Any suggestion or idea of how to solve the current financial crisis?
December 31st, 2009 | 
Author: I mean do you have an idea to share what to do with all these sub-prime impacts on US banking system?
If everybody stopped paying their mortgage and rent then the banks would all go bust and not be in a position to repossess, therefore everybody would have a lot more disposable income to start the circulation of money again. Most if not all credit debt would disappear and we could all laugh at the banking institutions who have ripped us all off for years. The only problem with this solution is people dont stick together
Posted in US banking system
If I were making the decision, I’d let the businesses with the bad loans go broke and the people who took out the loans get evicted. After a period of turmoil, things would become stable again. Bail-outs are temporary fixes.
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tell all the OVERPAID celebrities and athletes to give up those $2,000,000.00 a year contracts and movie deals and let them make only $25k a year. THen tell the politicians they will also be taking a pay cut to $30k. That will make them be LESS CROOKED and people that take those jobs won’t be taking it for the $$ but for the GOOD of the PEOPLE!!!
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me and what I think being a broke a$$ american
PRepossess all the properties involved sell them to recuperate most the money , The people live in what they can afford.. trailers or tents.
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I say simply do away with money and the financial system altogether. The bottom line is this is the source of all the troubles. There are people who are broke who shouldn’t be and people who are rich and shouldn’t be. We have to tear everything down and start over again from scratch and put anyone who is showing signs of greed on the firing line and let the poor take the shots at them. Without money, there are no rich or poor anymore. How rich a person is begins to be determined on one’s character.
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Being from The UK, I would say the following:-
a) North sea oil, is our salvation……. not any more…WHY?
b) Gold reserves …………. sorry sold…………………WHY?
c) Nuclear Power….. currently selling to Fance……WHY?
The base source of energy, controls the world economy, ie FINANCE! Finance is built around these! Without energy, nothing in the world survives!
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If everybody stopped paying their mortgage and rent then the banks would all go bust and not be in a position to repossess, therefore everybody would have a lot more disposable income to start the circulation of money again. Most if not all credit debt would disappear and we could all laugh at the banking institutions who have ripped us all off for years. The only problem with this solution is people dont stick together
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there is couple of suggestions, burn all the bank notes use them to generate electricity, go back to barter i give you 2 chickens and you give me a cabbage and 5 onions,
ok all jokes aside, i don’t know about the usa but here in Australia the head of Macquarie Bank here in Australia earned $21.2 million.
he earned a base salary of $670,604 – and then claimed the residual $20,506,183.80 as various performance payments.
When National Australia Bank (NAB) CEO Frank Cicutto resigned in 2003 after overseeing the loss of hundreds of millions of dollars in foreign currency trading, he was drawing an annual salary of $7.7 million. He left behind a financial crisis that resulted in the bank axing thousands of jobs. Nevertheless, Cicutto received a $14 million termination payout
the head of telecommunications gets about $2,000 an hour
dont you want swear at someone?
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Get the central banks to print more money, and set a target rate of, say, 20% for inflation (central banks should calculate carefully to ensure the actual inflation rate stays close to this, hyperinflation must be avoided). Banks will be unhappy about hoarding money when it is depreciating at this rate – they could make money at a rate above the inflation rate by lending, albeit with some risk. The extra money boosts the money supply which the banks have effectively cut by reducing their inter-bank lending, and could be used to fund public interest projects, generating a Keynesian-style boost to the economy.
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