Vote for this suggestion at the Obama Suggestion Box.

[lonewolf]

If you like it, vote for it. If you are not registered, register. Here's the link:

http://www.obamasuggestionbox.com/story ... curities-1

Look at what morons voted as the most important topic facing us today:

http://www.obamasuggestionbox.com/story ... leges----1

[lonewolf]

I see a lot of people whining, crying and moaning with endless rants about the imbecile Bush, the moron Obama and the idiot Bernanke, but nobody will even take one minute to actually try to do something about it.

100 votes will get this idea to the moron Obama's desk.

If you think its a bad idea, tell me why.

[JackANSI]

Sounds only slightly different to what happened in the first place and the solution in play. Only twist being the sole ownership and bankruptcy (disolving).

Tax payers are still going to get the bill, it just won't be as easy to keep track of how much goes where.

[Banned]

I see a lot of people whining, crying and moaning with endless rants about the imbecile Bush, the moron Obama and the idiot Bernanke, but nobody will even take one minute to actually try to do something about it.

100 votes will get this idea to the moron Obama's desk.

If you think its a bad idea, tell me why.

Kind of reminds me of the saying, "Everyone want's to go to heaven but nobody want's to die."

It doesn't matter who's in office. There will alway's be people whining, and/or bitching. If the other side won... and on and on...

[lonewolf]

Sounds only slightly different to what happened in the first place and the solution in play. Only twist being the sole ownership and bankruptcy (disolving).

Tax payers are still going to get the bill, it just won't be as easy to keep track of how much goes where.

No, completely different. There is no "bill" to the taxpayers except for a minimal amount of data processing and implementation costs. The original proposal you cited was for the government to buy ALL the MBS and then dissolve the MBS into individual mortgages. The government would own EVERYTHING at a cost of trillions.

This plan would mean NO bailout money to anybody. The banks either cooperate with each other or they are on their own to go whatever direction the wind takes them.

1st of all, you must understand the problem: MBS securities are illiquid and are nearly impossible to sell. The bailout banks have trillions of dollars tied up in these MBS. If the banks could sell the MBS assets, they wouldn't need bailout loans.

The solution: Make the MBS assets liquid by dissolving the MBS and trading the underlying mortgages individually on the open market. Unfortunately, because of their structure, this can only be done if each MBS issue is under 100% ownership.

In this scenario, the government just coordinates things and only needs to temporarily buy a minimal amount of shares as a buffer...like the market makers in the stock market.

The cooperating MBS owners (mostly banks) swap MBS securities between each other so that any given MBS issue has a 100% sole private owner. Once an entire MBS corporation has all its issues under this condition, the MBS corporation would be dissolved and the owners would take posession of the individual mortgages from the MBS issue, good or bad.

Individual mortgages, whether good or bad, are completely liquid on the open market. The sooner we get them on the open market, the sooner banks can free up trillions in capital and the sooner people can more easily refinance their mortgage or buy up foreclosures.

[songsmith]

I see a lot of people whining, crying and moaning with endless rants about the imbecile Bush, the moron Obama and the idiot Bernanke, but nobody will even take one minute to actually try to do something about it.

I did, last November 4th. The whining, crying and moaning is coming from people who don't accept how it turned out. --->JMS

[lonewolf]

I see a lot of people whining, crying and moaning with endless rants about the imbecile Bush, the moron Obama and the idiot Bernanke, but nobody will even take one minute to actually try to do something about it.

I did, last November 4th. The whining, crying and moaning is coming from people who don't accept how it turned out. --->JMS

The only things that differentiate a moron from an imbecile are communication skills and an IQ point.

I'm talking about the equal opportunity, non-partisan whining about bailouts and the markets. Forget imbecile Bush. Forget moron Obama. Forget idiot Bernanke.

I have yet to see a better idea to break the biggest iceberg in the recession. Geithner might like it because he would still get to be in the center ring of a very public exchange of trillions of dollars and not have to spend any taxpayer money doing it.

