out firms who benefited from irresponsible lending practices is not the answer. Ssome banks will fail; they should.
It's time to deal with this problem at a grass roots level, not a corporate bailout level.
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http://tpmcafe.talkingpointsmemo.com/talk/2008/09/short-sale-then-rent-a-modest.php
A way to do it... very similar to what you're suggesting...
September 24, 2008 1:12 PM | Reply | Permalink