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Thursday, October 02, 2008

A Better Use for $700 Billion

Let's forget the increasing size of the bailout and stick with the original S700 Billion.

What else could we do with that $700 Billion to lessen the financial crisis of the banking industry? Hmmm...Wizbang offered a great idea, not to belittle them, but without requiring much effort on their part at all except a little common sense and a few minutes of time on the internet. Here's the link to the Better Plan:


Basically, what your leaders either won't tell you or are too stupid to understand - and either is a bad choice - is that there are 33 million first mortgages in America. With a $700 Billion charity fund, they could pay $21,000 on each mortgage. How many mortgages have, lets say...less than $75,000 owed on them? Glad you asked. Around 18,785,000. How much would it take to pay off those 18,785,000 mortgages? You guessed it - $700 Billion.

Now, why couldn't congress come up with something like this? And do you think paying off almost 19 million mortgages would help the housing and banking "crisis"?

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