Readers' comments on business news

Help for distressed homeowners | Feb. 7

Money not there for mortgage help

President Obama's newest homeowner financial help program isn't going to work and his advisers know it.

The Constitution of the United States forbids the government from taking anyone's property or other assets without full and fair compensation.

So for all the underwater home­owners out there, the unknown parties who actually own your loan would be entitled to receive cash compensation from the government for the fair value of the relief you get.

Suppose the average fair value (both principle reduction and rate reduction) is $35,000 per homeowner.

There are an estimated 2 million such homes in Florida alone, so the government would have to pay $70 billion in just this one state and then an estimated $700 billion for the entire nation.

On a nationwide basis, since houses in many other states are more costly than in Florida, the average may well be much higher than $35,000 and the total cost to the government may be more like $1 trillion or more.

The money to make that payment simply doesn't exist, so the program isn't going to happen.

Never mind that fairness would then require that every family that has already lost a home be offered a similar $35,000-plus tax gift (even if their creditors get all of it), and that every family that didn't get a loan (to later be forgiven or modified) should, in fairness, also receive $35,000-plus tax-free cash.

Rolf H. Parta, Bradenton

Enough to make brewers growl | Feb. 5

Archaic beer laws can't be defended

Tampa Bay Times staff writer Tom Scherberger's article on Florida's archaic beer distributions laws reminds me of the old joke about a dim-witted individual walking into a pizzeria to order a large pizza.

When the proprietor asks if he would like the pizza cut into eight slices or 12 slices he replies: "Better cut it into eight slices. I don't think I can finish 12."

Too bad we have to waste taxpayers' money to have our elected officials spend their time legislating such ridiculous, counterintuitive "laws."

All about the money. Sad.

I guess I'll just have to go with a "128" to go.

Ken Eckert, Sun City Center