"The Government wants to spend your money without being accountable to you, the taxpayer.  It's up to you to hold your reps accountable by letting them know exactly how you want them to fix this financial crisis."

Dave Ramsey, author of the best seller, "The Total Money Makeover" has helped thousands of Americans get their financial lives back in order. His common sense approach to personal finances holds many of the answers to the solution for this current financial crisis.

In fact, he's got some advice he wants YOU the American People, to share with your Congressmen and women and your Senators. It's our money they're spending, so we need to be the ones to tell them exactly how they should be handling this crisis. They need to be constantly reminded that they are accountable to YOU, the American Taxpayer, for how they manage the money they are borrowing from you. Here's Dave Ramsey's suggested plan:

CLICK HERE FOR THE PDF VERSION
(copy the text below to send it
to your Congressmen and Senators)

"The Common Sense Fix"

     Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support
any congressperson who votes to implement such a policy. Instead, I submit the following three-step Common Sense Plan.. 

I. INSURANCE
  a. Insure the subprime bonds/mortgages with an underlying FHA-type
      insurance.
      Government-insured and backed loans would have an instant
      market all over the world, creating immediate and needed
      liquidity.
  b. In order for a company to accept the government-backed
      insurance, they must do two things:
      1. Rewrite any mortgage that is more than three months
          delinquent to a 6% fixed-rate mortgage.
          a. Roll all back payments with no late fees or legal costs
              into the balance. This brings homeowners current and allows
              them a chance to keep their homes.
          b. Cancel all prepayment penalties to encourage refinancing
              or the sale of the property to pay off the bad loan. In the
              event of foreclosure or short sale, the borrower will not be
              held liable for any deficit balance. FHA does this now, and
              that encourages mortgage companies to go the extra mile
              while working with the borrower—again limiting foreclosures
              and ruined lives.
      2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs
          and executive team members as long as the company holds
          these government-insured bonds/mortgages. This keeps
          underperforming executives from being paid when they don't
          do their jobs.
  c. This backstop will cost less than $50 billion--a small fraction of the
      current proposal.

II. MARK TO MARKET
  a. Remove mark to market accounting rules for two years on only
      subprime Tier III bonds/mortgages. This keeps companies from
      being forced to artificially mark down bonds/mortgages below the
      value of the underlying mortgages and real estate.
  b. This move creates patience in the market and has an immediate
      stabilizing effect on failing and ailing banks--and it costs the
      taxpayer nothing.

III. CAPITAL GAINS TAX
  a. Remove the capital gains tax completely. Investors will flood the
      real estate and stock market in search of tax-free profits, creating
      tremendous--and immediate--liquidity in the markets. Again, this
      costs the taxpayer nothing.
  b. This move will be seen as a lightning rod politically because many
      will say it is helping the rich. The truth is the rich will benefit, but
      it will be their money that stimulates the economy. This will enable
      all Americans to have more stable jobs and retirement investments
      that go up instead of down. This is not a time for envy, and it's not
      a time for politics. It's time for all of us, as Americans, to stand up,
      speak out, and fix this mess.

IV. MANAGE THE ROOT CAUSE (my addition to the plan)
  a. When, in spite of above fail-safes a property does go into
      foreclosure, send government bidding agents to the courthouse
      steps to purchase homes for the amount that the bank needs in
      order to recoup their costs plus 2 percent. If a private investor
      beats that government bid, so much the better.
  b. Hold on to the homes and hire contractors (who don't use illegal
      aliens for workers), to fix up the home.
  c. Rent the homes and put the rental income back into the Bailout
      Fund, then when the economy recovers and the home prices have
      gone back up to pre-recession/depression levels...
  d. Sell the homes, pay back the fund, return the money back to the
      Treasury where it should never have left in the first place, then
      learn from this huge mistake and vow to never make one like it
      again.

Write an email or snail mail to your Congressmen/women & Senators TODAY and let them know what you want them to do. Click on the link below to find out who your representatives are and how to contact them: