George Soros Mortgage Reform Plan

George Soros has proposed a plan to clean up the mortgage markets, rescue the financial system and, theoretically, get money moving again.

The plan requires the elimination of Fannie Mae & Freddie Mac. It requires that banks hold much of the risk and do all of the servicing of their own mortgages.

And it would tie mortgages to bonds in a way that would keep a homeowner from ever deeply underwater on his mortgage.

This plan is based on a Danish model that's already up and working and seems to be functioning very well.

Take a look at the details for yourself. Do you think such a plan would work here? Is it worth a try?

I hope the Obama administration will take a closer look.