Social Lending - Ideas for Change in America

Instead of nationalizing the banks, just nationalize the "toxic" debts. Have the US Gov take ownership of all forclosed property at an amount that bank can afford to lose. Yes the banks should lose a little. The US Gov would become the largest land owner, and it can use that resource to stimulate the economy later on. The banking system would already be repaired. Municiplaities may have to eat the property taxes but then again they do share some responsibility as they helped caused this by pushing to have the county appraisers to raise taxable values on everybody year after year. - by bob crespi