M
MissDeviance
Guest
As it is, the proposed $700,000,000 bailout will cost every one of the 138,000,000 US taxpayers approximately $5.
But a bailout rewards the incompetence of government (who made the corruption possible), the bankers (who were happy to play along while they were making billions in the real estate market), foolish investors (who likewise figured they could buy a house for $500,000 and then sell it for $600,000 a year later), unqualified borrowers (who knew they were overcommitting themselves), and crooked CEO's in the affected companies (who were happy to give themselves huge multi-million dollar bonuses for allowing this to happen).
The US government CONSTANTLY sells bonds to raise money, and so does every single municipality, from states to cities to small towns.
So why isn't a US Government Guaranteed Bond being considered as the simplest solution to this problem, at a high interest rate (say 10%)vs. standard financial documents, and limited to US taxpayers only with a cap of say $50,000?
THIS WAY, honest, hard-working americans WHO PLAYED BY THE RULES, saved their money, waited on extravagent purchases, didn't get those home equity loans overreaching their ability to pay, didn't buy the "flip this house" investments, and have GOOD CREDIT and SAVINGS (which is what the gov always claims it wants to see more of) end up reaping the rewards for this fiasco?
If you have good credit, you qualify, and you can buy up to $50,000 of these special bonds. And it is guaranteed to pay 10% APR. And it is backed 100% by the US Treasury.
Guaranteed, WITHIN DAYS they would raise the $700,000,000 from TAXPAYERS who are willing and able to participate.
The economy would be stimulated, the problem would be solved, and the people who PLAYED BY THE RULES will FINALLY be REWARDED for their hard work and honesty.
It's been decades since Americans can get a sound and solid financial investment that yields double-digits.
Isn't this a golden opportunity vs. a problem?
If you have good credit, would you like to get 10% on your money (for lets say 3 or 5 years minimum), GUARANTEED INTEREST from the government?
But a bailout rewards the incompetence of government (who made the corruption possible), the bankers (who were happy to play along while they were making billions in the real estate market), foolish investors (who likewise figured they could buy a house for $500,000 and then sell it for $600,000 a year later), unqualified borrowers (who knew they were overcommitting themselves), and crooked CEO's in the affected companies (who were happy to give themselves huge multi-million dollar bonuses for allowing this to happen).
The US government CONSTANTLY sells bonds to raise money, and so does every single municipality, from states to cities to small towns.
So why isn't a US Government Guaranteed Bond being considered as the simplest solution to this problem, at a high interest rate (say 10%)vs. standard financial documents, and limited to US taxpayers only with a cap of say $50,000?
THIS WAY, honest, hard-working americans WHO PLAYED BY THE RULES, saved their money, waited on extravagent purchases, didn't get those home equity loans overreaching their ability to pay, didn't buy the "flip this house" investments, and have GOOD CREDIT and SAVINGS (which is what the gov always claims it wants to see more of) end up reaping the rewards for this fiasco?
If you have good credit, you qualify, and you can buy up to $50,000 of these special bonds. And it is guaranteed to pay 10% APR. And it is backed 100% by the US Treasury.
Guaranteed, WITHIN DAYS they would raise the $700,000,000 from TAXPAYERS who are willing and able to participate.
The economy would be stimulated, the problem would be solved, and the people who PLAYED BY THE RULES will FINALLY be REWARDED for their hard work and honesty.
It's been decades since Americans can get a sound and solid financial investment that yields double-digits.
Isn't this a golden opportunity vs. a problem?
If you have good credit, would you like to get 10% on your money (for lets say 3 or 5 years minimum), GUARANTEED INTEREST from the government?