Tuesday, September 23, 2008

A Simple Solution To The Mortgage Based Economic Chaos...

As to Treasury Secretary Paulson’s request for a $700 billion dollar blank check from the taxpayers: Absolutely NOT!!!

Yes, to a bankruptcy court’s ability to restructure debt secured by one’s home or property.

Property’s owner: keeps their property, if they are deemed fiscally qualified to pay the restructured loan.

Mortgage Holder: makes some money, less than they’d preferred, on the note.

Investors in risky ‘mortgaged-backed’ paper: get what modest return, or lack thereof, that one should expect from a risky investment.

Simple, straightforward and it costs the taxpayer, who wasn’t previously involved in any way shape or form, very little.

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