Name and Shame,bailouts etc do not work! The president should bail out the public and heres how; instead of going for top down bailouts try bottom up bailouts.
700 Billion dollars to homeowners with mortgages. If we had a national bailout where every mortgage holder (behind,underwater or paying it off on time, or in forclosure) is put into a lottery style pick. Now it would have to be for mortgages that were held by a certain date say Januay 1,2010 for example. If your social security number is called (oh by the way you must be an american citizen) then up to $700,000 of your mortgage would be paid off. (if you have a 235,00 mortgage then it is free and clear you do not get the overage. This will help at least one million home owners if they all have 700K mortgages. Most likely it will help 2-3 million Americans and it will stimulate the economy because a caveat to the deal is that you must purchase an American made and American owned manufacturer car/truck within 6 months of receiving the bailout. Tell me what you all think about this versus another round of big bank bailouts. Of course we would have to examine if it should be allowed for second homes,spec houses, and investments. Also, if the recepient should be allowed to sell the house for two years unless work moves etc or llife changing events.
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