New Bailout Plan includes provision for 50% reduction in monthly mortgage payments

[polpilot]

The New Bailout Plan to include a provision for allowing every existing mortgage to be converted into a new 3% fixed 50 year mortgage administered by now government owned Fannie Freddie Group. This will effectively end the rush of foreclosures and turbo charge the U.S. economy. Example: An existing 15 yr. 8% $300K monthly mortgage payment of $2,900 will be reduced to $965/month. Massive, immediate help for financially strapped U.S. citizens.

Implementation would include self addressed stamped envelopes at all U.S. post offices addressed to the Fannie Freddie Group which would verify mortgage payoff amounts and mail homeowners their new 3% fixed 50 year payment books. Downside-None Upside-Turbo charge U.S. economy with a 'by the people...for the people approach. This would effect change on Every Street...Not Wall Street.

[The Traveler]

1. Is this real? n/t

[polpilot]

14. Could be. The U.S. Treasury opens the fed window for 2% to investment bankers but it remains closed

to U.S. citizens. Time for a change. Pass it on.

[polpilot]

119. ..

..

[Lorien]

2. Link? n/t

[polpilot]

26. No link. Send to Every repub or democrat opposed to current $1 trilllion giveaway.

[Eric J in MN]

3. Link? NT

NT

[PVnRT]

4. Link please - whose plan is this?

[polpilot]

15. Could be Our Plan if we demand it now. 'We' now own Fannie/Freddie and it's about time this

government represents the people.

[polpilot]

65. ..p

[madrchsod]

5. ya right..the real hud plan goes into effect oct1

[polpilot]

20. HUD plans are moronic. Require new appraisals, new credit checks, virtually no one qualifies.

The 50 yr. 3% plans requires NO APPRAISALS, NO CREDIT CHECKS. They are on EXISTING mortgages that we are on the hok for already. This changes many of these potential foreclosures into good loans.

[flvegan]

6. Whoa! What plan is this?

[polpilot]

16. Should be Our Plan. The 'We The People Plan'. Now. Pass it on.

[pimpbot]

7. I would hope not

FIFTY YEAR mortgage?! Yea right.

[polpilot]

19. Why not? Average length of time for U.S. homeowner before sale/6 yrs.

The 50 yr. mortgage will stop foreclosures and immediately increase home values throughout the U.S. Instantly.

[Stinky The Clown]

8. Dude ........

..... pass that shit around.

[polpilot]

79. ...

....

[polpilot]

100. nn

[polpilot]

112. ..

[leftofcool]

9. Gee, where was this plan when I still owed money on my home?

Nice of the governemt to wait until I spent 30 years working hard (sometimes 2 jobs) to pay for it, and now that it is finally paid for, to offer to give me a reduction.

[ContinentalOp]

11. This plan isn't real.

And if it were, you should refinance your house right now and take out all of the equity you can because 3% is less than inflation!

[polpilot]

23. Wrong. There will be no cash out feature to the plan. Existing only & refi bal. only.

[anigbrowl]

58. Well, I guess that nicely fucks everyone who rented and didn't take on debt they couldn't afford

But since you're trying to pass your idea off as established fact, I guess I'll just call it a troll.

[polpilot]

62. ???

O.K.????

[ContinentalOp]

10. Uh... where do I sign?

Nice idea. Never gonna happen. 50 years? So Fannie Mae would hold every mortgage in the country? Because at 3% I'm pretty sure every single American with a mortgage would want to switch instantly. I know I would.

[polpilot]

24. We've open the fed window (Taxpayers window) for 2% to investment banks. Why not 3% to save

the failing economy & end the skyrocketing foreclosures. This plan, as it benefits the U.S. taxpayer/homeowner only, does indeed seem bizarre. It is simple, it works, and it can be easily explained as it benefits Every Street...not Wall Street.

[ThomWV]

12. And where, pray tell, will the money come from to refinance all of these mortgages?

[polpilot]

27. Same place the $700 billion bailout $$$$ comes from. The Fed's Magic Money Machine.

[Kittycat]

13. I need a link on this.

Don't believe it for a second.

Our house payment would drop 48% (doesn't count our insurance or taxes). If this is the case, I would do the 50yr refi just to get the 3% rate, but continue making my current payments. Then we could pay the house off in 15 years vs. the 30 I'm currently locked in at (we're 3 years in to a 30 yr loan at 5.875% interest).

