Senate Republicans Tell How Credit Crunch Affects Americans

[Jinfin98]

B. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down. This is not a time for envy, and it�s not a time for politics. It�s time for all of us, as Americans, to

stand up, speak out, and fix this mess.

[Jinfin98]

III. CAPITAL GAINS TAX

A. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous�and immediate�liquidity in the markets. Again, this costs the taxpayer nothing.

[Jinfin98]

2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don�t do their jobs.

C. This backstop will cost less than $50 billion�a small fraction of the current proposal.

[Jinfin98]

B. In order for a company to accept the government-backed insurance, they must do two things: 1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage.  a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.

[Jinfin98]

A. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.

B. In order for a company to accept the government-backed insurance, they must do two things: 1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage.

[Jinfin98]

The Common Sense Fix by David Ramsey

Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three steps:

Common Sense Plan.

I. INSURANCE

A. Insure the subprime bonds/mortgages with an underlying FHA-type insurance.

[karen32862]

Work it out NO BAIL OUT! Call Nancy Pelosi @ (202) 225-0100 & let her know you want Congressional hearings investigating the mismanagement of Fannie Mae and Freddie Mac. Tell her you want answers from Barney Frank and Chuck Schumer. Ask her why Franklin Raines and James Johnson were allowed to cook FM books enron style without being held accountable. Ask her why her democratic party refused reform of these entities in exchange for campaign donations.