Wall Street's Crisis Hits Main Street

Tator-tot, what did I tell you about getting your head on straight before posting in the business section? Hmmm??

How does your mind work that the economic woes are in any way, shape or form the responsibility of liberals??

You are right, though, that your posts should never make it past the police.

The real conservative corporate formula: Buy a simpleton Texass President + make horrible business decisions + ask We the People to bail you out = happy billionaires and a healthy GOP re-election fund.
In other words these neo-cowards have turned our once prosporous capitalistic economy into one that PRIVATIZES PROFITS while SOCIALIZING RISKS.

We've all noticed that you still haven't gotten 'round to enlisting yet Tator?
Let us guess, y'all have "other priorities" right?

The Southern Republican Party has been waging a War on the North and the rest of America since we REAL AMERICANS taught those traitorous maggots that lesson back in 1865...and, in the wake of religious whacko George Bush"s un-American regime, I now know why.
Like the Taliban or al Qaeda, hyper religious Evangelical Fundementalcases like George W. AWOL actually hate America and the freedoms she promises.

In my opinion we should float the idea to those leeches down south that perhaps they should secede from the Union again.
And we REAL AMERICANS should re-assure them that this time, we won't stop them.
Allowing them back in after their treasonous secession, was the biggest mistake we REAL AMERICANS ever made...and we"ve been paying for it since Reconstruction.
Come on all y'all NASCAR children; "IF AT FIRST Y"ALL DON'T SECEDE, TRY, TRY AGAIN!"
"The Confederate States of America" has a nice ring to it doesn"t it hillbillies?
Come on...JUST DO IT...trust us, y"all won"t be missed!!!

JohnKemp (who still hasn't enlisted for the Iraq Oil War) wrote:
"Lib programs always produce the ass-opposite of their stated intention; never see one fail to do so yet."

So slick, your President's multiple WARTIME TAX CUTS and corporate deregulation was actually designed to undermine our once stable stock market, our healthy housing market, affordable healthcare, good paying jobs here STATE-SIDE?
Becasue when you look back Einstein, that's exactly what your genius President has wrought on our once prosperous economy.

NOW GO ENLIST...BUSHY!

Did y"all get that?
According to this silly little Bushy, even though his party has controlled all three branches of our once honorable government for 6 of the past 7 years, it"s the liberal"s fault that our stock market is as stable as Sean Hannity at a gay pride rally, that our homes are worth only a fraction of their loan values, that our once good name is now Mudd all over the world, that inflation is at a 17 year high, consumer confidence is at a 26 year low and that the record budget surplus handed to George W. AWOL, by those very same liberals, is now a $4 trillion debt.
Man, being a republican politician has to be the easiest job on Earth; you work for people too stupid to know you"re screwing up.

Ho Hum, another foaming-at-the-mouth kool-aid drinker.

Boo!

Only the beginning....

Let me get this straight... people have lost $100,000's on their homes and Doofy wants to send them a check for $600? In the meantime, he will bail out his fat cat banker buddies for $30 billion?

Why do we pay taxes in this country? Is it for our politicians to live a luxurious lifestyle, and screw $5,000 an hour hookers (not that I have anything against that)?

Isn't it strange that people use $100 million dollars for a job that only pays $400,000 per year?

The bailout of Bear Stearns is another example of George W. Bush catering to the rich folks, and ignoring everyone else. What's new?

We have no business telling a corporation how much to pay their executives. Citigroup gave a massive pay package to their ineffective past CEO and if some idiot wants to buy stock in such a company thats their business...and business hasn't been very good. The right thing to do is let them these companies fail. We already have a 400 billion dollar deficit.

How did people without enough income buy such high priced homes?

Think about it ! How could they get someone to pass on this loan a being honest.

The property's value had to a lot more than the money loaned against it.

So you hoave to look at the property Appraiers being in Collusion with the loan maker who go the loan approved with the Underwriters.

When the loan makers sold the loan then the loan value / risk was covered by the appraisal.

Now the truth comes home. The RICCO ACT needs to be applied here.

If I understand your post, you're worried that those of us who bought the too big house on a too-large mortgage are getting bailed out by the government. Not so my friend! Isn't happening, won't happen. WE are already foreclosed upon. We've lost our homes, our credit, our credit cards and in some cases our cars. We cannot change jobs because a credit check is deadly. Try to rent an apartment!

No, why should anyone want to help us? Our government chooses to spend $30 BILLION dollars helping Bear Stearns! Not us. Not New Orleans. Not Minnesota's infra-structure. Not Cleveland's Schools.

They will eventually help all of those who took advantage of us fools! Imagine I thought I was fine with a $350K condo and a $260 mortgage. When the interest rate of the mortgage went up and my refinance was even higher because I had too much credit (had been delinquent on any at this time!)....the whole house of cards came down.

So look, my friend, don't worry about us greedy idiots who bought all the property and then re-financed the hell out of it. With mortgage lenders calling, mailing and emailing us incesantly, we were total morons to take the bait of low-interest rates, enthralled as our home values in California went thru the roof!

But., I digress. I have a nice apartment in Los Angeles and somehow landed a good job. I am working with my creditors to pay off what I can and at the same time find the cash to buy a car....no credit available here. Heck, I wouldn't give myself a loan.

So, Joe, have a good life, but worry about something more important than the government helping out its citizens. Not when there are so many corporations in need!

The ignorance displayed by your post is truly breath taking! Rather like the dim bulbs who argued that the Fed should just let Bear Stearns declare bankruptcy...

The issue isn't about bailing out people who took out mortgages that were too large but the people who were duped by unscrupulous lenders who often took advantage of often less than educated individuals by serving them bait and switch applications with a lot of unexplained fine print. Many people are guilty of being overly trusting. We have "truth in lending" laws in this country in case you missed it. If government fails to enforce these laws, then it has an obligation to make restitution to those who got screwed by unscrupulous lenders. Now that isn't so difficult to understand is it? There are perhaps even more significant (and self) reasons to support a foreclosure holiday: No one wins in foreclosure especially when there are no buyers for foreclosed homes. Homes that sit empty attract vandalism, and, along with unmaintained homes, negatively affect property values and future home sales, which in turn affect government revenues and the economy. There are many reasons for the government to step in and help people but if you can't figure this out for yourself my guess is that you're either not very bright, simply callous, or so hung up on conservative dogma that it isn't possible for you to see the benefits of anything but nonsensical laissez fair policies.

Excellent, spot on.............