[polpilot]

22. I have the exact loan 30 yr./5.875, into it 2 years. I've been in real estate brokerage, licensed

appraiser 20+ years.

[marlakay]

84. I have a 5.75% loan for 15 yrs

and if we were allowed to change I would and like you said i could pay off my loan in 7 yrs if thats so as I have paid in 2 yrs on it. I wonder if they will let you pay ahead on it?

[Crabby Appleton]

17. Bullshit

[Roland99]

18. 50-year notes? Welcome to Japan.

[fla nocount]

21. Link, pl.s n/t

[polpilot]

25. No link. Send this to every financial news desk you know and, of course, your representatives.

I use that term representative very loosely.

[fla nocount]

30. Darn. I just send them my idea to reinstate FDR's New Deal

with a Woody Guthrie midi of "This Land is Your Land..." I don't want be a pest, I'll let this set a day or so. Besides, I gave up home ownership when I took my Janus Fund bath, where do I dip my beak?

[LibraLiz1973]

28. There is NO LINK to this because this is the OP's idea

Not a horrible idea, but please, in the OP you should have mentioned that this is an IDEA of YOURS... not something they are really cooking up.

[polpilot]

29. I neither know or care what 'op' is. UR right it's not 'a horrible idea' it's an amazing solution.

Not one post here indicating a real problem with this solution. This immediately impacts every neighborhood in the U.S. and provides billions of $$$ for the U.S. economy. It's not a handout for the top 5% of 'money people' and herein lies the problem. The U.S voter has no input into the debate in D.C. on this 'bailout'. I welcome the critics of this plan.

[LWolf]

53. "OP" = original post.

The post you began the thread with.

[Raksha]

31. Is this a serious proposal?

I can't think of anything that would stabilize the economy faster. It's hard to believe Congress could be seriously considering something like this, though. Too many people (even some on DU)are still stuck in the mindset that it would be rewarding "deadbeats."

[Raksha]

32. K & R

I just read the replies and realize it's your own original plan. Congratulations--that's absolutely BRILLIANT! I will copy it and send it to my Congress critter and Senators.

[librechik]

33. if it helps "people" we know the Pukkkes will vote against it.

"Hey, those po folks bought that shack from ME! And I was askin TWICE THAT!!
No way the gubmint gonna cheat me out of my money!"

[Dr Fate]

34. Reduction? What about a full on bail out, like they are giving the millionare bankers?

Why cant people with morgages just get a plain old bail out?- the bankers on Wall street arent asking for a "reduction" in what they would owe- they are asking for a bailout in the form of cold hard cash.

Seems like the fair equivalent to handing $700 Billion to millionre bankers would be to help PAY OFF struggling people's mortages, not just a mere "reduction" in what they already owe at the moment.

Also, what if the tax payer is not a mortgagor, like me? I need this package to help me too.

Granted, I'm no millionare banker or stock broker- but I need the government to bail out my student loans. $80K is what I owe, and the creditors ring my work phone off the hook.

This talk is a step in the right direction, but is there going to be a bailout for regular old people who are under crushing debt- or am I supposed to continue to wait to be trickled on?

[polpilot]

41. You're exactly right in that there has to be non-mortgage help, also. Perhaps a suspension

of interest (0 %) on the type of loans you spoke of as a beginning. Hopefully one intelligent step in the right direction will precipitate others. We must have a 'by the people for the people' approach and it must be directly to the people.

[LWolf]

52. While you are at it,

a full bail-out would include a bailout for those individuals in bankruptcy.

[polpilot]

56. Extending help to those who need it most would be a cornerstone to this.

[renate]

35. I do hope people are thinking creatively about the next bailout plan, so I gave it an R

And, I guess by writing this, a K.

It sounds good to me, although I freely admit I know as much about economics as McCain does.

[polpilot]

40. Thanks.

[smiley_glad_hands]

36. If this isn't real, then you effing suck. eom

[polpilot]

39. Thanks for the intelligent & helpful comment.

[smiley_glad_hands]

43. Thanks for the ruse. eom

[pokerfan]

37. Why not make it 1% for a hundred years?

That would make the monthly payment $395.59!

:bounce: :bounce: :bounce: :bounce: :bounce: :bounce:

[polpilot]

38. 5 yr. treasuries are 3.12% and 30 yr. treasuries are 4.12%. 3% 50yr. are reasonable as they

stem the foreclosures & turbo charge the U.S. economy. They make sense & are less expensive than the alternation $1 trillion Giveaway/Throwaway.

[Geek_Girl]

42. that would be nice to see

nt

[Matariki]

44. That would be a smart solution if it's real.

The treasury would get it's money back, mortgages would be affordable to more people, and the extra money would probably get pumped back into the economy.

Lenders would lose though, if everyone converted their mortgages.

[marshall]

45. A 50 year mortgage?

Why not just sell your firstborn to the mortgage company and be done with it, because your children and possibly even your grand children will end up paying that off.

[polpilot]

47. Historically no. Average length of time in one's residence is 6 years.

[ProgressiveEconomist]

46. Unintended consequences of 50-yr mortgages: There's a good reason 30 years is

the usual maximum mortgage length. For a young couple who buy right after marrying, a house with several bedrooms is ideal if they plan on having children. But children grow up and leave home, making maintaining and paying taxes on more than one or two bedrooms a financial albatross for the couple 20-some years later. With a 30-yr mortgage just about paid off, the couple will have accumulated enough equity and capital gain to downsize into a smaller home for cash. That's a good thing, since their earning power will have peaked and retirement will be in sight. They sell, move out, and another young couple moves in.

Imagine instead that the couple would have bought with a 50-yr mortgage. When the last child leaves home, there may not be enough equity to finance a downsized new home for cash. So the couple could be forced to stay on. After twenty-some years of inflation, a 50-year fixed mortgage payment likely still will be affordable, even on a pension or Social Security. So the couple may stay on, paying huge extra property tax and maintenance costs, for rooms they no longer need.

Meanwhile, the supply of homes appropriate for couples just starting out gets more and more restricted over time, forcing many couples to delay marriage for years of frustration, and forcing many other couples to raise children in overcrowded apartments. That's what's likely to happen when mortgages run on too long.

[polpilot]

48. The premise of staying in the same home for 5o years is wrong. Average time is 6 years in U.S.

The primary concern is the value of the home over 10...15...25 years. This implementation will increase the value of EVERY home in the U.S. now.

[AntiFascist]

49. This would be a good idea as long as...

we could make optional payments at any time directly toward the principal, and there is no early payoff penalty.

[polpilot]

50. Absolutely. This would be a 'by the people ...for the people' program.

[LWolf]

51. Hmmm....

If I currently have a 5.78% fixed 30 year mortgage, which I've paid on for 3.5 years, and I convert it to a 3% fixed 50 year mortgage....

What will it cost to convert? Fees, points, etc., and what will I pay upfront, and what will be added to my mortgage balance to pay interest on for 50 years?

How much will my payment go down, and, while I'm paying less each month, how much more interest will I pay in the long run than if I'd stuck with the 30 year mortgage?

Just thinking. 50 years is a hell of a long time. Why not just convert every existing mortgage to 3% interest for the standard 15, 20, or 30 years, or the current term?

[polpilot]

55. A $200K 5.875% for 30 yrs. $1,180/mo....$200K 3% 50 yr. $644/mo.

This would be for existing mortgages only, no cash out, no points, no fees, no appraisal, no credit check. One could continue to make payments for a 15 yr. pay out if they wish by paying more each month. The now government owned Freddie Fannie Group would essentially offer this to reduce monthly payments and stem the tide of foreclosures.

[LWolf]

80. According to your math,

$644 * 600 (gulp) would be a total payment of $386,400.

$1180 * 360 would be a total payment of $424,000.

That certainly invites thought. Do middle-aged people and senior citizens get 50 year mortgages with your idea?

[polpilot]

81. I've also been a VA appraiser. An 85 year old can/could get this 50 yr. mortgage.

[LWolf]

106. That's good,

as long as the senior citizen expects that they will have the income, after retirement, to make a mortgage payment.

In other times, the goal was to pay off the house before you retired. In the modern world, reverse mortgages seem to be the thing.

Still, it's at least something to consider. How did you arrive at 3%? If government is going to be in the mortgage business, they don't have to make a profit, but they do have to be solvent. Would that 3% cover all the upfront and hidden costs involved in such a plan?

Yesterday, Dennis Kucinich spoke about adding a provision to the bailout bill that would force mortgage lenders to rework mortgages.

http://kucinich.house.gov/News/DocumentSingle.aspx?DocumentID=104230

According to a poster on Democrats.com, there is another bill in the works:

<snip>

....here are currently two bills being worked on in the House as alternatives to the Paulson-Obama bill. The first is the DeFazio bill, which is intended to fix the banking system by providing, not a bailout, but insolvency relief. The second is being put together by Rep. David Scott and Rep. Doggett, with the aid of economist James K. Galbraith, and is intended to help ordinary people by creating a modern version of the Home Owner's Loan Corporation (HOLC) to take over mortgages and keep people in their homes with reasonable serviceable mortgages.

http://blog.democrats.com/send/send/17814

It sounds like there are a few reps in the House, anyway, who are open to something like what you are proposing.

[davidthegnome]

54. It's a good plan, but....

The reason that people are angry, I'm guessing, is because you titled this post in such a way to make it seem as if our "representatives" (and I too, use that term loosely) were working this out.

If I honestly believed it had even a 1% chance of passing, I'd get on board and mail it to everyone I knew. It's not going to happen. While it's a great plan and would accomplish a near miracle - it's never going to happen for the simple reason that too many are ruled by greed. And they tend to have the money and the power to see to it that such plans as this never make it anywhere.

I'm way too pessimistic to even imagine a possibility of it working. That's what the last eight years have done to me. So while I think it's a good plan and I wish you luck, I won't contribute because it is 100% hopeless.

[polpilot]

59. Thanks for the post. I think it's 99% hopeless. I started it because I, too, have no representation

in D.C. and am hoping that there is ONE elected official who would see this and, for once, do something for the little guy who never gets anything in a 'bailout, such as this. It would have instant incredible results and be much, much less expensive than this 'Handout'. Thanks again. I'm trying.

[davidthegnome]

68. And I have to admire

having the nerve to try, especially on your own. Look at this, one person came up with a better plan than the combined ability of how many politicians? The post title is misleading, intentionally or not, but I like the idea. So... keep it up. It probably won't change minds or turn heads, but it might get people thinking of the possibilities, considering. Gotta start somewhere.

[dailykoff]

57. No it doesn't and why are you pretending it does?

This is pointlessly misleading.

[polpilot]

60. This is how it starts. Pushing a good idea any way possible...v.

doing nothing. Sorry if you don't agree with the method. I've e-mailed Obama's lead economist, all Senators involved, CNN, Fox News, O. Winfrey, everyone. The investment banks and Wall Street have their ear...we don't.

[Name removed]

61. Deleted message

Message removed by moderator. Click here to review the message board rules.

[polpilot]

63. .

.

[polpilot]

64. ..

..

[Truth2Tell]

66. A hearty recommend for common sense.

Too bad Congress is officially a common sense-free zone. This proposal is not allowed inside the beltway, sorry.

[ashleigh4dem]

67. If this plan is for real,

does it mean that every household with a mortgage will
automatically be switched to this 50 year loan mortgage plan? 
Or do you have to apply for it if you want it.  I'm curious
because in my situation I don't know if it would be a good
idea.  When I bought my house, I got a 15 year mortgage loan. 
I now have about 9 years left.  I sure don't want that to be
switched to a 50 year loan.  I just want to get it over with
and 50 years sounds like eternity.  I will probably be dead by
then.  

[polpilot]

69. You would have the option to convert. YOUR option.

The effective average reduction in the average monthly mortgage would be near 50%. The average length of time in one's home is around 6 years in the U.S. This would immediately free up money for the average cash strapped American and effectively end foreclosures.

[El Pinko]

70. The people in trouble are in 30 yr. mortgages, not 15-year ones.

What the hell kind of mansion is $3k/mo on a 15 yr mortgage? People buying those kinds of properties do NOT need government help.

Also, there is a reason why banks don't write 50 year mortgages - borrowers tend to DIE before they get paid off.

By the way, it is doubtful that this would "turbo-charge" our worthless, hollowed-out economy, and the absolute WORST thing we could do is

try to look to HOUSING as a basis of a strong economy.

[polpilot]

71. One must take the view of the entire country's needs. In my area $339K gets a 20 yr. old 780 s.f.

2 BR/1 Bath with a 1 car garage. One's view must be beyond one's neighborhood.

[El Pinko]

72. The fact that real estate is overpriced in your area doesn't make me any more eager to prop it up.

I lived in San Francisco until 2006. I am familiar with the speculative bubble and insane prices and rejoice that they will continue to fall like a rock.

If you cannot afford it, DON'T BUY IT. It's called RENTING.

[polpilot]

73. I've been a licensed real estate appraiser for 22 years. It's not overpriced at all. Just attempting

to give you a perspective that a plan must address every area of the country, not just where you live. This is an unemotional solution to keep EVERY American and their families in their home. This is not about me...or you.

[El Pinko]

74. Of course it is- the fact that you are in the RE industry makes you biased and blind.

The long-term trend in every metro area of the US was from 1900 to 1997 was 3X median household income (4X in extra-desirable areas).

The only thing making prices high since then was easy credit and speculation (greed).

The easy credit is not coming back, regardless what the government does, and the incomes will no longer support the prices.

Wait and see.

[polpilot]

75. Your anger is not a solution. You need to point out problems with my plan, not rant.

'Biased & blind'....he he he he

[El Pinko]

76. I've hardly "ranted", and I have pointed out your plan's weaknesses.

Granted, it is better than some of the giveaway gimmicks I have heard, but the fact that most people will be dead before their loan is up is a problem, in addition to the fact that it will take many decades for the government to recoup its costs, as well as the fact that selling houses to each other is not true economic growth, as well as the fact that it is unfair because it would give people who BOUGHT a house they couldn't afford a nice deal and not offer the same deal to all the other people who CAN'T buy but DIDN't get in over their heads.

I would support your plan ONLY if it was available to anyone who could feasibly afford the payments (even present renters).

If it was offered only to the underwater flippers and fools, then I would support a class action suit on the grounds that it is a violation of equal protection under the constitution - a reward to one group of people who made foolish choices and a slap in the face to those who did not.

[polpilot]

77. #1- The average homeowner stays in a home for 6 years (the 'death' analogy is not understandable)

#2 Allowing renters to purchase the property that they are leasing is confusing to me #3 the 'government' has the fed window open for 2% to investment bankers, why not open, in a true crisis, to U.S. taxpayers for 3% #4 the current alternative to this plan is to give a $1 trillion check to Wall Street firms and hope they 'work it out'.

Congressman Kucinich major opposition is that the current proposed plan will not keep families in their homes. Any legislation must effectively address this directly. Directly. I welcome other solutions that directly accomplish this.

[El Pinko]

78. I'm not saying they would have to let renters buy the places they are renting.

I'm saying they would have write mortgages to renters who wanted to go and buy a house or a (puke) condo the same as they would for the flippers and fools, otherwise it would be patently unfair.

As for "keeping families in their homes", I couldn't care less about keeping people in houses they cannot afford. 40% of Americans already rent and most of them are doing fine. The foolish big spenders will be just fine in rental housing - although they may not have as much room for their HELOC-financed plasma screens...

[polpilot]

82. TV sellers support this if that is your question.

[midnight armadillo]

102. About option ARMs

The area under the Option ARM curve is greater than that under the subprime curve...yikes.

[polpilot]

109. $500 billion to $750 billion, 55% in California. The Wave Cometh!!

[ContinentalOp]

83. Why hasn't the trollish headline in the O.P. been changed yet? This is irresponsible -nt-

[polpilot]

89. What was the ???

[dailykoff]

104. I alerted and they just deleted my post.

Go figure. :shrug:

[Booster]

85. I don't think I'll ever open another one of your threads again.

I have family members who are in financial trouble and when I read your post I got excited and sent it to all of them, then, stupidly, went back to read the entire thread. You posted this like it was the truth and I trusted it - dumb me. That was mean.

[polpilot]

90. I am trying to effect change and I need your help.

[DS1]

86. That would piss me off soo fucking much

Why should I, a renter, who's saving up for a decent down payment on a mortgage and do the responsible thing, have to bail out these fucks who bought a house they couldn't afford?

[polpilot]

91. To stabilize the housing market and make your future dreams possible.

[polpilot]

96. ...

...

[DS1]

98. Screw that!

I didn't buy a house when I got a new job because I knew my job wasn't stable enough to provide the payments and it might get my property foreclosed. Other people ignored their real financial situation, and now the people who loaned the borrowers, who did take that offer, need to be bailed out. Fuck that.

Why should I pay for their fuck ups? I did everything right, they didn't. Why should I pay for people who bought well beyond their means, why should I have to pay for the bets the people that loaned them the money to do so placed, while I was sitting back and building up a real down-payment on a realistic mortgage?

