istartedi's Journal: Open Letter to Congresswoman Anna Eshoo

Stop Obama's plan to sell FNMA foreclosures to private investors in bulk. These properties should be made available to all regardless of political or social affiliation.

It's understood that putting the properties on the market en masse could have negative impacts due to supply/demand fundemantals.

Here is a suggested course of action that addresses that issue FAIRLY:

1. Charter a corporation to hold, repair, and rent the properties, with the understanding that they will not be sold into the market for a fixed period of time, and thereafter only a fixed percentage per annum may be sold (e.g., 5 years of holding and no more than 5% of holdings per year sold thereafter).

2. The corporation must be publicly traded so that it will be subject to the full transparency required of any other corporation, and so that anyone who wishes may invest, regardless of who they know or donated to.