The wonderful thing about travel within San Juan County is that it’s usually so communal, as I experienced two days ago when I traveled from San Juan to Orcas Island. I went upstairs on the Evergreen State and started chatting with Paul Vierthaler.
He told me that, when he screams at the television upon hearing federal bailout news, one of the things he suggests is this resolution of the mortgage foreclosure crisis:
Establish a program to re-issue mortgages from sub-prime, interest-only or adjustable rate, to a 30-year fixed mortgage. This would stabilize and benefit the homeowner, the bank and the local, national and global economy, whereas current credit, payment and foreclosure processes harm the homeowner, the lending institution and the economies.
Vierthaler noted that the auto industry has reached a saturation point, and that Anericans don’t need to produce or purchase a new car at the rate which the automakers have been producing them.
If we’re really interested in fixing some of these problems, let’s utilize our brains and energy to implement solutions rather than fixing blame or playing victim.
Vierthaler also suggested that the federal government allow the motor companies to fail. His reasoning is that the companies’ assets will then be bought up by viable business interests, whereas bailout or “rescue” funding to the existing companies will only further the mismanagement that has led to multi-million dollar executive pay, unsustainable benefits and continued corporate welfare.
It is too easy to claim irresponsibility for solutions due to the complexity of the problems. We must start wherever we can, take in information and civil arguments, and create a climate where solutions are viable.
A couple of years ago, when I questioned Washington State Ferries’ decision to go forward with revamping the Anacortes Ferry Terminal to the tune of $119 million, I was told that the decision had been made and the plan was going forward. That was before the 2007 legislative session, wherein lawmakers mandated that WSF’s income and expenses be more closely scrutinized. If questions can’t be satisfactorily answered, maybe they should continue to be asked.
