This may make some sense......do this and can the "porkimulus package" and we might do some good. If they just purchased up bad mortgage debt it would probably do more good than what's going on now.
http://www.reuters.com/article/topNe...090131?sp=true
Quote:
WASHINGTON (Reuters) - President Barack Obama promised on Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again."
Obama, who has made fighting the country's economic and financial crises the top priority of his young administration, called on the U.S. Senate to approve an economic stimulus bill that the House of Representatives passed this week.
But as economic conditions get worse the president said new strategies were coming to address the country's ills.
"Soon my Treasury secretary, Tim Geithner, will announce a new strategy for reviving our financial system that gets credit flowing to businesses and families," Obama, a Democrat, said in his weekly radio address.
"We'll help lower mortgage costs and extend loans to small businesses so they can create jobs."
Obama did not offer specifics about the new plan or say when it would be unveiled. His chief spokesman, Robert Gibbs, said on Friday that the White House would hold meetings next week about financial industry regulation.
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