Here's a simple, practical, economical solution to the current financial "crisis":
"1) Mandate the renegotiation of the terms of all non- or poorly performing mortgages to a reasonable and fixed rate of interest.
3) Require each bank to analyze the loan portfolios they hold to determine the good, the bad, and the ugly.
4) Require the banks to present this information to the Government under oath with the threat of prosecution if the information has been falsified.
5) Allow homeowners to stay in their homes so long as they begin paying under the new terms and continue to act in good faith on their payment schedules.
6) Add any outstanding balances to the back end of the loans.
7) All of the above can be done without the Government actually purchasing the loans from the banks."
Read the post to see how it solves the regulatory and "executive overpay" obstacles as well...
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