Original post made by Irvin Rushall, another community, on Oct 1, 2008
I have an idea that would allow me to support a "bailout" package. What if the government stepped in and offered to purchase the toxic mortgages from various companies WITH RECOURSE...and then created a new "stock" that would allow the public to participate in that ownership. The Feds would be the driving force...poised to make a profit and would allow people like me to participate at whatever level we would feel comfortable. This would keep the government from putting up all the money and taking all the risk. It would provide needed liquidity and at the same time force the distressed companies to transfer paper in a business-like manner and it would all be done under the capitalistic system I love and trust.
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