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a Lee y te Sa iets Maint Pie atid ahoatl Mr. Mario Leanza -2- May 24, 1979 Everyone else does this, however, and I really question the long range value. (2) They could continue on their present course, which is not particularly effective insofar as I can observe. (3) They could make a gesture towards this nation and begin to build a track record to show to the American govern ment and the American businessmen that they are willing and anxious to establish a business and political rela- tionship. They could begin this on a modest basis and move gradually over a period of time. Our government, unfortunately, is a slow and tedious process. The government of Libya is capable of making almost instant @ecisions and executing those decisions immediately. We must advise your distinguished Prime Minister that he must be patient with these Americans and build a gradual and effective and solid reputation with them. I am ‘therefore outlining some thoughts in the paragraphs below Which I would suggest that you review and that you might pass along to the Prime Minister for his consideration, either by telephone or simply forward this message to him, The American people feel very strongly about the housing in- dustry. It represents the home which is the security of virtually every citizen, and we have an excellent standard of living and an excellent housing industry in this nation. The housing industry is suffering today, however, and needs help from the standpoint of borrowing money. I, through my associates, am affiliated with the largest mortgage investing company in the nation, the Lomas and Nettieton Mortgage Investors of Dallas, Texas. I am also directly affiliated with Colonial Mortgage of Washington, D.C., which is owned by my old Italian friend, Frank Spinetta. I would suggest that the Libyan investors begin by discussing and lending several hundred million dollars, or at least a hundred million dollars, to one of these substantial mort- gage firms. The money would be a loan for a period of time from 8 to 20 years. The loan would be absolutely guaranteed by the government of the United States of America and totally - risk free. It would produce an interest rate of $-1/2 or 10% to the investor. It would be the type loan that would catch the attention of officials in Washington if it were made in, I would suggest, an amount of $100 to $300 million dollars. Lomas and Nettle- ton presently have loaned out eight billion dollars. They PERRET FED PTR Riel egitew ern tT sme a fee gt TEEN weet te Ne Oe EE RO ETD: