Treasury Secretary Paulson, President Bush and the Federal Reserve are hell bent in giving away at least $1.3 Trillion dollars of American tax payer money away to billion dollar corporations under the guise that it is good for America. American should feel sick to their stomach about this bailout. I do.

Why is it that big banks and corporations can create this mess and still get bailed out and to add insult to injury, expect the people they used as pawns for years to make their billions to pay the bill. This is incredible. Americans should be furious. You see, no matter what anyone tells you, this latest batch of money , $700 BILLION dollars, that we would be giving these corporations, we will never be seen again.

Do you think this money will be paid back? Of course not, this is just a away to confiscate money from the American people again under the guise of an emergency. All we are doing is paying for more golden parachutes and yachts for these banks and corporations.

I understand that this country is truly run by the elite bankers and corporations for the benefit of the elite bankers and corporations. So, aside from creating a revolution to take back our country, in the meantime I felt the following plan would satisfy their goal of bailing out their buddies but also benefits the American people.

Facts:

1.1 million homes are in foreclosure

800,000 are 3 months past due on their mortgage

My plan:

Take the current number Paulson and Bush are pushing around, $700 billion, and bail out the banks and the American people.

Let see $700 billion / 1.9 million American households in trouble = $368,421 per household.

So here it goes. Government calls all the banks that these 1.9 million mortgages are held and negotiates to pay them 60 cents on the dollar to buy the mortgages. The $368,421 budget for each home is more than enough. In reality at 60 cents on the dollar, which these banks would gladly accept , my plan would probably cost half as much as Paulson’s plan. Now the government would own these mortgages at a discount and would let the people stay in the homes. When the home is sold, the government (we the taxpayer) would get 100% of the amount paid for the mortgage plus a percentage or all of the profit from the sale.

Done.

My Plan:

1- Their bank buddies get bailed out nicely at 60 cents on the dollar

2- The American people in trouble get bailed out.

3- The financial system is stabilized.

4- housing prices are stabilized

5- The American taxpayer gets paid back 100% for helping their fellow Americans in need.

6- The American taxpayer will actually make money on the investment because every house sold will be sold at a profit because the government came in at 60 cents on the dollar or less.

7- America becomes about the American people again.

Compare my plan to the Bush and Paulson confiscation:

1- The banks, corporations, billionaire CEOs and investors get bailed out for defrauding people

2- The American people in trouble get NOTHING

3-The American Taxpayer gets the bill that will NEVER be paid back

4- The financial system is not stabilized because the root of the problem still exists.

5- The housing market continues to plummet.

6- This plan sparks another crisis– a Credit Card Default Crisis– Are we going to bail out the credit card companies also?

7- America continues to be ruled by the banks and corporations at the expense of the American people.

8- The billionaire and millionaire CEOs and their buddies get their bonuses just in time for Christmas

You decide. What plan would you prefer? My plan, that helps your fellow Americans get back on their feet and get your money back plus interest ? or the Bush/Paulson plan that basically flushes your money down the toilet and ends up as part of some billionaire CEO golden parachute?

Let me know..

Update: For those who do not believe these CEOs will get their bonuses and golden parachutes, check out what the geniuses at bankrupt Lehman Brothers are getting…

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4795072.ece