I wasn't talking about the senate alone. Those people would pass there own mothers if it meant getting this problem off their backs. I was talking about that the bill will NOT make it into law. The House will once again blow this up. There was never gonna be a problem with the senate. If I confussed you or others in that you thought I was talking about the bailout package will not pass the senate, I apologize. As I said above, I was talking about it will not pass into law.
Here's a thought. I think if they took that $700 billion and spread it out to tax payers, it would mean that each man, woman, and child will get over $2500 each. Since the problem is that there is bad mortgages out there, those that would have sayyy a 3 or 4 person family would then have enough money ($7500 for 3 person family, $10,000 for four family house and so on and so on.)to make those payments for a few months at least. In turn, the lenders would get the money any way. But in this case, they would get there 700 billion via payments AND then be able to use the money how they deem fit. That way it gives every bank that's in trouble time to fix their problems without giving them a free pass. They would get there money, it would just take a few months to get it.
Also, the consumer gets a break in that they are able to make their mortgage payments for at least 3 months in most cases. Some more and some less. But in this way it will help them increase their credit rating thus giving them better terms for future loans. Also, any of the homeowners that deem it necessary to sell their houses, will then have the time necessary to sell it AND have the incoming home buyer be flush with cash so they don't have problems when they get into the house.
How does this sound as a proposal.
