Instead of sending billions to Wall Street as proposed, why not instead do the following:

American’s are terrible savers but who could blame them when the real rate of return is negative - guaranteed loss!  When inflation is built into the system purchasing power is negatively impacted, and there in turn, so is the accumulated wealth of individuals.

The only real remaining savings that Americans have is their Social Security Accounts.

Unfortunately the govt has replaced those funds with IOU’s so the fund is basically living hand to mouth.  What I propose is re-funding SS with these billions going to Wall Street.

The problem for main street is that they are in debt and can’t pay.  This is turn is causing those who loaned the money to American spenders to find themselves with unperforming loans.  Can we discover a win-win situation here.

Pay off the IOU’s and then convert the SS retirement system into a 401k program which Americans can borrow against in order to make ends meet on a monthly basis.  It shouldn’t cost any more than what they are handing over to Wall Street right now whereby the American taxpayer only goes even further in debt.  Restrict the ability to borrow based on emergency needs such as paying off credit card balances and any other debts where there is interest being paid.  On mortgages evaluate what homeowners can pay monthly and whatever amount is needed to forgo foreclosure let them borrow.

I’m not talking about a handout nor is this suggestion placing an additional burden on other Americans who have managed their finances properly.  The money is a loan that must be paid back into their 401k.  If for some reason the borrower does not pay back on the loan, then they are less that amount for future retirement.

Applying this solution improves the balance sheets of failing banks and also allows the average citizen the ability to discharge their debts with high interest payments.

The only ones that would be against such a proposal would be those who have and continue to charge high interest rates - they lose their monthly cash flow which is how they make their excessive profits.

This is but a simple explanation, but one if worked on I feel could serve as a viable alternative to what is being proposed where the financial industry wins and the average American taxpayer is placed in a worse debt position.

Remember this plan does not just hand out free money but is done through a loan/consolidation plan which actually becomes a win-win situation.

You might be saying, this would cost billions to put the money back into SS.  Under the current proposal they are creating the dollars anyway except in their proposal the average American gets nothing and Wall Street gets all of the bad debts moved over to the taxpayer column.  Based on what has been spent thus far, it calcs out to over $15,000 per person in the USA … put that $15,000 per or whatever the amount is that is owed SS in IOU’s back into the retirement system … Let the people BORROW their own money to pay off bills and credit cards.  At $15,000 most Americans will be able to get out of their current financial bind and it costs the taxpayer nothing in the long run because those who borrow will be required to pay the loan back to the SS fund.

The next step then would be to investigate the banking system and Wall Street.  Those who are found responsible for our current situation should be prosecuted.

At the same time, govt needs to stop spending like a drunken salior on leave, lobbyists need to be sent packing, Congress needs to take back their control as authorized in the Constitution and begin representing the people - not special interest groups.

Any thoughts?