STOP ALL BAILOUTS! NOWWWWW! Govt. should use the money to buy ALL sub-prime mortgages. Much cheaper ...

[SeeHopeWin]

It is really that easy...This whole thing was caused by the bad mortgages, people defaulted, banks defaulted, governments are about to default.

There are only about 3 million bad mortgages out there...Buy all of them, own these homes, right FUCKING NOW!

People can keep making payments to the government (use Fannie and Freddy for this)...etc. Rate can be whatever people can pay, about 4% or so would work. Give them 40 years term if you have to...etc.

Doing this would: stop foreclosures, halt the slide in home values, pay the stupid banks some money for the bad loans, keep the poor people living there, stabilize everything....etc. One day, 2-5 years from now, the govt. can slowly start reselling the homes/loans - for a profit.

We need to stop giving money to this guy and that company....etc. MANY MANY more are going to fail, we can't afford it you stupid people!





:mad:

[hlthe2b]

1. God... what a friggin mess...

I don't want people evicted from their homes, especially those bamboozled into balloon payment mortgages or some other fraud.

I also do not want 3 million union jobs to be lost.

I also don't want those left outside both groups--who may have been saving for a house, which increasingly seems outside their grasp to be dumped on by landlords who themselves end up going into foreclosure.

I don't want our kids to loose their chance at college because there is no loan money.

I don't want the food banks to run dry because of the thousands of unexpected middle class patrons, who can no longer afford food for their family.

I don't want to go out in the Denver parks this winter (as I commonly do with my dog) to help police find homeless needing emergency shelter and find there is no where to send them.

I am depressed and feeling overwhelmed. Anyone else?

[LittleApple81]

2. They don't even know where those loans are anymore. Repackaged, inflated, resold...

That is why Paulson changed his mind. apparently he would not be able to find those loans ever again.

Read this article:

http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom