Schumer Urges Countrywide to Help Refinance Loans (Update4)

I was reading the below BLOG and find it hard to believe that the United States Government can not find a solution to help Americans that are in foreclosure.

Bloomberg.com: Worldwide: "Aug. 29 (Bloomberg) -- U.S. Senator Charles Schumer called on Countrywide Financial Corp. to waive prepayment penalties, refinance loans and eliminate ``above-market fees'' to help homeowners struggling to make payments on subprime mortgages. Countrywide, the biggest U.S. mortgage lender, should stop paying higher commissions to brokers who steer borrowers to high-cost loans that ``are designed to fail,'' Schumer told reporters in Washington today. ``I am calling on Countrywide, as our nation's largest lender, to bury its bad business practices and reverse some of the damage it has already inflicted on our housing market,'' the New York Democrat said. Schumer, a member of the Senate Banking Committee, has been among the most vocal lawmakers seeking tighter restrictions on mortgage brokers. He introduced legislation in May to set U.S. standards for brokers, including requiring them to assess a borrower's ability to repay at a loan's highest interest rate."

You know there is a fairly simple solution to solve these problems.
1st the government needs to set up a government funded loan company that buys notes on houses in foreclosure. They then need to reevaluate the terms of that loan allowing for a cheaper payment. This may require them to stretch the note over 40-50 years. I know there response is that the shouldn't need to bail these people out. Well that may be true. You cant say the government leads by example they show us exactly how to misappropriate funds we are in how many trillions of dollars in debt? Are Social Security is in what shape? The fact is that the government should help the people instead they find new ways to screw the people. The government also has an obligation to turn this country into a profit making country not a debt creation country. By creating these loans they will start making money with our tax dollars instead of spending it. If they would adopt this new philosophy we may find that we create a new richer country. Any good corporation is always on top of the day they know times change and if you don't stay ahead of the competition you will loose. The United States needs to take a good look at this country as a corporation and realize to be strong the key is to teach its people how to manage money well. Our country is the greatest country in the world. I just wonder for how long with the retards we choose to elect. Most of them have companies that are successful you would think they could come up with a good way for us to make money besides taking it from us.

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Wayne Money