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As CEO of MORGAN CHASE SAYS…”Get out of residential loan business?”

July 17, 2011
QE3 to create 4 million jobs ; end economic crisis.
JIM LEHRER: …” a lot of people who believe… the key to this from the very beginning was not the financial system… it was the housing problem… until that is fixed, can the rest be fixed?
HENRY PAULSON:… when you look at how long it’s taken for these excesses to build up and for these home prices to appreciate to suddenly say, “Maybe government could push some button and make it all go away and solve the problem.”… at the heart of the problem is the housing correction. And until the biggest part of the price decline in houses is behind us, we will have stresses in the financial markets and in the economy.” (Excerpts from FOX interview.2009.)
The government should help the taxpayers and EVERY HOMEOWNER..Fix the housing market ; jobs will be created; deficits will be reduced.The fix is the banks have to get the loans to real value,but their corporate profit agenda will not let them.Over 3 or 4 million loans need fixing.
CALL IT QE3.
Money lent to the auto industry paid off;DO IT FOR HOUSING NOW.
How much will TARP lose ? ANSWER :TARP has shown a profit for the taxpayers (this is a fact). “Slate,08/28/09.
THE SOLUTION: stabilize prices : increase employment and lower the national debt.
Mr. Ben Bernanke ,Chairman of the FRB has shown us the way.Using QE1 and QE2 ,he has used the US Treasury to print money that properly used did not cause inflation and did not increase the national debt.
As per Senator Sanders….”
What have we learned so far from the disclosure of more than 21,000 transactions? We have learned that the $700 billion Wall Street bailout… turned out to be pocket change compared to the trillions and trillions of dollars in near-zero interest loans and other financial arrangements the Federal Reserve doled out to every major financial institution in this country. Among those are Goldman Sachs, which received nearly $600 billion; Morgan Stanley, which received nearly $2 trillion; Citigroup, which received $1.8 trillion; Bear Stearns, which received nearly $1 trillion, and Merrill Lynch, which received some $1.5 trillion in short term loans from the Fed.”
(read his blog “A Real Jaw Dropper at the Fereral Reserve…”By the way that adds up to MORE than $7 trillion,add in what was given to two foreign banks,over $8 trillion.)
QE3 is the solution

.
The Federal Reserve Bank  will use…QE3…for up to $10 trillion dollars to make new residential loans on resales ,new construction,foreclosures,and short sales..TAKE THE FIX OUT OF THE BANKS HANDS !
This is an immediate solution to the housing crisis! Creates some 4 million jobs in construction and real estate .And as crazy as you might think it would reduce the national debt .
The FRB with QE3 money could underwrite ALL new loans ( a special assumable mortgage ),NOT to guarantee baks to profit; rather,  for taxpayers to profit !Loans with a 36 yr. term with an int. rate @3%(1% for cost,2% to double the money as a taxpayer profit.(Rule 72) To qualify you must have paid taxes for two years and showed earnings that would allow the LOW AFFORDABLE MONTHLY PAYMENT.A $100,000 mortgage; less than $600 per month for PRIN + INT.
Taxpayers bailout for Taxpayers by Taxpayers paying compounded interest to Taxpayers.
These loans would provide a $10 trillion dollar TAXPAYER PROFIT! Bye NATIONAL DEBT.Balance sheet would show no increase in debt as it is 100% asset secure.
Mr. Bernanke , do QE3.State  Banks are taxpayer owned and are for taxpayers to make and retain any profit.
The FRB is the GREATER option for the taxpayers.
Heroes are made by time and opportunity.Is it Bernanke and Obama’s time?
“Just Do It !”

But what do I know,I’m ” justaluckyfool”…http:justaluckyfool.blogspot.com “ANYONE WHO ATTEMPS TO PREDICT A FUTURE EVENT IS A FOOL;IF CORRECT,THEN JUSTALUCKYFOOL” BASILOVECCHIO
 
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