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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Giordano Bruno who wrote (342518)9/1/2007 11:57:54 AM
From: stan_hughes  Read Replies (1) of 436258
 
Nice bonehead solution Buddy there has on a rental reversion program -- reduce the monthly carry for the idiot homeowner down to current market rental values and de facto sell the house back to the bank at the original fully inflated price, leaving the lender to eat the difference in the principal.

Oh yeah, the banks will really want to go for that plan -- assuming you can now find who the real lender is after the paper's been resold X number of times, not to mention it would mean an unprecedented abridgement of contract law -- not that the Bush Administration holds anything silly like the law in any high regard.

I have a much better idea -- let's round up all the deadbeats that can't or won't make their house payments and put 'em in the 21st-Century Civilian Conservation Corps. Then, instead of a massive $ bailout that nobody but WS wants, levy a small special tax on the banks to fund subsistence and food payments to the Corps members while they're 'in camp' and then send them off to fix a few thousand bridges and rebuild New Orleans while they're at it -- after a few years everything will be repaired, inflation will have caught up to the price of their houses, and they can all go home

-- signed, FDR's ghost
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