I had an epiphany last night when, I announced to my mate that the answer to the current crisis is right within our hands.  My plan is unapologetically simple in nature, but simple is as simple does.

You and I are very aware that businesses large and small fail, claim bankruptcy, and have to send their workers home with little or no benefits.  As painful and awful as that would be for all involved, I think the failed organizations need to fail, shut their doors, and send their workers home. 

Then, give the other banks, credit unions, and lending organizations, that have treaded water in these turbulent times, a chance to step forward.   Give them the chance to acquire these unguaranteed loans at a fraction of the cost, or even at no cost at all, (shoot, I’d be willing to give some of my tax payer dollars as a bonus, not a subsidy, to those brave companies who take on a little more risk.) 

These currently successful banks have the best chance to turn this financial crisis around.  If they bite off more than they can chew, and cannot keep themselves from utter failure, then you are DONE, outta here, bring in the next one. 

This way you reward success and not failure.

In addition to letting the surviving banks acquire loans, I propose we let individuals, like you and I, the opportunity to buy the homes involved in the crisis at a price freeze of ten cents on the dollar.  Thus a $100,000 home could be bought for $10,000.  My husband and I said we could potentially buy ten of them to do our part to strengthen the economy.  Any previous home owner can stay and rent from us (with a fair rent to cover our payments plus repairs and a small income for our efforts), but if they refuse to pay, they will be removed. 

When and if we buy these homes, the understanding is, if you have already foreclosed on your home, and gone back on your original word to pay the note, so sorry Charlie, but you no longer qualify to own the home.  You are now a renter, which is what you should have done in the first place.  If you cannot pay your rent, then we will find someone who can.  Eviction laws should be loosened so the new homeowners can take action quickly.  If the government must insist on some kind of bailout money, it should go to the financially responsible new owners to help them fix up the homes, to increase the property values, with some funds going toward programs to educate the ones losing their ownership status.

I hear the naysayers out there saying I should first give the original homeowners the chance to buy back the home at ten cents on the dollar, but this would be a foolish choice.  These people are a considerable credit risk.  Go rent a home or apartment, make your payments on time for seven years, learn fiscal responsibility, and come back with your credit application at that time.  Then we can talk. 

Because nobody wants to be homeless, the new home buyers and investors should be encouraged to charge fair rent, as long as the renters are responsible.  The government could even offer the failed home owners a small, one time only, stipend to help them get into a low rent apartment.  

If any kind of socialist action needs to be taken, it should be that it is unlawful to start whining about making these people homeless.  Additionally, no one will be allowed to use that idea to gain some type of emotional sympathy to overturn the free market.  That is exactly what got us here in the first place. 

It should be a nationally accepted idea that we did not make them homeless, they made themselves homeless.