| Boy I've been noisy lately, eh? Well yet another post about the "bailout". Here is a copy of the personalized letter I sent with my initial suggestion as to how to approach helping "main street" v. "wall street" as the priority, but ultimately both benefitting -- i.e. not the ol' "trickle down" world: "The people of this country have spoken. The bailout legislation has been defeated. I have searched various sites, but have yet to see the results regarding how you represented me. Back-room arm-twisting is an unacceptable hijacking of democracy. I will not accept any vote change in favor of the bailout. If you are open to suggestions, I request you consider mine, and maybe offer some or all of my thoughts as an alternative option. We want to protect the people on "Main Street", people who really drive the economy. Therefore let's start a "bailout" for the individual home-owners, or property owners who have purchased homes or transportation or have ended up over-extended based on unreasonable incentives. Create a system, an emergency, pared down system, which will expedite personal supplement. When a person goes on unemployment, it is with the knowledge that they will pay back, when solvent, the loan. It is not a blank check given for an unlimited time to the individual. Specific criteria must be met to qualify for relief, and it is strictly a temporary measure to allow individuals to weather the hardship they currently find themselves in. I'd like to propose a similar system where a person must qualify for RELIEF. It will be given with the fore-knowledge that they will not get a "free ride", and any extensions, as each case is unique, and sometimes the initial recovery loan period may not be sufficient, will have to be reviewed. To ensure "Oversight", there is no blanket relief system simply because someone received a loan during an incentive period. For example, many people engage in "flipping" houses. If that is their story, they were aware of an element of gambling involved in their quest for a quick profit. These individuals, who still have their own home(s), would not necessarily be qualified to receive this relief /loan. There are extenuating circumstances in all things, so they can request a review of their initial application. While a person's application is being processed, foreclosures or forfeits will be temporarily suspended. To avoid individuals taking undue advantage there needs to be a reasonable time limit in place while they apply for the "Main Street Relief Package". I'd hope it would go without saying, that the paperwork and approval process that is required for receive aid and relief will be streamlined so that it can be reviewed in a timely manner so that people and lenders would be allowed to return to "business as usual" [well, preferably better than usual, but that is a different set of issues needing to be addressed]. I trust that if panic is gone from the equation, all people will benefit and heal, discouraging impulse shouts of "Sell, sell, sell!". This way I hope our 401k and retirement plans, money-markets, stocks, and all things fiscal and "Wall Street" related will resolve itself, as the people gain purchase again in their lives. Thank you for your patience regarding my thoughts, but, most importantly, I need you, as my representative, to Vote No regarding the Bailout Legislation under any new moniker or incarnation that serves "Wall" Street, v. "Main" Street."
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