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The bail out should be going to mortgage holders. This would also include partial forgiveness of the principal on any home loan that is now upside down to reduce mortgages to current home values. This would solve all our problems. For many people, having paid mortgage would mean no longer needing to work. We would ease unemployment rates by seeing a reduction in the number of job hunters. We would see a reduction in homeless numbers by keeping people in their homes. We would see stabilization of the real estate market as the number of homes being dumped would decrease. I can't see any downside to this except the finger-pointing and screaminig of anyone who might not qualify for such a bail out because they "played by the rules."
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By daveys (about the author)
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Why aren't we forgiving mortgages instead of propping up failed banks?
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DaveyS is a 5th-generation Texan now living in California, a proud liberal (product of the public education system in North Texas!), and a staunch critic of conservative policies that are destroying our nation.
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