I keep hearing about the clogging of credit. Maybe if there was a government entity that specifically deals with issuing credit to Business with strict oversight and reasonable interest rates we could free up capital.

I would add this as an amendment to be enacted immediately. If we are going to issue $700 billion to bailout private investment banks, why not put a portion if not all it in a National Credit Bureau to help homeowners, charities and businesses in seek of capital.

I'm just tossing this out into the ether. Tell me what you think.

I needz feedback. Am I in right field?

Like this?

Small Business Administration
http://www.sba.gov/services/financialassistance/index.html
financial assistance programs...

Yes...but on a grander scale.

I think that you are on the right track. I am just starting to formulate alternatives in my own head (damn it's getting crowded in there), since I have come to the conclusion that the Bailout bill is a big gamble that does not address the core issues effectively.

This problem is decades in the making...from Raygun's days.... and met with a whirling dervish of orgasmic excess of this Bush administration. From the depths of this implosion, we can carve out a new beginning.

It will take fresh, new and bold ideas. I see Obama as being well poised to move us forward.

Whirling dervish...that's classic!

I don't think that capital has to be created whatsoever. Wall Street is crying for sort-term capital because THEY CAN'T TRUST EACH OTHER'S ACCOUNTING as to whether the new "partner" is bankrupt or not.

Boo-hoo, tough shit.

You play with the pirates, and then whine because nobody trusts you.

Markets can live with tight capital. They just don't like it. They're on a diet, and they're cranky. Too bad.

PS: Allow individual homeowners to bargain for the CURRENT WORTH of their mortgages based upon their true value. If a house was purchased for $200,000 and has $170,000 outstanding on it, and is now worth $150,000 - allow the homeowner to bargain with the lender to make the current value of the mortgage $130,000 (with a 10% buydown). The market value of the loan is already that, if not less. And the marketplace gets $13,000 CASH injected into it NOW. Voila! Liquidity.

If they want the American Citizens' cash, there is an easy way to do it. Just don't steal it.

Well I am not talking about capital for those rat bastards. I was imagining a federal credit fund that would be disbursed on the local level. Via our own local institutions (credit unions).