President Elect-Obama and his ecomonic team, should take learn alittle something from the expample set by Rudy Giuliani.
When Giuliani took office, he started with a lot of quality of life changes. At the time they seemed meaningless to a lot of people, but gettting rid of panhandlers and increasing a visible police presence helped everyone believe he was making real and lasting change.
Please take a page from Rudy's book and start with making sure every American feels change where they need it most...in their wallets. The ecomonic bail out, right now is a joke. Companies with their hands out is just sick. Fortune 500 companies telling their vendors, and I swear this is a true statemtent, "the money we owe you for this year, we intend to pay, but the money we have not paid from last year...forget about it...we are not going to talk about it". These are the people you are bailing out.
Business 101, if a business is failing because they have no money coming in to pay their bills, then bailing them out does not change the fact that they have no money coming in to their coffers.The bail out money has already been used to bolster wasteful expenditures and mergers.
Here is my great point. Force all the banks and the newly formed banks and any financial institution that takes bailout money, including foreign enities; to create new Debt Management Departments, that will be required to help current and new customers repair their debt. The new customers will be required to open accounts and the deposit money with the institution and the Debt Management department will consolidate the customers debt and place the customer on a spending plan and provide education that will result in a customer with a higher credit score and lower debt.
What is the upside for the bank? They will consolidate debt at a prearranged rate, sugguest consolidation loans and facilliate payback through the customer's accounts. The bank ends up with good debt customers that are extremely valuable and loyal customers that can now apply for car loans, mortgages, education loans etc.
