Once again Barney Fake and the Change Master are using their Harvard and Yale buddies to roll these point less and super $$$$ programs that make for good sound bites on the national Obama Media.
Don't get me wrong;"Don't call me Busch beer didn't help solve anything either.
Let me throw theses three ideas out to everyone on how we could have solved some of this current mess:
TARP 1 Money should have been directed by Congress to the banks;" You will use this money Only:To lower loan rates and put those on Neg Arms and non fixed products and subprime loans into Con 30 year at current par rates.
Second idea:For as much money that was issued to Wall Street and Banks instead could have been issued to TAX Paying US Citizens and used to buy down mortgage rates or mortgage principal reductions.If the person had no house payment they could use it to buy a new house or the money woud be issued in another format.
The program would be set up where the money could only be used in this manner keeping the tax payer from blowing it on something like I don't know like a photo op with Air Force One flying over New York City.
Third idea:Doing nothing and let the market take care of it's self. Wait that last one sounds to much like common sense!!!!!!!!!!!!!!!!!
But what do I know I didn't go to an Ivy League school.
I'm hoping you read my column all the time... and if you don't I hope you'll consider doing so. Actually, I'm thinking you could take over writing it when I'm on vacation. Thanks for weighing in. Mandelman
they would just state their price. Don't be shy! Go for it! We can take it! Be straight up with the American people. Schedule a sixty minute tv special. Tell us you're shaking us down, state your extortion figure in trillions, and then say something dramatic like "And if we don't have the money by sundown...America will end as you know it". It works, we've lived it before...(except it was billions). You won't even have to tell us the percentage split between the banks and politicians.
But then...you'll have to promise to fix this housing crisis.
You see...until we vote out all the politicans that support continuously giving the banks money (with no strings attached)...IT'S HOPELESS.
they would just state their price. Don't be shy! Go for it! We can take it! Be straight up with the American people. Schedule a sixty minute tv special. Tell us you're shaking us down, state your extortion figure in trillions, and then say something dramatic like "And if we don't have the money by sundown...America will end as you know it". It works, we've lived it before...(except it was billions). You won't even have to tell us the percentage split between the banks and politicians.
But then...you'll have to promise to fix this housing crisis.
You see...until we vote out all the politicans that support continuously giving the banks money (with no strings attached)...IT'S HOPELESS.
The mid-terms, babe... the mid-terms... I'm preparing a page that will who voted for what... and which are the closest races. Some will only require a few thousand votes to toss the loser out. I'm not playing here... we will make a difference. We will MATTER.
State their price - I know my loan (for me it's $364, for the hedgefund in the Cayman Islands looking for deed it's only $75k because they bought it at 23cents on the dollar from Fremont). So knowing that, now what can I do? My fight with the "fund" (and that's being generous) is that they allowed sale of property while under new agreement with servicer and won't rescind. Got a lawyer, getting it rescinded, getting my new loan (yes, I was even offered a new loan after foreclosure date by same investor to write down to $260k) but they are still foreclosing??????
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