Fired? Your debt is cancelled

What about canceling all debts (credit card, mortgage etc) of any person who loses their job in this economy? Make it law and make it applicable for all people who lost their jobs since September of this year and keep the measure until the recession is officially announced over. Pink slip for debt cancellation. Instead of bailing out companies and banks who may not survive anyway as millions of people lose their jobs, use the money to bring real relief to the people who need it the most.

http://www.thinkaloo.com

Make money creating the crisis. Make money solving it!

Here's the skinny. The guy gives tons of loans to people who can't afford them and sets the stage for the sub-prime crisis. The crisis erupts. He buys the loans back from the government ridiculously cheaper than the government bought them from the banks using taxpayers money. As a result he can afford to lower the interest homeowners pay on those loans and still make a 20% profit from them. Desperate to keep their houses, homeowners will gladly say thank you to him for helping them keep their houses.

And I want to ask a very simple question. Why is the government selling the loans to him? Why can't the government hire Him or other people like him to do the job of lowering the interest rate on those loans itself? Why let Him do the job via PennyMac and let Him keep the 20% profit? Why not have the government do the job and return the 20% profit to taxpayers whose money it used to buy the loans in the first place?

Is our government stupid, incapable or what? Or is the former No2 of Countrywide Financial that brilliant?

I have to say, just by looking at the name of his company PennyMac, he is a brilliant shyster. Penny for thriftiness and Mac for creative! Son-of-a...spiv :((

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http://www.thinkaloo.com