No matter who you are YOUR POLITICIAN SUCKS

well...except maybe Ron Paul...

[Banned]

I see a lot of people whining, crying and moaning with endless rants about the imbecile Bush, the moron Obama and the idiot Bernanke, but nobody will even take one minute to actually try to do something about it.

I did, last November 4th. The whining, crying and moaning is coming from people who don't accept how it turned out. --->JMS

I guess you did not bitch, moan or criticize George W. Bush during the last 8 years.

[JackANSI]

Hey, back off a bit man, its not his fault.. Its Obama's...

[lonewolf]

The saddest thing is that after all the comments, bitching, moaning and attempted gloating on this thread...

there are still no votes.

[songsmith]

I'm being facetious.
I think a major solution to the current problem is to stop all the bailouts. Stop them. Banks fail, too bad. Car makers fail, too bad. Let the people who effed up pay their price. The economy can absorb major losses, but there's going to be blood, and rich people will get poor. Too Bad.
As for unemployment, before laying off 2000 people, get rid of the goddamn CEO who makes 2000 times the salary, and the news will just say, "one person was laid off at Megacorp today," instead of an entire plant closing. Put some bank execs on skidrow, instead of guaranteeing their bonuses.
Send the automakers into bankruptcy, so they can get out of union contracts that give people $70k for sitting in a room. Cars will be substantially cheaper, and as long as they don't suck, the makers will be back stronger than ever (it'd be cool if they made something I wanted, too, just a suggestion).
Stop releasing new unemployment figures every day. Stop arguing about the economy so people won't have it in the front of their minds 24/7. It freaks people out, no damn wonder they're hoarding their cash. Release heavy numbers once a month, it'll still be relevant, but not panic-inducing.
Stop blaming a six week old gov't. They may not be helping, but we all know where it started. All the sour grapes in the world won't help anything.
Give Bernie Madoff the death penalty. I don't know what the price of a human life is, but my bid falls under 50 billion. He's the poster child for rich pieces of shit who think they deserve your money.

See, there are lots of things that can be done.--->JMS

[slackin@dabass]

As for unemployment, before laying off 2000 people, get rid of the goddamn CEO who makes 2000 times the salary, and the news will just say, "one person was laid off at Megacorp today," instead of an entire plant closing. Put some bank execs on skidrow, instead of guaranteeing their bonuses.
Send the automakers into bankruptcy, so they can get out of union contracts that give people $70k for sitting in a room.

unfortunatly with this plan, the people that are securing the bonuses and making the hundreds of thousands of dollars a year are the ones running the company. who is going to fire them? they're in charge! unless the government steps in. yes, more bureaucracy, please. because we all know how fast the government works (unless it's the I.R.S.). people keep saying "get the ceo's out of the businesses that want the bailouts" blah blah blah... THE CEO'S ARE THE ONES RUNNING THAT COMPANY! you can't fire them, only they can fire themselves. and as long as greed and corruption are prominent in this world, i doubt they'll willingly fire themselves.

the only people that can do anything is the feds. what are they going to do? "you made alot of money last year. you shouldn't have because it's illegal to be rich. your going to jail" what kinda sense does that make? if the government had their heads on straight, they'd do something... i dunno what. i can honestly say that i have no friggin' clue what to do about it.


maybe a federally funded big business lottery? they could do a big 4 for bailouts. today's numbers? "U-8-1-2"

[lonewolf]

I'm being facetious.
I think a major solution to the current problem is to stop all the bailouts. Stop them. Banks fail, too bad.

The whole point is that banks don't need to fail and they don't need bailed out either. They have plenty of assets--they just can't sell them in their present form.

Just shut up and vote.

[lonewolf]

OK! 1 person voted for it. Now we have some real momentum going.

[Ron]

It actually took me a while to figure out how to vote. You have to click on the number above "voted" where it tells you how many people voted. Not very intuitive. Lonewolf's suggestion is a good idea.