As we watch the housing market bring down capitalism, we are witnessing a huge robbery upon us, in the form of this $700 billion bailout that Henry Paulson is requesting. He wants all that money, no strings attached.

That money could pay for a decaded of health care for all Americans!

Paulson, a crony of bankers must be regulated and controlled before he tries to steal again. Write to your congressperson and senator., to let them know that you know what's up.

With that $700 billion, we're going to be purchasing bad debt. How about we start tracing this bad debt back to the houses and the people living in them? After all, we will own the mortgages, so, we'll also own the houses.

Take each house, and when the owner defaults, do the following:

1. Let them stay in the house, so they don't become homeless or enter the rental market.

2. Rent them the house at market rate. sell them an option to buy the house later. For example, let them rent at $2,000 a month, and $200 extra for the option to buy.

3. Take this house and hire a management company to run it - this will be jobs for out-of-work people. Take the house and have the government purchase a mortgage from a capitalist against a portion of the house - this will raise cash. Sell the mortgage holder an option to buy, at a lower price (say $80 a month).

4. When the market rebounds, say in 10 years, as the price rises to a certain predetermined level, the government will give the tenant an opportunity to exercise the option to buy. There will be a window when they can buy, and when the window closes, the second option that the mortgage owner has can be exercises. If they opt not to buy, the house will be put on the market.

5. Once sold, the revenues from the house will be used to pay off the mortgage, or the purchaser can take over the mortgage. There will be a possible loss at this time, and the taxpayers will foot that bill.

This scheme will temporarily socialize housing for all the people upside-down in mortgages and living in apartment buildings that were purchased with bad paper. It will also allow the government to build the long-term capacity to operate socialized housing for the people. This will tend to depress the speculative real-estate market.