Crisis solved or at least well on its way to recovery.

renman95

What if last year's Stimulus went to pay off consumer credit cards, auto loans, student loans, home loans, etc.....and the only requirement to get the "Real American Bailout" is to attend a money course like Dave Ramsey's or equivalent? Also, the Congress and the President would be required to attend and complete the course before going back to their political position. A re-education camp if you will, something I think they would understand.

I have no idea if the $787B would bailout the consumer en masse, but the requirement would definitely change our country's attitude on money.

R95

dontippet

The only lasting result would be that Dave Ramsey would be the richest man in America. Most people would not put into practice what they learned, and even with a clean slate, would be back into debt within a decade.

By the way, $787B only works out to $10,500 per family of four, so it wouldn't pay off home loans, and probably would miss most car loans.

jmski52

Obviously, it makes more sense to give money to rich bankers who are intent on creating bets on derivatives for which they have no intention on making good if they lose the bets.

Those bankers are the same guys who get fired from places like BoA for driving the place into ruin, only to get hired back by other places like CIT Financial, after CIT gets driven into bankruptcy by having to compete with bailed out enterprises like Fannie & Freddie.

Let's not worry about who makes campaign contributions to whom, quid for quo, tit for tat, ying and yang, blah, blah, blah. The whole system is corrupt, and it's not changing, in spite of all the rhetoric about "hope" and "change".

There, I feel a little better. Thank you for the opportunity to rant.

TWQG

<< <i>What if last year's Stimulus went to pay off consumer credit cards, auto loans, student loans, home loans, etc..... >>



Your proposal would certainly have Atlas shrugging.

guitarwes

Dave Ramsey is the man. His plan works if you intentionally work it.

Handing free money out to pay off stupid decisions is a bad thing.

Even with $787B, there's still not enough to chip the iceberg of debt that is on top of most americans.

I would vote a million times FOR a "Dave Ramsey type course" to be implemented in grade school and college. Think about if just half of them "got it" how much things would change for the generations to come.

derryb

No one, especially banks, should be saved from bad choices at the expense of smarter taxpayers.