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In response to
"I was just thinking something along those lines with the mention of tax cuts and supply-side economics on the backboards... -- nm"
by
znufrii
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Personally, if I was Bernanke, I'd pay off 75% of everyone's mortgage to the banks and be done with it.
Posted by
Loyola
Sep 14 '10, 10:21
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The toxic assets the banks hold; non performing loans, suddenly become performing as everyone can pay off the remaining 25% over the 20/30 years, whatever they signed up for, consumer demand in the economy is flipped to fully on overnight with less of the wage packet going on payments. Why bail out the banks by purchasing their toxic mortgages when the people are still in hock for the same bubble price amount? Give the money to the people and forget about trickle down monetary policy. Trickle up bitches. Sucks if you didn't buy a house in the boom, but what can you do; it's the easiest way out.
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