LET'S FIX THE ECONOMY THE EASY WAY

The Government has bailed out corrupt corporations. They have pardoned felons. They have created business plans for corporate America that will cripple the taxpayer for decades. ...and left in the dust is the man on "main street" trying to raise a family and coach in the local youth program. There is a way to stimulate America, build pride in community and put confidence back into our economic outlook.

Banks now have money to lend and mortgage rates are at a historical low, but 50% of potential buyers can't qualify because of their low credit scores...even though their income would support a mortgage. The irony is...many of their credit scores have been artificially destroyed by the unscrupulous lending practices that have been occurring for several years. We have a large number of families in America who have had to go through the foreclosure and/or bankruptcy process and we are now discovering that it wasn't always the fault of the homeowner...hence, the financial crisis in America today.

Instead of further bankrupting America with fantastic corporate bailouts, why don't we "pardon" Americans' credit scores and allow families to apply for mortgages based upon their merits as members of their communites? Banks can use their standard business practices to qualify a potential borrower but not use a "credit score" as part of the equation. This would stimulate home buying, create value in home ownership, spur more home building and stimulate the building trades, give a giant boost to the economy and re-ignite the idea that Americans should have the ability to raise their families in a home they OWN! The beauty of this...it comes at no cost to the taxpayer. Where is the flaw in this? No one gets a free ride, but no one is being shackled by the ridiculous (in most cases) and arbitrary credit scores.

Let's cut the American people a break and quit racing toward a depression.

Please take the time to respond to this and point out whatever flaws this line of thought has. Is there a better way to streamline this idea and make it work? LET'S FIX THE ECONOMY!