Dear President Bush, Mr. Paulsen, and the members of Congress...
In 1982, Chile (the country , not the food) .... had a bank crisis that threatened the country future...
Here's what they did, .... 
- They made loans to banks with reasonable rates of interest
- The collaterlized the loans with stock in the company
- The recieved equity participation in the perfomance of the bank stocks
- No dividends would be paid to shareholders until loans where fully repaid
- No bonus paid to executives until loans were repaid
- The banks managed the assets, debt, with no governement interference
- some Increased regulation on banking reserves and lending guidelines
- No burden was passed on to tax holders
We clearly need to do something. And this is the only option that will satisfy (a majority) Democrats, Republicans and tax payers.
Let me know what you think, if you have other ideas, suggestions, criticism before I forward this to the powers that be.
James, Who is sensible enough to get a simple idea throught the maze of geniuses currently manipulating the smoke and mirrors? Care to carry the message?
I think we need to get rid of Hank Paulsen and his (ex-Goldman sachs) wall street ego and you should be Secretary of the Treasury. Great Ideas!
Loanetter - thank you for the vote of confidence. I was President of my 8th grade class, so I think I am qualifed to be President :)
James - good plan. you know its interesting. If the banks make a loan they , of course, require the house as collateral. So why should it be any different if we (the taxpayers) loan the banks money. We should take stock as collateral.
Of course, you want to keep all the profits. However, when it doesnt work out for you, you blame the government and want to be bailed out. The end of capitalism is upon us.
Mr. Adams - it seems that capitalism , in its current form, became a runaway train of greed and excess and lack of regulation. It is now in the best interest of the people that the government soften a recognized crisis; not bail us out from our mistakes. Hopefully, what will result is a revised form of capitalism in which responsibility rests on all parties. Not capitalistic Darwinism that is a survival of the fittest
Mr. Adams - although, we appreciate what you did for our country. The republican form of Capitalism has clearly not worked. It is time for a different party to try.
James,
This is to simple, the powers to be won't go for it. BTW, where is the pork? Remember nothing gets passed without pork.
James - well stated and they type of answer the public is looking for but will not see because it means they (the banks) would need to be accountable to us (the public).
I'm trying to garner some momentum for a write in campaign for President of the USA. Would you like to be the candidate? I see you have more experience than at least one of the candidates. lol
Don - we need some 'realtor' pork . maybe a guaranteed commission plan, no taxes for realtors and a healthcare plan ?
Judy - thank you for your vote. I am up to 5 votes (one being my mom). If I could include all the Realtors and mortgage agents (and the one's who are unfortunately no longer in the buisness) , I would have a shot. Clearly, my experience as my 8th grade class president is paying off :)
This does seem like a really sensible solution. Are you a secret economic expert??? Please say yes, we need some more reasoned thinking like this!
Thanks Rich - , but , no, not a secret economic expert.... just seems that maybe the sensible solutions (or part of the solution) does not require as much expertise as waht your leaders ego's would have us beleive
its about time that banks borrow money the same way they lend money. with interest and with collateral.