Readers suggested a topic about sweeping up after the housing bubble. "Weekend topic suggestion: How would 'we' (HBBers) clean up this mess? Now that the damage is done, we can play 'policy wonk' amongst ourselves. What would we do if we were in charge? If we were Bernanke, Paulson, members of Congress, etc.? How would we solve this situation to bring it to a resolution? And how could we prevent it from happening in the future? We’d have to examine how we got here in the first place, maybe there’s some fundamental problems that need to be handled, like requiring kids in school to become financially literate."

"For example, on a local level, I would have liked to have given some of my county commission members a good pasting for the completely irresponsible way that builders and developers were given leeway to do whatever they wanted, to the detriment of the community."

"The housing bubble and the bust speaks to my ongoing concern about how 'business' and corporate entities have been allowed to take precedence over 'the people.' Why cannot the two entities co-exist for the good of each other? (Gee, what a concept, and why does it have to seem laughable and naive?)"

"Anyway, what would we do about it if we were put in charge? For starters, if I were Bernanke, I’d do the Volcker."

One said. "I would try to introduce the concept of fear into those who are fearless regarding the acquisition of debt. It’s crazy when multitudes will commit thirty years of future earnings to a bottom line of a contract that they don’t care to understand."

A reply, "I agree with this. Perhaps financial history should be a subject taught at the high school level?"

Another, "Grade school. Scrap the Christopher Columbus propaganda, and replace it with Dirty Joe Kennedy and the rise and fall of the 1920's bull market."

One was frustrated, "I’ve tried so many times to warn people about whom I care concerning this mess. Either this mess is so unbelievable that people don’t want to believe it or I’m not convincing enough…any suggestions on how others on this board have been able to convince friends & family that there is a housing mess and what could occur as a result of it?"

One looked at incentives, "I would work to make sure risk remains connected to reward. When those who knowingly make junk loans are immediately and amply rewarded for these loans and at the same time are allowed to pawn the junk off to someone else then you end up with the mess we are in now."

Another wants a decent return on savings. "How about if the Fed declared a cease fire in the War on Savers, and focused on getting that U.S. national savings rate back up from negative levels?"

One had a press release, "I would issue a public statement containing the following points:'

"No taxpayer bailout for mortgage holders. They are responsible for repaying their loans they contractually agreed to, or arranging otherwise through private markets."

"Anyone filing bankruptcy from multiple home loans, who committed fraud on mortgage applications (either by claiming primary residence or inflating income > 20%) is going to spend a minimum of 24 months in federal prison, unless they agree to pay back the full amount as stated on the loan."

"Then I would let the free market sort out the mess. Zero down loans are fine for those with a stellar credit or repayment record, especially for a primary home."

One made this point, "Fraud is already a felony. Like anything typically responded to by more legislation, if the present laws had been enforced in the first place, there wouldn’t have been a problem. We could really enemize the industry by focusing on the enforcement side."

"Imagine undercover FBI agents working as loan officers, account execs, *borrowers*, HA! So much fraud, right out in the open… Start sending people away in jumpsuits and those guys will fall in line. Hell, they’re used to commission pay with little loyalty, all they need is a $$$ upside to start ratting each other out. The whole biz got way too fraudy."

And another added, "The U.S. already has too many people in jail. Fraudsters should make restitution for their fraud. If there were no Fannie Mae, and no bail-outs, mortgage stooges would not be able to pump-n-dump fraudulent mortgages, as there would be nobody to buy them. The free market really does work, only we’ve never really tried it yet."

One was for self-preservation, "Save yourself, then stand back and let everyone else learn their lesson. This country needs a national BK just to clean house and get it’s priorities straight. Only then will we prepared for whatever the future may hold."

One poster hopes the message gets out, "What would you do, if you were in charge of something in government or business that would clean this mess up and prevent it from happening in the future? 'They' may not listen to us, but at least, if we blog it out here, our policies and ideas are out there, so that people can see the right moves and compare it with the future idiocy that is sure to come."