Wall Street is showing its mettle, and rebounding on news of a concerted effort by G-7 countries to coordinate economic solutions.

Moving forward requires a number of truly unique actions in order to truly put a lid on this economic crisis.

Our new proposal includes:

• Federal Investment Corporation: A corporation set up at Treasury to act as the investment holding company on behalf of taxpayers, with a strong team of professionals capable of sitting on boards of directors as representatives for the taxpayer interests.
• Renegotiation of Mortgages: The Treasury and Federal Reserve Board should order banks to renegotiate loans sold to Freddie Mac or Fannie Mae, or that remain on their own books to fixed rate loans at a pre-determined 5.25% for a minimum of 30 years.
• Where borrowers can show a temporary condition, such as health or loss of employment, banks should be authorized to provide a payment suspension, provided the borrower makes deposits of at least 30% of the normal payment to be kept in a deposit savings account at the bank that may not be touched during the suspension of up to 12 months of loan payments.
• Banks should be permitted to re-book loans for 40, 50 and even 75 year programs.

We repeat our proposal to create an economic stimulus plan that focuses on small to mid-sized businesses. The plan specified previously would create 2 million jobs. It doesn’t require an economics expert to know that when people have stable jobs, they can afford to pay bills.

Most of all, we need to end the blame game. Everyone is at fault in this crisis, not one political party, nor one politician. In truth, everyone from the President to every single borrower and banker is equally culpable for the crisis we’re in today.

During election cycles, people tend to point fingers at their opposition to lay blame in order to gain support and establish fear. This year is no different and we’re hearing a large number of false and intentionally fraudulent statements in the media. To those listening, we suggest checking facts before trusting what’s said by those with political motivations. To those with such political motivations we say “put a lid on it!” Such talk in these economic times is nothing less than subversive and destructive.