25 - Feds in bailout mode must focus on homes

The following letter was published on April 5, 2008 by
The Cape Cod Times
Cape Cod, Massachusetts

If the government can be instrumental in bailing out Bear Stearns along with giving $12 billion a month to a lost cause once claimed as a noble cause by a president who many think should be in prison, the government should also be able to help those with little means who want to be part of the dream of home ownership.

At this moment in America some borrowers and lenders are looking for some real creativity concerning the dilemma of the subprime loans; they know the rebate checks that will come eventually will be like a one-minute drop of rain after a long drought.

Let's imagine an empathic government that can go beyond judging and actually create a process that would not only realistically jump-start the economy, but put it back in a safe area on track. If the lenders were paid a quarter of all troubled home loans by the federal government and the borrowers were forgiven half of their loans by the lenders, this simplistic type of one-time settlement would bring relief in a compassionate way.