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I keep wondering why, with the price tag of the bailout thrust onto the backs of the American public growing ever larger (rumored to be 2-3 Trillion when all is said and done) and the bankers walking away with all our public cash there are not more calls for this "bailout" to be given to mortgage debtors (simply since the mortgage crisis is the major reason were in this situation) in order to help pay down this debt and in the process clean up/reset/zero out the balance sheets of these banks and at the same time release the American public from this foreclosure debtors prison... I mean cancel out all the mortgages that are causing problems or perhaps since its taxpayer money divide the 2-3T by the 300 Million American citizens and then have the banks apply it to every every citizen or head of household with a mortgage (if you dont have a mortgage you just get the cash or something to that effect). I would see it as a win/win....
I know, calls for moral hazard and all that jazz but i see no less a moral hazard as giving the banks all the money and still leaving the public in compounding interest debt to the same banks who just took all of our money! We keep hearing how big this crisis is and how it will require "out of the box" thinking yet all we keep hearing or seeing is more of the same clowns.... No one seems to want to address the root cause we simply keep attempting to fix the symptom (the dying banks)...
And please don't misunderstand me; I'm not into giving out money for free; but I'm simply saying IF we have to do it then let it help the public as well....
Call me naive but i view public money as sacrosanct; the only use for it should be on public needs (roads, public services and the occasional - when the entire citizenry fucks up and is on the verge of collapse - bailout fund)... It absolutely boggles my mind at the idiocy of it all.... Were giving away our public capital (really just getting the govt into MORE debt).... At this point we simply become debt slaves with our own money.... Were giving our public money so that banks can continue to profit, lend and enslave us at interest with our own money (sad thing is after taking our public money to stay afloat, the interest on individual debt to the banks still compounds, late fee after late fee)....
If that ain't the slave handing his master the whip i don't know what is....
IF our public money has to be used to "save" the system.... WHY cant this money be used to cancel out these debts? Could it possibly be that the American public has no lobbyist fighting for our cause on capitol hill or is there some more innocent reason that i/we just fail to see?
In addition - iTulip admins or folks in the know: I'm also wondering if perhaps the reason that may not be possible is bc of the fact that our "money" is predicated on debt? If they wipe out that debt would it somehow shrink our money supply? How about inflation? If you wipe out that debt; would it be a helicopter ben free money scenario?
I know, calls for moral hazard and all that jazz but i see no less a moral hazard as giving the banks all the money and still leaving the public in compounding interest debt to the same banks who just took all of our money! We keep hearing how big this crisis is and how it will require "out of the box" thinking yet all we keep hearing or seeing is more of the same clowns.... No one seems to want to address the root cause we simply keep attempting to fix the symptom (the dying banks)...
And please don't misunderstand me; I'm not into giving out money for free; but I'm simply saying IF we have to do it then let it help the public as well....
Call me naive but i view public money as sacrosanct; the only use for it should be on public needs (roads, public services and the occasional - when the entire citizenry fucks up and is on the verge of collapse - bailout fund)... It absolutely boggles my mind at the idiocy of it all.... Were giving away our public capital (really just getting the govt into MORE debt).... At this point we simply become debt slaves with our own money.... Were giving our public money so that banks can continue to profit, lend and enslave us at interest with our own money (sad thing is after taking our public money to stay afloat, the interest on individual debt to the banks still compounds, late fee after late fee)....
If that ain't the slave handing his master the whip i don't know what is....
IF our public money has to be used to "save" the system.... WHY cant this money be used to cancel out these debts? Could it possibly be that the American public has no lobbyist fighting for our cause on capitol hill or is there some more innocent reason that i/we just fail to see?
In addition - iTulip admins or folks in the know: I'm also wondering if perhaps the reason that may not be possible is bc of the fact that our "money" is predicated on debt? If they wipe out that debt would it somehow shrink our money supply? How about inflation? If you wipe out that debt; would it be a helicopter ben free money scenario?
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