Posted 5 years ago on July 13, 2012, 11:43 p.m. EST by SteveKJR
This content is user submitted and not an official statement
This really makes sense. Why should we have to pay interest on mortgages to banks when the banks get money from the federal government to loan out.
Why not just borrow from the federal government and pay them the interest on the loan at a rate similar to that they would be lending the banks.
That would get rid of the middle man, provide increased revenues for the government and the economy would get back on track because people would have more money in their pocket.
The banks job then would be to provide credit cards and checking accounts for individuals and the controlled interest they would charge and receive from those transactions would be plenty to keep them in business.
They wouldn't need big offices with vaulted ceilings nor high rise buildings for there corporate executives to lavish in.
All they would need would be a big lobby, air conditioned and lighted with a counter should an individual need to stop by for whatever reason.
That would cut their expenses way down and they wouldn't need all that money.
It would dramatically improve the economy because it would not only help individuals out but it would also help out businesses, and as a result the unemployment rate will be way down because of the upturn in the economy.
I mean the federal government already has a system in place for doing it all it needs to do is convert its system from doing business with banks to doing businesses with small businesses and individuals.
What's your thoughts on this - Ya or nay