Help stop the Great Debtpression! Tell Congress to stop pissing away our money!!
Here are 6 important suggestions for congress.
1) Let Gov't fund mortgages DIRECT, banks only service them. It should be Every one's right to own (afford) a home.
2) Let banks fund OTHER things ie- Solar in the home is affordable if amortized over 30 years = new revenue stream for banks
3) Give EVERYONE (not just troubled loans) a haircut on their mortgages. Average it out dutch auction style...so for example, if it is determined that banks need to write down 60% of loan value = 60% less owed on mortgage for every current homeowner
4) Reverse TARP, and bailout., and let the weak banks fail but not before removing "mark to market"...should always have been "mark to hold date" Which means, if a bank commits to holding a loan till maturity then it is "mark to maturity" = TRUE mark to market
5)Gov't going forward should also have an equity stake (kicker) for ANYTHING it funds ...this reduces the burden on our children. A little bit of socialism is NOT bad.
6) No money for automakers unless shareholders get wiped out first. Gov't money MUST be senior.
Leave YOUR comments what would you have Government do differently?
Do you agree with this post? Then please DIGG it and let's let congress know they are WRONG.
Want to debate this further, you can find me here on Twitter.