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:: Wednesday, November 19, 2008 ::
Section 8 Voucher from HUD and IRS Tracking Loan is the Solution
Here is the letter I just wrote to President Elect Obama. I would feel guilty, as probably the only one in this country know the solution, if not sharing it to the new President.
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I have been helping you and the country by "bashing down" the gas price since June 17 when I filed an Anti-Trust Law Investigation with DOJ on Big Oils. There after, the gas price dropped, and I continue "bashing down" the gas price, therefore, the oil price, which will eventually save you and the country huge amount on US Trade Deficit since 1/3 came from Oil Imports, paying $54 or $147 per barrel, makes huge difference, i.e. $2B a day, or $700B a year difference, the scale of $700B Bail Out.
In the mean time, I also convinced Shiela Blair of FDIC to lobby increase FDIC insurance limit from $100,000 to $500,000 (only half accept and temporariy till end of 2009, which is WRONG! why? Wealthy people may not put million of 5 year CD's which the long term cash all banks desperatedly need, NOT short term that can not create stability)
The next thing I was going to share with next President is the key solution to solve all financial problem in one stone, that is deal with the ROOT problem. The root problem is sub prime, alt-A, housing mortgage ...etc. By applying Section 8 from HUD, all homeowner who need emergency to pay their mortgage payment will come from Section 8 Voucher, and therefore all mortgage payments are FED guaranteed, and all derivatives and mortgage paper values will be restored immediately. When that happen, all banks or financial institution including Fannimae and Fredimae will have all their lost paper values back instantly.
As I have documented the solution in the blog US government does NOT need to reinvent the wheel, HUD is there, Section 8 is there, and even better, IRS is there.
US government wants to help millions of Americans to "keep their promise", paying the mortgage payment they signed; therefore, all mortgage papers will be valuable again. That is to say, US government will provide some Section 8 vouchers to millions home owners need assistance (the grand), and together with a housing loan that will be collected back by IRS in the future. that is to say, if one desperated homeowner borrow $20,000 from US government for 5 years, going forward, their income will be deducted by IRS or increase the withhold amount each month.
This will be true for Americans looking to buy an American made cars. Banks may not want to loan money to buyers, fearing buyers may not be able to pay car payment, whereas US government will NOT because IRS can always collect future income from the car loan borrower. Even better, since most American worked for years, and they have submit FICA or Social Security for years, the government can consider to let them BORROW back the contribution.
In any case, if my proposal is NOT adopted, I will still continue helping you and US by basing down gas price, and you shall see that Oil price collapsed in the near future, and, of course, US Dollars appreciated, and Trade Deficit shrink and may be eliminated altogether.
As you know, with President's adoption, the solution is like placed into encyclopedia, and will work very fast. Otherwise, I will still let the solution placed in Wiki and it shall work very fast as well. Either way, you will be the greatest President in the US.
Why I have all these insights whereas all US scholars, experts, officials ... never able to see? It is because I have a unique experience of helping thousands of homeless to move off homelessness USING MY OWN money. When one using others' money can not get the fact and efficiency. And, I have seen all these homeless issues expanded into huge scale, but, fortunately, I got Homeless Solutions. Without homeless solutions, it will cost YOU huge to help.
For example, it cost Bloomberg, NYC mayor, $33,000 and 11 months averagely to help move off homeless. But, it costs me a few hundreds. You can see if you are dealing with millions of homeless rather than thousands like in NYC, your burden is huge!!!
On the other hand, if you can find anyone who spend his own money and resources to help thousands homeless to move off street, that person can provide you the same very cost effective solution on Housing issue in general, after all, each homeless was evicted by landlord or foreclosure or lost job ...etc at one time of their life. How to quickly and cost effectively restore their life and productivity is the key.
Subject Thanks for sharing your vision
From The Obama-Biden Transition Project
Date Wednesday, November 19, 2008 1:20 am
Thanks for writing to share your thoughts on where the country should go.
There will be many more ways to get involved in the weeks and months to come -- and with a lot of hard work ahead of us, we'll be counting on you to help.
Thanks,
The Obama-Biden Transition Project
http://change.gov
:: Mr Cheng 1:22 AM [+] ::
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