Proposition Bail Out

I watched the president speak tonite. It was a well prepared speech, but I came away feeling more angry and frustrated than before the speech. He attempted to sooth the catastrophe that the financial institutes created. He held none of them accountable, there seems to be no penalty for their grievances. President Bush's speech left me the impression that it was the Americans who bought the homes, the construction industry and so on that really triggered or created this fiasco.

When I sat down to think what he said, it became quite apparent that we "Americans" are providing the bailout and we are also the ones that will save the economy by rebuying and building. Do we "the Americans" carry a sign that says "kick me" or better yet "kick me twice".

Only there is a huge glitch, those who need homes, those who want to buy homes won't be able to be there credit is destroyed due to a foreclosure or credit requirements. The only ones that benefit again, belong in the "triangle" definition of triangle: The head, government, lawyers, lobbyists and political affiliates. Left corner, financial institutes, Ceo's and indepentantly wealthy. Right corner: The Industry enterntainment gurus.

So if you are going to propose a "bailout" let it be one that makes sense. So I would like to propose that you add to or use the following proposition .

Let the 700,000,000,000 billion be earmarked to actually create a result, instead of a "bailout" that will protect "the triangle"(see note on previous post).





WE the American people are the economy. It is the majority who purchase at the stores, buy gas, pay insurance, maintain the work force, pay local taxes that fuel the schools, law enforcement, and other civic responsibilities. The 5% who in the triangle bracket cannot survive without the garbage men, the postal workers, electricians and so forth that makes their lifestyle effortless. Yes they may have money but what is it worth when there is no one to pick the fruits and vegetables or manufacture toilet paper that wipe their butts. There I have created a solution that will boost the economy, that will put streets, communities and towns back on the map.


This proposal will put realators, construction workers, insurance companies, banks, stores and so on back into an immediate upturn on the economy.

Ear mark the 700 billion dollars to capture the homeowners who have foreclosed (since 2002) or will be forced to foreclose in the next 18 months.

Proposition Bailout

I. Every household that has a foreclosure or will default Be loaned from a special division the amount of the their original loan. Those who have foreclosed will be given the amount approved on their previous loan. Those who are in foreclosure will be awarded the amount of their total current mortgage loan minus any principle.



2. Each holding mortgage must provide documentation of the homes foreclosure or notice of. Each applicant will provide a current employment history, income statement and tax returns. They must be earning as much or more than the date mortgage was awarded.



3. They will submit application along with statements for processing.



4. There will be no credit verification used in process. (logic a foreclosure or pre-foreclosure has already dramatically decreased the credit score)



5. When the application has been processed (this process needs to be expedited within a time frame of two weeks upon receiving the application) the applicants will begin process of home purchasing.

A. homeowners who have defaulted will begin a new home search (homes are being sold through another homeowner do not qualify under program, to create a new economy the homes must go through channels of a realator, inspection and title company. Also all insurances, fees and closing costs must be included in the purchase amount.



B. Current Homeowners who are facing foreclosure will follow the same process for application. The amount awarded to them will be for the entire purchase price at time of application approval. The determined amount cannot include fees incurred through the mortgage company i.e. attorneys fees, additional interest or late fees. Computation on the amount owed will be actual purchase price minus amount paid toward interest and principal. Amount also will include insurance.



6. Payment will be made directly to institute holding the lien on the home.



7. Homeowners will be locked in on loan for two years.

Conditions of loan: a. Homeowners will have a two year NO interest loan.

b. Monthly mortgage will be determined on their current income and shall be no more than 20% of net earnings.

c. The two years will be a grace period where homeowners will have to work through a debt management program, raise their credit score reduce their debt to income ratio and maintain a perfect payment schedule.

d. At the end of their two year commitment it is proposed that the institute evaluate the contract and supply the homeowner with an affidavit of compliance. At this time the homeowner can submit this to all credit bureaus in which they comply to remove any or all foreclosure submissions and upgrade the individual/s with a new credit score. (You can appropriate a fee that must be submitted to each credit bureau)

3. Homeowner now has between the 2 year anniversary and the beginning of the 3 year anniversary to secure a legitimate mortgage.

(terms of acquiring a new Mortgage): Mortgage will be amount of current principal remaining on contract plus a 3% fee of the original loan given. (This secures that government is paid back in full and has acquired additional wealth). Mortgage companies cannot exploit, abuse or create exhuberant fees.



Please add to above, if the homeowner has not followed and gained a new mortgage at the beginning of their third year. The home will be sold to a mortgage provider with interest and a penalty fee.





Listen everyone, I know I am not an expert on the economy, nor am I a financial expert in any field. This is a very simple plan without all the legal jargon, big fancy words or calculations. It is not supposed to be. Common Sense tells me that if you have a problem attack the problem, fix the problem, not the creators of the problem.



I am sure that you the government, Senators, Congressmen, lobbyists, lawyers and so on won't even want to approach this concept. But quite frankly you need to. We the people (the economy) have no more to give and quite honestly when there is no toilet paper and you have to use old magazines or leaves you can blame yourselves for the economy going down the toilet.



Take into real consideration what really is going to make the economy move. We on the other hand will be watching how you vote and what you do? After all you work for us "The People"