You still aren't listening, T-Bird (pun intended here)...

I never supported bailing out Wall Street directly... I have supported bailing them out indirectly like FDR did in 1933 with his Home Mortgage Corp... The way it works is really simple, T... You take the bad mortgagaes that Wall Street says are the basis of their woes and you buy them out from the bottom up... I know this is like trying to get the square pag into a round hole fir ya', T, so let me give you an example:

Acme Mortgage (Wall street) loaned Charlie the Carpenter (Main St.) $250,000 to buy a house... Got it so far???... The mortage was set up as an ARM (Adjustable Rate Mortgage) which has adjusted and doubled Charlie's payments... Charlie can't pay that amount and so Acme forcloses and is stuck with an empty house... The nieghbors are also stuck with an empty house with weeds growing up around it...

So here's how it works... We take the bulk of the $700B and put it into a Home Mortgage Corp. and buy back Charlie's mortgage from Acme and rework it to be a 30 year mortgage at a fixed 5 to 6% interest...

Acme get back their $250,000 that they can use to loan out again... Charlie stays in his house and the interest on the mortgagae goes to:

1. shore up Social Security

2. administer the program

3. cover losses

This is what ol' Bobert has been calling "trickle up" economics for years...

This is smart economics... Or pragmatic, if you will... Everone gets something...

B~