My Idea to Save the Economy - Our Own Bank!

Rather than begging the bankers to lend the money we taxpayers give them, why don't we set up our own bank?

Here is how it works.

1. Let's ask the government to distribute the $1 trillion new money (most likely) promised to banks or car makers to about 160 million working-age man and woman based on the taxes one paid in the last 5 years.
2. Distribution can be based on the following simple math: 100% distribution if one can match 5:1. 80% distribution if one can match 4:1 ... We can have $5 trillion new money to lend if everyone participates to the full amount!
3. The money has to be locked in a separate deposit - only account for 5 years. During the five years, one can decide who to lend to or what to invest in - it is your money!
3. Individuals have the freedom to pool money to form a community bank of 200 or less to gain scale and diversify risks. Online banking is encouraged and services can be provided on pro bono basis by federal and state government or NGOs.
4. Any lending by the community bank has to be voted on.

Moral hazard is much easier to avoid by a community bank than by a national bank like Citi or Bank of America!

Besides, we will become a much more efficient society after this!