A Six-Point Plan To Rescue The American Citizen

Astute journalist and researcher Phillip Mattera, offered a six-point plan to benefit Joe Six-Pack, inspired by the bold move that the Bush administration presents as necessary to rescue the entire financial sector of the U.S.
Here are his guidelines:

"If banks are going to have their balance sheets cleansed, why can’t the same be done for the household accounts of America’s working families? Here’s the outline of a program for bailing out the rest of us:

Wipe out unpaid medical debts of the uninsured and the underinsured;
Wipe out credit card debt for all households with less than the median income;
Wipe out subprime mortgages and give immediate title to the homeowners;
Wipe out payday loans and all other predatory lending obligations;
Wipe out unpaid student loan debt for those earning less than the median income; and
Wipe out auto loans and other installment loans for those earning less than the median income.
Sounds unrealistic, ridiculously expensive? Probably so, but it would be no less outlandish than the proposals being made to benefit financial institutions that have brought the country to the brink of economic collapse. If now is a time for bold moves, let’s see some audacity on behalf of the many, not only the few."

There is no need to add anything.


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