Here's just an idea. I tried to pass it on to Nancy Pelosi, but apparently e-mail being what it is, my message was derailed. SO, if she's paying attention to things like this, maybe she can read this and see what she thinks. As usual, all my good ideas are free of charge and open to pilfering.
One of the biggest problems with the potential Bail Out is that as an American I feel like I'm funding the very same people who screwed up and I'm not getting anything in return. Oh sure, the potential for return on the investment of my tax payer money is decent, but what am I actually getting for that money? Any money earned will just go back into some nebulous government bank account to be used for something like subsidizing GM to build more SUV's, or something equally useless.
So here's my simple proposal... Any money gained through the sale of bad debt mortgages should be put in the Social Security fund so that we might re-fund Social Security.
Let's face it. Spending 700 billion bucks is a bit of a boondoggle. Getting anyone to agree to re-funding Social Security is also a bit of a boondoggle. Now we can kill two birds with one stone. We have to bail out bad mortgages. We have to re-fund Social Security. With one fell swoop, we can do both, and Congress can actually be seen to be doing something positive.
Voila! Lemonade out of lemons!
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