L. Randall Wray: A Modest Proposal to Stop Foreclosures

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L. Randall Wray: A Modest Proposal to Stop Foreclosures

L. Randall Wray: A Modest Proposal to Stop Foreclosures

Economic Monitor-

Sheila Bair, former head of the FDIC is just about the only one in Washington who gets the irony of the continuing foreclosure crisis. A couple of weeks ago she published a tongue-in-cheek call for the Fed to provide a $10 million interest-free loan to every American household:

http://www.washingtonpost.com/opinions/fix-income-inequality-with-10-million-loans-for-everyone/2012/04/13/gIQATUQAFT_story.html

Every underwater household could pay off the crappy and fraudulent mortgages that the bankster thieves are using as a pretext for illegally foreclosing on homes. They’d still have plenty of money left over to buy US Treasuries to generate some interest income. And they could pay off credit card debt and the ballooning student loan debt while they’re at it.

Why, households could put their finances into better shape than the banksters have managed to do with the $29 TRILLION that the Fed provided to them! And while the help the Fed provided to the banksters has done absolutely no good whatsoever, loans to households would put the US on the path to recovery.

[ECONOMIC MONITOR]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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