Is congress committing moral bankruptcy? While attempting to stave off financial bankruptcy, congress, now finds itself on the verge of committing moral bankruptcy. The idea that the Federal Government could make any profit is morally default. Who would the Federal Government make a profit off of. How could it be the same people who gave them the money. Beside the immorality, the sheer lunacy of this situation is Un-conscionable, given, there is a moral solution. Now, it sounds that the Federal Government want to loan taxpayers money to Wall St. so Wall St. can then use the money, to make money, off of, ultimately (the same folks who gave them the money) the taxpayers, and then take a cut, for doing so (making a profit). Since, the Federal Housing Authority must no longer exist, morally, what needs to happen, is the recreation of a new FHA, which will convert the OLD Federal Housing Authority, into, the NEW Foreclosed Housing Authority. Next, congress will need to legislate, the authority, the funds, and a mandate which states, "All financial entities, which operate, in American home markets, shall sell all home properties, with a greater loan to value rate, to the new FHA, at the days current fair market value". This will guarantee that the American taxpayers will be receiving true current value of out-laid money, while preventing a "waiting game" to be played by the financial entities, which operate, in American home markets, where they could cherry pick which bad loans, they are ready to give up on now, and those, they have not, quite, given up on, yet. (No ambiguities) A complete purge of the Wall St. financial markets toxic property debt. A new beginning for Wall St.. and Americans. This, will allow Wall St., to sell upside down properties (at a lost for them, allowing Wall St. to morally pay for its own mistakes) while, giving them (Wall St.), new revenues to re-capitalize with. Thus, this will also create a pool of housing, which, can then be fairly and morally sold with 30 yr. Notes, to low income families, at the true fair market value, of the day (without profit). Also, mandate to the new FHA, to give any family, currently in foreclosure, first right of refusal, to a payoff (at the days true fair market value of the Note) to whomever currently possesses the property TITLE, then issue, a new 30 yr. Note on that same particular property. Now, here is a moral reckoning of reality. - Rich people, will see their home values drop. - Poor people, currently have no property value. - Poor people, will now be morally able to afford housing. - Banks will lose money, but they will have money. - There will be a new, re-distribution of wealth (towards the middle-class) in America. In addition, in the grandest scheme of all, by righting this boat we are in, this can be an opportunity, for America, as a whole, to turn a negative, into a positive.Does this make any sense?
