Housing Plan

Well, I have a housing plan, imagine that!. TARP I was used to give banks money because of the "toxic assets" they have on the books and to stimulate lending. It was lending that got us into trouble in the first place, too much lending, and bad lending. I didn't like the TARP I story as it developed cause I came to see that the banks that got TARP I money kept mortgage securities on their books. At the core, these mortgage securities are loans for homes. Hence, they had TARP I money, plus they still had the "notes" on those homes. What a deal! Those toxic assets are mortgages securities, which means that they are appreciable assets. Some day, when home values recover, those toxic assets will be more valuable. It seems like the banking system got the best of all worlds. An infusion of capital from the government to cover losses, but they get to keep the securities and with them, the homes. I propose that local housing authorities purchase forclosed properties and recycle them. This pays off banks, and all those "investors" up the food chain. The toxic assets are off their books. The housing authorities sell, or rent, those properties to families who need them. The purchases are financed with TARP II monies. As the housing authorities begin earn revenue from their real estate assets, they pay back TARP II loans. Its too easy. I call this trickle up economics. What say you?

Born again

No, not born again in the Christian sense, although I was born again in that sense as well, 23 years ago, but born again in the sense that I am joining the blogoshpere for the first time ever, where I will learn to walk and talk all over again, like a newborn child. This is my inaugural blog and I am compelled to do this because of the pain, and anger, I feel about what is happening in the world around me. I voted for Obama, was an Obama delegate at my county convention, but so far I am not impressed. I will, however, give him some latitude because these are extraordinary times. In January 09, I was on a plane to Denver, seated next to an Italian gentleman who lived in Germany, and we spoke about the economy. He said that since the November elections, Europeans were awaiting the "Obama Effect" I too was waiting, and I am still waiting. I am not impressed because I don't see that any of his efforts thus far have saved families from foreclosure, nor have they saved jobs, nor have they done much for 201K retirement portfolio. It is safe to say that the "markets" are not too impressed either as they have continued to slide since his victory. But this is not about Obama. I want to comment on so many things that I literally don't know where to start. So, lets start by testing the waters. What is your interest? Immigration? The War? The economic crises? Health care? The tax code? Elections process? Personal behavior? Pick any topic, or make one up. I have the answers, try me. For starters, we need a national revolution, a peaceful revolution, at the voting booth. Said revolution, much like the last one, will lead to a constitutional convention. You realize that our constitution was written before we had free blacks, air travel, and email. It must be tweaked, and part of the tweaking should include term limits. We need a fair and simple tax code, one that doesn't require a college degree to prepare a tax return. Everytime politicians decide to fix a problem by using tax credits, tax exemptions, tax deductions, and so forth, I cringe. We need a tax code that doesn't let Daschle, and his colleagues, use a lame excuse for not paying their fair share of taxes. I hate the two party system, and I hate many things about each party. I don't have a political party. I was an Obama delegate, but before that I voted in my local democratic primaries so I could AGAINST all incumbents. I hate the Texas closed primary system. Why must I declare myself one party or another just to have a say? By March 4, 2008, the Texas primaries, both of preferred candidates (Richardson and Huckabee) were eliminated, so I settled for Obama. I hate Buchananistic immigration rhetoric and political innuendo that ties immigration policy to terrorism as so many political ads during the 2006 mid term elections. Oh, so many things to say, but alas, my time is up for this day. To be continued... In the meantime speak up.