We agree. So here are a few real proposals that could be done if we had the will. Halt all foreclosures and let people pay what they can afford. Jail the lenders and legislators who got us ALL into this mess. Zeroize all debts so people can rebuild their credit. Cut taxes so people have money to spend and reignite the economy. Stop government spending by giving to the states all those things the Constitution says the federal government cannot do. Finally, issue a gold-based currency that can control inflation.
I like that idea. Null and Void all contracts and reenter them reading “pay only what you can afford”.
If you could manage to sue your alleged lender and get your hands on the Pooling and Servicing Agreement defined by the trust(s) your mortgage obligation landed in you would be pleased to learn that any amount received via credit default swaps, over-collateralization, and third party payments over and above the amount agreed to on the contract you signed at closing is due and payable to the borrower.
Yeah, that's been tried. It's called government housing and welfare. How's that working out for ya?