Bank Bailout-My solution

This morning I wake up to hear Bank of America
needs another bailout package of 20 billion
dollars. It clicked in my mind that I have a credit
card at BOA that is under $3000. that I
need paid off. Then the bailout plan in my mind
became very simple.

Let's match the Bank of America (HSBC & Citibank
works too I have cards with them also) credit
card holders with their Income Tax Returns.
The government has all our information -this
is not a problem. Now they can weed out the
Bill Gates, Warren Buffet, Oprah Winphrey,
and Brad Pitt income levels and pick the first
round of households making under $75,000.
a year. If there is still bailout funds available
after that income group(I doubt it!) then the
government can move up income levels in
$25,000. increments.

Next the government can use these billions to pay
off each credit card for those Americans who see
no end in sight. A letter can then be generated
by either the government or the bank stating
that the current bailout has now paid off the
balance owed by that individual to said bank.
Those costs to generate the letters and mail them
to the bank customer are also paid from the
bailout funds for that bank.

Guess what? Everyone has documentation of
where the money went. No executive salaries
were paid, no trips to resorts, no bonus plan
paypouts.

Now the bank must act responsibly like any
other business. By receiving payments on
credit cards they are not seeing charge offs
in bankruptcy and are receiving revenue in
the form of regular banking transactions.

The American consumer who is losing jobs,
homes and everything else that was part of
their American Dream may see some tangible
relief in this scenario.