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A conversation with Mitchell Baker, President of the Mozilla Foundation about open-source software and the future of the internet.
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Cheryl Davis 10/23/2008 08:40 PM Report
Dear Charlie Rose,
I enjoy your show. Today you were talking with Alen Greenberg and there seemed to be a consensus that there is not yet an answer to our economic problems. I would like to share my husband's idea for the economic bailout moneys which would benifit more than the people being bailed out. It also would benifit the people with good responsibly maintained loans.
Use the bailout moneys to pay the last of their loans. Which would help more people by spreading the money out. Instead of paying off the irresposibly maintained loans. Then let the responsible homeowner choose from the foreclosing houses. Maybe get a little bigger, higher priced home as an incentive to move.
Then the person with the irresposibly maintained loan takes the lesser house. The loan starts from scratch at the new homes assesed value or the amount the old owner paid. This new loan can be at as long a term as the new owner can afford to pay, with a set time they can refinance if their loan is then well kept.
This keeps 1 house from foreclosing and 2 houses paying taxes. It allows the person with the irresposible loan a second chance without forclosing and being homeless. (Which also makes for less homeless pets.) But is also fair to people who have been responsible loan payers for years and have done what they should all along. It also increases their buying power. They can keep their new paid off home and/or invest in a new loan. This all is a benifit to the shaky economy and keeps neighborhoods from becoming ghost towns.
Thank You For Your Time,
Cheryl Davis, housewife