great idea....


but seriously, the main problem is 2 things......1. the banks approved people that they knew were being stretched to the limit financially.....for low rate variable mortgages....many interest only.....and gave them the BIGGEST possible house they could with no money down....

2. the people saw the nice "interest only payment" on a beautiful home that was way above their means, and because of the low payment, and low interest rate. they could stretch and afford it....so then rate jump, and suddenly my interest only payment is 200-500 a month more than it was.....because they didnt put ANYTHING downpayment on their house, and their paying interest only, they owe WAY more then they should.....add in the cost of fuel, and heating oil doubling for really unnecessary reasons, and you have a serious serious problem....

i do not agree with the bailout, i say let people learn from their mistakes.....banks and consumers alike.

the problem i have with the government is each party is too busy tearing the other party down to work together at a solution, instead they are just bitching at each other.