OK I've been trying to follow this whole financial meltdown, and it's way too complex for me. But.... I have an idea - just an idea that someone else would have to turn into a plan but...
I call it the Inigo Montoya plan (Rachel Maddow just did an Inigo Montoya on the air so....)
You keep using the term 'bailout' - but I don't think it means what you think it means so.... Since you killed my economy....
Here's my version of 'Bailout' - a 3 point plan
- It begins with the middle finger - you know, the bird?
That's what we should show those banks etc. that have brought this ruin on us. You get (next to) nothing.
- It moves next to 'main street' - and I like this part. Help those who have been taken advantage of - finance better mortgages and loans, on better terms, for those having problems. Make a streamlined application process, which screens out 'flippers' and such, and helps people keep their homes while bringing down the liability of those financial institutions that hold the loans... No - not in opposition to #1, buy them from those institutions for pennies on the dollar - make them an offer that they will feel they have to take, on an individual basis
- Shore up 'liquidity' - Bush, and others, claim that the lack of 'liquidity' (I think that means "Money to borrow or steal from someone else") is gonna hurt us badly - so shore that up... not through institutions that are causing the problem but through those that have been stand-up institutions during this time. Make sure that the profits are split, with 80% going back to the American people and 20% going to those institutions we shore up.
What do you think? I know it's simplistic but... maybe it's an idea that someone could use to 'shore up' their own plan.
(Oh - Inigo Montoya plan Copyright 2008 ME - Take that MS)
OK First diary so lay on the abuse :)