Consider this:

The root cause of the banking mess is the sub prime mortgages.

Here's how to fix it without a bailout.

Put the people back into their homes with the original interest rate and leave it there. Most people could afford these rates. It was only after the banks started raising the rates that all hell broke loose.

Effect:

People get their homes back at an affordable rate, home is being maintained, communities are being maintained, banks are getting paid, taxes being paid, everyone wins.

Next, eliminate Rule of 78 once and for all. All mortgages should be fee simple interest. At the end of 10 years you own half your home, not 5-8% as it stands now.

Effect:

People have more equity sooner, more money available to spend in economy, greedy banks get fair rate of return instead of enormous amounts of interest over the term of the loan.

Next, cut credit card interest rates to 10% and leave it there. 30% and higher is called usury and you know it, but the banks are hitting people with it, the people who can least afford it.

Effect:

People out of debt sooner, more money to spend in economy.

To hell with the banks, they, their lobbyists, and political friends have had it made for too long. Time to think about the people again.

NO BAILOUT!!!