List buddies, I have been working hard on figuring out the current Money and Banking crisis and have come up with some plans that my wife and I plan to take to Washington, D.C. in May. We plan to present the plans to each member of both Congressional Banking Committees
One of the plans involves plain old common people starting State- Chartered, Narrow Banks under existing laws and regulations. No new laws are needed to put this plan into existence. I envision the first group of banks being given charters to open banks that would be chartered solely to give 4% mortgages on single-family, owner-occupied homes. Because of the enormous leverage involved in bank lending -- the profits that such loans would generate are enormous. I figure something like 35% on the invested capital is likely. This is based on the fact that all banks can lend 10 times the amount of its invested capital and the operating of such a narrow bank will have minimum expense. I anticipate and recommend that the charter would limit the actual cash returns to the bank stockholders to 6% -- with the other 29% being used for the common good -- primarily to go into a fund that would go toward nationwide Healthcare and Social Security Insurance. It occurs to me that someone on this list might like to open the first bank of this type. You can see a rough draft of this plan at http://www.alphabeticalist.com/Money%20Section/howtosolve.html I am working on the plan -- so the website version is not the final version. The first page of the website has a link to another "Silver Bullet Plan" and gives my general ideas on the subject of Money and Banking. You will find links to all sorts of solid information on the subject. <<http://www.alphabeticalist.com>> My background is at <<http://www.alphabeticalist.com/backgroundMRC.html>> This is a pro-bono project for me. I have no financial interest or profit motive in any of this. I would appreciate comments, suggestions and advice from list members. Do any of you know your way around Washington? Regards, Marty Carbone / [email protected] / 760-603-1910 --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
