One thing the night shift specializes in is "radical thought".
I say we scare the craps out of the landed gentry, now that we are about the "own" billions in mortgages, thanks to the Freddie Mac/Fanny Mae situation.
Exotic loans require "radical" payback.
What we have is "billions" of nothing, except temporary title to little hunks of subdivisions scattered throughout the world. (Just doing a title search is going to run up billions of attorney fees.)
Why do we have to bail out banks and investors? Why not solve part of our homeless/foreclosure problems by simple non-usury, 5% interest, early payoff options.
Common sense to common problems.
This diary is just food for thought, one of those that might spark a bonddad or Jerome from Paris expose.
In the aftermath of the S & L bailout, banks started searching for lucrative opportunity.
The first was backing the Rapid Refund programs of tax preparers, getting away with up to 135% interest, they began living off the fees from the working class.
This has been second money transfer, along with the tax cuts for the rich.
ATM fees, bad check charges, pay day and car title loans, minimum balances, easy credit given to our dumbass kids.
The same brains behind these get-rich plans have their dumbass fraternity brothers in positions of power, and now THEY are going to take control of Freddie Mac and Fannie Mae.
I say this...if we find we now own 5,000 feet houses around country clubs, we do a social experiment.
Subdivide, or easier, allow a "commune tax credit", so a struggling extended family, of up to 200 square foot per occupant, be allowed to "move right in".
In other words, a law abiding, credit challenged group of 25 people could carve up that plywood/stucco structure.
We could move thousands, tens of thousands, of tent people, car people, repressed families off the streets for the winter.
We could also do the extensive re-regulation necessary to "do the biblically right thing"....
END USURY (especially those authorized by OUR government).