So many people whine, complain, and agonize over what may or may not be done by the Feds. I wil tell you this, I have 3 business running at this time: RE business, Restaurant and a Retail Clothing Store. The restaurant is off by about 30% in sales, the retail store is off by 50% in sales ( and we expect hard competition from vendors who are discounting up to 75% on clothing items, since several stores in our area have announced their closings – Meryns, Circuit City, Linen N Thins, Weatherbeys Furntiture, and many more who are on the verge of closing) The RE finance business is off by about 60-70% in the commercial finance market. For our retail store, we have seen 2 tenants vacate the location. In our Restaurant location, we have seen 3 tenants vacant the location. In the office complex for my RE business, I have seen 5 RE office shut down and close over the last 12 months. I can state, first hand, that I have clients ( owners of commercal buildings, most especially, retail and office buidings) who have lost larger tenants ( retail stores, furinutre, home interior spaces or any home product releated business tenanat) in the last 24 months and expect several more to close their operations and leaving the commercial owners with an estimate 20-40% vacancy in their commercial building. In some cases, we have new commercial development that is sitting empty, with no signs of courageus tenants lookig to open up in a 10 unit commercial center when there is no anchor tenant, or 2nd tier 10 tenant looking to sign a 10 yr lease agreement.
Today, to stay in business, for a small business in these markets, is tough.

My argument is this: if there is no effective plan to stop to slide of housing prices, and no plan to stop the tsumani of foreclosures, then I can see hundreds, if not thousands, of SMALL BUSINESS shut downs in the next 12 months –and thousands of layoffs of employees across various sectors of the economy.

As a business owner in California, my retail store cannot continue with another 10% drop in sales. This is now the final cut off line for the business unless I get a reduction in my commercial by about 20% – 30% — and, that, in turn, sounds like a mortagage reduction plan.

My RE Business will be shut down until and the restaurant business may continue, with a very slim staff ( we have dropped several position and would need to drop 2 more as we replace family members into these positions. so, there you go, we have added to this growing problem and we will be forced to push to the edge of insolvency as we cut costs, cut people, serve smaller portions, etc)

So, the point in this description. I am not alone. I would argue there are thousands of other small business, family focused business, who are facing the same issues and will be forcd to cut into their oprations and push as far as they can until they close. And when they do, if they do, you — the public who whines, complains, makes those knee jerk reactions comments about “moral hazard” issues, etc regarding homeowners, “liar” loans etc — will see another rise in foreclosures from hard working family businesses. What then? Just let it all fall down — and just marvel at the chaos that will unfold, point the finger, call out names at hard working american family business who is affected by the the guy who pays his bills, and the guy who lost his home?? The color of money is still green in the cash register — but, this time, there is less green in the drawer.

At this point, A PLAN, any effectve plan that STOPS the foreclosure is the only viable solution to avert a financial disaster in this country. If not, then I know I it will be a matter of time before GM, AIG, FORD, Chysler, your local new and used car dealership, and the thousands of small business owners will close up their business and default on credit lines, auto loans, equipment loans, commercial and home loans. You name it, its comming soon. And people are concerned about NOT helping the homeowner in distress. I think Mr. Mortgage’s focus is correct. A pragmatic plan to stop the bleeding in the mortgage industry is the solution, anything else is, well, an exercise of time.

Now they devalued my cash with the bailouts and to ensure I cannot open a business to compete.

Nice.

Having the government to pay your mortgage is even worse than having the government to pay your rent on welfare (12% of the house’ value each year vs. 5% or less). The scoundrel lenders who should never have deluded themselves and deluded you into bidding the house prices sky high would just get paid by the government at the expense of your future gainful employment and the productive work of your three children! Why would you want that?! I say, punish the irresponsible lender now by putting the house back to them! Renting would cost much much less.

Auto manufacturers next, and then airlines perhaps, and then bond insurers off course, and then… WHEN will this all end? PLEASE somebody… anybody in Washington GET A CLUE!!! Their has got to be somebody in Washington smart enough to stand up and speak out on this. Shame on YOU Ron Paul for not taking your message to the street!!! You collected the money and didn’t spend it to deliver the message this country needed to hear!!!

I am cynical perhaps, but for damn good reason. We cannot continue down this “Bail Out” for everyone path or we will cripple our country and our future. WHY don’t they see this? I just don’t understand how so many supposed great minds can continue to get it so wrong time after time. Is it somthing in the water in Washington? I mean seriously… how do you explain such incompetence? How can one explain such miserable handeling of the situation at hand? It just makes no sense to me!!!

PRICES MUST BE ALLOWED TO FALL BACK TO THEIR PRE-PONZI SCHEME LEVELS—This is the only way the problem will be solved.

NO MORE BAIL OUTS OF ANY KIND!!