How About Bailing Out Us Consumers?

If a mortgage bank fails, all customers are awarded their
homes free without payment.

If the car finance company goes belly up, the motorcar
owners are debt free.

If an individual rents a home or office, he becomes the owner.

The FDIC should perform its established programs.

The personal income tax should be abolished.

Check below for more debt cancellation possibilities.

 
Today's financial headlines tell a story of a nation in bailout mode. Beyond
the oil and mortgage crisis that the government is attempting to act on, The
New York Times says analysts are predicting 150 banks might falter in the
coming months. Read the excerpts below.
Bush
to lift executive ban on offshore drilling:

In another push to deal with
soaring gas prices, President Bush on Monday will lift an executive ban on
offshore drilling that his stood since his father was president. But the move,
by itself, will do nothing unless Congress acts as well.
The president plans to officially lift the ban and then explain his actions
in a Rose Garden statement, White House press secretary Dana Perino said.
Fed's
Plans To Bail Out Fannie Mae and Freddie Mac:

Scrambling to bolster eroding
investor confidence, the Federal Reserve and the Treasury Department announced
unprecedented steps to brace slumping mortgage giants Fannie Mae and Freddie
Mac.
The companies' shares, which have plunged as losses from their mortgage
holdings threatened their financial survival, opened higher Monday. Fannie Mae
rose 27 cents to $10.53, while Freddie Mac climbed 34 cents to $8.08.
NY Times Reports Analysts
Say More Banks Will Fail:

As home prices continue to decline and loan defaults mount, federal regulators
are bracing for dozens of American banks to fail over the next year.
But after a large mortgage lender in California
collapsed late Friday, Wall Street analysts began posing two crucial questions:
Just how many banks might falter? And, more urgently, which one could be next?

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