There has to be some relief to the mortgage payers for this thing to work for all Americans. Haphazard refinance terms do not look like a good bet, nor after damage bankruptcy adjustment. The assets held must take the writedown to
1. A 6% rate to save the most homes
2. Value assessment correction
3. No insurance clause that got AIG into trouble
4. Automatic refinace to a flat 6% of all taken over mortgages and all newcomers by Fannie and Freddie with charges as additonal mortage payments at the end.
5. With no insurance liability AIG can be sold at profit back to the market.
Some parameters can be set to protect both sellers and us the taxpaing buyers. A min. home assessment must be 75% and not more than 95% of a mortgage amount. Lost assets (stormdamage etc) should be 50/50 with the government with title.
The current bill failed and will have to be redone.
Our carbon footprint is somewhat addressed by Obama and hardly at all beyond frozen co2 (for how long) by McCain. Palin is completely off the wall on the subject with challenging endngered whales and polar bears and the open copper Pebble mine at Britol Bay's salmon run's doorstep. We can drill for natural gas in oil shale without building an expensive pipeline that oil concerns could probably build themselves as BP and others proposed. Obama to me falls short in his environmental support by not increasing the alternative energy amount and a credit for solar panels, geothermal transfer piping in our nations structures, and wind turbines for compressor tank storage and electrical generation. We can build nuclear energy plants that store waste miles below the plant and store excess capacity through hydrogen generation of distilled water. Natural gas should replace gasoline engines as a bridge until full electric, hydrogen, and bio-fuel vehicles. Hemp should be looked at as a replacement for coal in our electric plants. A national electric grid that transfer power efficiently is vital to transferring power from wind and solar across distance, making the south and northern and mountain wind opportunities ripe for exploitation. Geothermal under Yellowstone could thoreticlly supply 20% of our nations electric power. We must go clean to reverse global warming and again lead the world into a new era.
