Sunbeams Are Free · @JackDeTate
6th Jul 2010 from Twitlonger
I'm not an economist, but I can run a company budget & think I have an effective way to make some adjustments to cash flow. Here is what I think of as a balanced solution to an out of balance problem.
Banks, Hedge Funds and Financial companies holding and selling mortgage derivatives should pay a fee per share to cover foreclosed property maintenance. This money would be given to counties based on foreclosure property rate and cost of maintenance.
It would do some good:
1. The money would be spent to maintain property owned by financial institutes and paid out of a fee per share pool.
2. It generates Jobs in the community that is under blight pressure, easing pressure on unemployment and welfare benefits where needed most.
3. Maintaining the property contributes to community value, pride and the local economy
4. Since it is prepaid annually, Counties can budget and collect reliably and at low cost. Many individual collections today rely of courts and long, costly suits.
5. Health services will be happy to have abandoned pools and spas cared for. Less encephalitis and other blood borne disease.
This is a plan to ease some of the pain and place the costs in the right place – the property owners.