- The Washington Times - Sunday, November 16, 2008

ANALYSIS/OPINION:

1) Legislate that every mortgage holder renegotiate with each and every property (co-)owner. It is better than having to foreclose on every home or business, and they would have some money coming in.

2) Legislate forbidding any interest-only loans as well as annual-percentage-rate (APR) loans - just one straight percentage rate for the next 30 years.

3) Legislate a cap on all retirement CEO bonuses; legislate no bonuses for any CEO who has run his firm and stockholders into bankruptcy, including the whole board that elected and agreed with the CEO.

4) Have the attorney general investigate all former CEOs and their boards of directors for fraud or any other illegality they may have incurred.

Then put them in jail and throw away the key. Attach liens against all their ill-gotten assets and return the profits to the stockholders of each company the board has ruined.

This will require hundreds of lawyers; take them from the unemployed pool that formerly worked for these collapsed companies. When their work is completed, put those very same lawyers in jail also and throw away the key.

5) Then educate American citizens; tell them to grow up and stop living in a dream world. Tell them to destroy every credit card they own. Tell them to quit living high on the hog and try living within their means. Stop trying to live up to the Joneses’ standard of living.

6) Then go after Congress. In the 1980s, Congress changed the banking laws that got this country into this current mess. So put each and every member of Congress who voted to let commercial banks go into investments in jail - and throw away the key.

Of course, by now, you will have to build a newprison.

DOROTHY A. HUGHES

Warrenton, Va.


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