Reply #48: The government must step in to the credit breech.

[ashling]

I am suggesting that it can be done in a more direct way by empowering the government, under the appropriate agencies, to either insure private loans of necessity (i.e., for operating expenses, payroll, responsible business expansion, student loans, etc.) or making direct loans where the prospective lender cannot get private funding.

This would ease the credit crunch that you are worried about and allow us time to sort out the mess at the top. That 700 billion could be put to use immediately where it will do the most good.

We agree that action is needed now. I'm just suggesting a different approach.