Tuesday, September 23, 2008
God bless you. This is a wonderful opportunity for the USA. It must not be wasted.
As a hard working middle-class, $90,000 taxable income, retired GE Engineer, I would like to be one of the first tax payers to offer $50,000 of my future taxes to buy, at auction, some portion of the troubled mortgages at the present value of their reduced, realistic, and adjusted close-out value.
The $700 billion estimate may be high or low, but even if the homeowners are given fair treatment, the value of the mortgages a year from now will far exceed the current rock-bottom price.
This is not only a solution to the credit crisis but, as advertised, an excellent investment for the United States of America.
This can’t wait for the election. It is up to you. There will be time for debate about how to change regulations and oversight.
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