Ben Bernanke once suggested that the banks take a loan principal reduction on failing mortgages. Even I said that was crazy, but now I realize that they are taking losses anyway and Bernanke was a visionary.
All the networks should finally fess up to the fact that help is needed. I don't believe in the Bailout Plan. I think it is filled with a lot of political pork, but a lot of consumer education would be helpful. I have offered to, many times by email and snail mail. I hope someone finally does it now. Helping people help themselves seems like a great idea.
5,000 to 7,000 foreclosures a day are not to be ignored. Awaken the Ostrich and let's get the word out that help is available, before irreparable harm is done.
Why is everybody afraid to state the obvious? IndyMac is the 5th bank failure this year and the 2nd largest failure in US History; with more failures expected. I think the Cat is out of the bag!
Mr. Cavuto, please take the lead, offer real foreclosure help information. Be the first, and I bet the others will follow. The other networks seem to follow FOX Business News anyway. If you do, everybody will benefit and you might make some new friends by helping to save a few foreclosure disasters. You never know, you might even make the news by being a visionary. Let's see what #1 can really accomplish.
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