[polpilot]

101. READ the plan. You're paying for nothing. After Fannie/Freddie were nationalized you're

only protecting your interest by assuring these nationalized debts will be paid & not foreclosed.

[girl gone mad]

87. Now we are Japan.

50 year mortgages?

ugh.

[polpilot]

92. The avg. time in a residence owner is 6 yrs. This advances the homeowner possibility exponentially!!

[eowyn_of_rohan]

88. What are the loopholes?

[polpilot]

94. None. Available to EVERY homeowner. Reduces monthly mrtg. by 50%. By the people for the people.

[eowyn_of_rohan]

103. oh - i see- this is fantasy land

I like your plan though! :toast:

[polpilot]

107. Thanks. It's cheaper than the alternatives and it helps ALL homeowners.

[Kurt_and_Hunter]

93. There's probably a reason there's no link in the OP

[polpilot]

95. Join the revolution now!! Ask YOUR Senator/Rep. about this.

[dailykoff]

105. Yes, it's a lie. Welcome to the astroturf.

[polpilot]

111. .

.

[Waiting For Everyman]

97. polpilot, I agree 100s%. This is the logical thing to do and would HELP a LOT and FAST.

I'm an ex-real estate agent back a long time ago, so I totally get it. This would do more than anything else we could do, to jump-start the economy. It's what obviously needs to be done, and we have the institutions and programs already in place which could be used to do it quickly. The only thing stopping us is the banking lobby... who so far, have done everything in their power to continue the foreclosures and rip-off rates which can do nothing but wreck the economy. Their overcharging (based on credit score "risk") started this to begin with. All the more reprehensive when their cost of money is almost nothing.

The fallacy most people are believing, is that the mortgages in trouble are cheap. They are NOT. It's just money for nothing, going to the bankers, who then waste it. Most people are qualified to own the house they are in, IF the rates were half-way sane.

It's no different than what's happening with sky high credit card rate increases, only bigger. They force people into the subprime category with their policies, b/c that rationale allows them to drastically overcharge. Period. That's all the logic there is to it.

Your proposal is the way to turn this around, and let people recover from this a bit, which isn't easy to do anyway. Then if new loans are made sanely and similarly affordable, we'd be getting somewhere with solving this in a stable way.

[polpilot]

99. Thanks so much for your post. This plan resolves nearly 100% of the U.S. housing problem.

It's simple and can be implemented in 30 days. ALL HOMES will dramatically increase in value in less than 60 days. It is perfect but only the average U.S. citizen benefits and herein lies the problem. Thanks for your clear understanding of the impact of this.

[Land Shark]

108. A great carrot to SACK the american govt with all the bad loans nt

[polpilot]

110. No. We ALREADY have these loans as we ARE Fannie/Freddie now. We're just

making these loans GOOD by reducing the monthly payments and STOPPING the foreclosures on the loans that we ALREADY own.

[polpilot]

113. ..

.

[polpilot]

114. McCain was close to the solution last night (The 350 Plan/3% 50 yr. fixed for ALL U.S. citizens)

CNBC 2 days ago: 'let everyone re-fi into 5 1/4% 30 yr. fixed rate mortgages'....yesterday 'why not re-fi all into a 5% 30 yr. fixed mortgage. McCain was close to winning the election last night. With a simple and sure mortgage reduction plan it would have been OVER.

You MUST have a economic driver that effects EVERY street in the U.S. The 50% mortgage payment reduction is the only immediate and sure fix that I am aware of.

[Waiting For Everyman]

115. It's the only answer that will work. Reject it - there's none at all.

The longer attitudes are against this, the deeper we dive.

[polpilot]

117. The cost, implemented 45 days, of the 3% 50 yr. fixed plan, would have been FREE...based on the

losses of the last 45 days. 50% or more reduction in EVERY U.S. mortgage, home values INCREASE instantly on every street, every road in America, 2 months 'til first new 3% 50 year payment book = best holiday sales season on record. Chicken in Every Pot? No..steak and salmon on every grill!!!!!!!!!!

1st time EVER that EVERY U.S. citizen instantly benefits. With or w/o a mortgage your home value increases. The 350 Plan/3% fixed 50 Years. Pass it on. Thanks.

The Economic Revolution of 2008 Committee

[MilesColtrane]

116. ...oh....and a pony, too.

Why would we want a non-pony bailout plan when we can have a pony bail out plan?

[polpilot]

118. I'm accustomed to only economic jackasses..a pony would be nice!!!