Instead of the government giving the money directly to the banks or purchasing the bad assets of the bank.  I think the solution is to give the taxpayers the money.  The taxpayers will then be able to pay on their mortgages the banks will be collecting funds again.  The small businesses that desire to expand and hire additional employees will be have the ability to follow through with those plans.  Consumers will have money to go out to eat, pay on their credits cards and whatever else they desire to do.  Our economy will be moving again.  Granted much money will be spent but it will have a much better effect on the over all economy than the government purchasing the bad debts of the bank.  People won't have any additional money to spend to get the economy moving again.  Just some thoughts.

United to Save America (USA)
P.O. Box 1050
Clinton, MD 20735
bridges2020@verizon.net



To:  The Nation and Whom It May Concern


Re: The Current Financial Turmoil in the United States of America

This letter is an unofficial offer of assistance to address the current and long-term financial turmoil being experienced on Wall Street and Main Street. This assistance comes in the form of some diverse changes that will benefit both Main Street and Wall Street for the foreseeable future. All of these points are also listed in a soon to be published pamphlet entitled, To Form A More Perfect Union. However, in light of the urgency of the financial situation, this portion needs to be shared immediately. The following steps will create stability and generate the much-needed boost to the economy.

1. Since bad mortgage debt comprises much of the debt on credit institution ledgers, the U.S. government must purchase these bad mortgages at a much-reduced rate. The federal government cannot pay fair market value for these bad loans. The loans should be purchased for no more than 50 cents on the dollar.
2. The federal government will then sell the purchased loans for 75 cents on the dollar to financial institutions in good standing and citizen-owned Mortgage Retirement Funds. This earns the taxpayers at least a 25% profit.
3. Citizen-owned Mortgage Retirement Funds would be pools of private citizen monies that will be invested only in mortgages that were purchased by the federal government and sold to the MRF, with the understanding that the rates on these standard 30-year mortgages would not exceed 7 %.   These will be safe retirement instruments for Main Street.
4. The Mortgage Retirement Funds must be certified by the federal government and run by quasi-government employees, with only annual compensation.
5. These steps will create hundreds of billions of dollars for the retirement of millions of Americans. These MRFs must be limited to only American citizens. The only ones to suffer under these steps will be the lenders who engaged in unethical conduct.
6. The credit markets will be freed of the mortgage burden and fair credit procedures can then be resumed.
7. Foreclosures should be drastically reduced and Americans will be investing in the homeownership dreams of their neighbors as a retirement and wealth-building instrument.



Respectfully,
Bill Bridges

McCain wishes they would choose another moderator
but trusts she will be the professional journalist
she is.  Yeah, right!  My advice to the senator:
Beware
I am hoping she is forced to step down and you
replace her as the moderator.  Sarah Palin needs
to get her groove back before the debate and she
needs a fair moderator like you and then she can
pull it off  

Phyllis Kunz

Tina Fey is FEY and should not be taken seriously
in politics.
Phyllis Kunz

My son who is 24 said to me, "so if we are paying for this bail out does that mean our taxes are going to go up? and I had to explain to him that our taxes ALWAYS are given in good faith to the government and we have no say in how they spend them, so for the first time the government is actually telling us what we are going to be paying for and NOW people are acting as though they are livid because they don't want their tax dollars being spent in such a way. To me it's hysterical, if we had any idea of all the stupid ways in which our tax dollars are spent and the amount allocated to that spending  we would be OUTRAGED, not livid. I don't recall anyone in congress or the senate asking if I wanted 10 billion a month of my tax dollars to go to the Iraq war.  It just seems so funny that we would give any concern to bailing out or "saving" this wall street dilemna, who cares, we don't have control of where our tax dollar goes anyway, why are we so concerned now?

Will you be there?  Or just the usual suspects,
which would be disappointing.

I'll tune in to the VP Debate and see

Phyllis Kunz

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