WALL STREET BAILOUT DIASTER

Now that the 700 billion dollar Wall Street bailout, likely heading into the trillions, has failed so miserabely, and everyone is in the toliet, except Wall Street. What now?

I know it is a little late for my proposal back in 2008, just before we pulled the trigger, but now years later I heard for the first time on CNBC a  serious discussion on weather we should have, maybe trickled down. Instead of giving our tax money to Wall Street and the privledged morons who screwed everything up, Why not give it to us, the people.

The housing market which is at the heart of every American family has been destroyed, with no fix in sight, and the economy is in shambles. More American families go down daily. Over 25% of all homes are underwater. Some states that number is well over 50%. The fault is squarely on Wall Street with their insatiable appetite, for money and greed. They have fought for years and have received less goverment regulation and oversight instead of more, from the goverment they own anyway.

I know it's hard to imagine my proposal, way back when, and although controversal, here is how it could have worked. As I have said before instead of giving the money to the iddiots who got us here, the people would have been given the relief instead.

Although these numbers are arbitrary, and I wouldn't want to be the one to set the monetary amounts, in theory I believe it could have worked. I call it the Peoples Bailout Plan.

Lets say the average American family with a home, would receive a 100 thousand dollar credit, or maybe a percentage of their homes worth, reguardless their would be strings attached. 90% of that money would have to go toward verifiable debt, starting with their home mortgage. The banks would get their bailout, thru us, the homeowner, and we would have secured our biggest asset, our homes. Almost no one would be underwater, and the housing market, and the economy would not have collapsed. In fact it would have flourished. It would be fair to say the rich, would be excluded from this process, they just don't need the relief.

If you had no debt, or didn't use all your, let's call it relief money, you could put it in your pocket. Dinner and a movie would be nice. Our economy would have gone on boldly, while we took the time to address the Wall Street debacle, as we're trying to do now. If you wern't a home owner, I would pity the economist who was tasked to figure out a fair system for everyone else. Although I'm sure it would not have been perfect, the Wall Street bailout with their 600,000 dollar bonuses, was not either. In fact the Wall Street bailout was the stupidest thing we could have ever done. The American family lost, the economy lost, the country lost, everyone lost but Wall Street and the dumb shits who fucked everything up.

Can you imagine where we might be today, if the bailout had gone to the people, instead of Wall Street?

Oh by the way the expiration of the Bush tax cuts on the rich, along with the closing of Corporate tax loop holes, and to hold Corporations responsible to pay their fair share of taxes, would have paid for it all.   Any questions?