Some of this money should be set aside to make up the difference between sale value and current value on these homes. If you offer people no other alternative, they will gladly trash their credit and walk away from their mortgage entirely. It is estimated that in some areas, these walk aways are accounting for 70% of current defaults. Not addressing this issue will ensure the failure of these efforts.

I say, “Sure, bail away,” BUT and it’s a might BIG but, there’s going to be some kicking ass and taking names. If this were Japan, there would be a LOT of folks getting ready to fall on the sword. Since we know that’s NOT a cultural option, I say hang the bill on the people who caused it.

And a nice rider to the legislation would be to make the management of such firms criminally liable for

I’m sure, too, that certain existing regulations were ‘relaxed.’ Who relaxed them? Make them pay too.

A C C O U N T A B I L I T Y !!

In the private sector AND the public.

DD:
Right on top of things I see.
I agree totally.
Bail Away, but some group of people have got to pay.
And I hate to let the folks in here know it,, But The Pitch Forks are going to poke both parties pretty hard.
Both sides of the Isle are at fault, and Nancy Pelosi had better start looking into the mirror when she starts looking for people to blame.
Oh there’s going to be some people burned at the stake before this is over, and the flesh that burns the hottest will cause the smoke to flow through both the house and the senate.
Bush warned us back in 2005 that something like this could happen, but that’s all he did, He should have done more!
I fault Bush for being a whimp when it came for fighting for what he believed in more than anything..

Wild Thing,

You’d think that if there’d be one thing EVERYONE would agree upon is that people be held accountable.

Right now, the only ones under that onus are thee and me.

Jed Clampett

Whether the thief has a D by his/her name or an R makes no difference to me. In my book, they should be done as those believed to be witches were done (symbolicaly of course, just destroy their lives as they’ve done the rest of us). Those ‘believed’ to be witches did alot less damage than these folks who invented these ‘financial instruments’ and then unleashed them on the public via a group of dishonest lenders looking at only profit and ignoring what could happen down the road, even to themselves.
I can understand the DarkWingManiac trying to defend the Republican party, he’s been doing that since he started posting on these boards, regardless of how absurd the republican position has been. Senator inhoffe and his unacceptance of human intervention being the cause of global warming comes to mind. The GOP had 6 years to analyse and remedy the situation with full control of government, that is all three branches and both houses; yet chose not to. I guess the political contributions they were receiving were much more important than national solvency. Then again, what do I know, I only predicted this would happen a year ago and was ridiculed because the economy was ‘fundamentaly sound’. Good morning Vietnam!

Vote for McCain/BulldogWLipstick and you can be sure they will start WWIII to divert your attention from how the GOP has refused to take off it’s republican hat and sent the economy, the environment and global stability into a tailspin.
Anyone feeling safer yet? They dissemble you know, it is time to dissasemble their schemes and imprison the bad actors. Let money be no defense as it was in the OJ trial.

Peace

So, anyone want to venture a guess what the national debt might be come the end of the year?

Send the bill to the RNC in care of George Richard Bushney. But no, those two will ride off into the sunset having looted the U.S. Treasury

And the lambs mill about, confused.

Jed Clampett

well, it looks like our industrial partners the Chinese have another crisis on their hands. Seems like their shoddy products have bitten them in the arse, tainted milk killing babies, wow. So, do we bring production back to the states were there is some regulation still and put american workers back to work instead of keeping chinese in virtual slavery, or are corporate profits and the Executive board’s salaries much more important than safety?

In pakistan, a Marriott hotel was bombed with a bomb so intense that the devastation is reminiscent of the Oklahoma federal building bombing. The BBC reports that it looks as if a Tonne of explosives was used. Alot packed into a truck, I guess that $5 Billion a year we were giving to the ISI to keep them from bombing us is about to fund their return to power. May not be Musharraf this time, but it will be the same entity nonetheless. Does it seem strange to anyone else that we would put that much money in the hands of the country that engendered and sponsored the Taliban and al-qaeda as well as the terrorist attacks in India over kashmir? Are our security services really as inept and gullible as they seem to be, or is this really part of their plan to destabilize the globe and start the third global conflict that the military industrial complex wants so badly?
Is their plan to make us safer entail total destruction of the ecosphere? Man, why are the people in America allowing their govenment to do these things around the globe? Do they think people in other countries are as oblivious to what is truly happening as they are? oh, yea, americans don’t care what the rest of the world thinks until 19 guys destroy two buildings and kill 3000 people.

BTW- How’s the war on cancer going? How many people does that enemy kill? How much money is being spent on that in comparison to the military industry to keep us safe? HMMM

Peace… ’cause war is just plain stupid.

Good.

Palin’s retard kid & her grandkid can help pay it off

A little poem about the market crash:

The market dove.
Where’s Karl Rove?
Did he help the crash?
Should we take his stash?
He’s talking dope over on Fox
Let’s strip him to his knee-high socks.
The market dove…
O where O where is Karl Rove?
BOKO. bokonest@gmail.com.

To equate the Iraq War- which was led by ideologues and which was deliberately sold to the American public over a period of time- with the efforts of Bernanke and Paulson to respond quickly to a crisis and prevent markets from imploding is just disingenuous. This move may or may not be the right one. Given the events of the last few weeks, I think anyone who purports to know the answer to that with confidence is deluding himself. If the point is that this probably isn’t 1929, fair enough, probably. But it certainly isn’t 2003 either.

A quote from Nobel Prize winning economist Joseph Stiglitz:
“It was all done in the name of innovation, and any regulatory initiative was fought away with claims that it would suppress that innovation. They were innovating, all right, but not in ways that made the economy stronger. Some of America’s best and brightest were devoting their talents to getting around standards and regulations designed to ensure the efficiency of the economy and the safety of the banking system. Unfortunately, they were far too successful, and we are all – homeowners, workers, investors, taxpayers – paying the price.”

$700 billion works out to about $2000 per citizen. What will we be given for that money? Since the taxpayer has effectively bought Freddie and Fannie, and a piece of AIG, with-who-knows-what-else to come, each person should be given shares in it. And then, if it makes profit, that should go to the shareholders in dividends, not to the executives as a golden parachute for their incompetence.

Johnny,

Run for Congress. You’ve got my vote. Uh, but you might want to change your name this year. John is good.

How come when it comes to bailing out rich guys on Wall St. and D.C., republicans are quick to say, “for the sake of us all we must all do our part to avoid the possibility of financial ruin, another Great Depression” But when it comes to the possibility of slightly higher taxes, taxes that would help re-build our infrastructure, improve education, end our addiction to oil, improve the environment, and improve the quality of life for all Americans, not just a few, then the all-for-one analogy goes twirling down the crapper, and suddenly the pukes responsible for this are stand-up guys who need our help. But you, your spouse, kids, neighbor, brother, sister, kid’s teacher, pastor, etc. are all on your own, every man, woman, and child for themselves?

Parched Papa,

That WAS a rhetorical question, wasn’t it?

Freddie Mac and Fanny Mae top campaign donations in the Senate
1) Chris Dodd – (D)Chairman Senate Banking Committee
2) Barack H. Obama (D)

You figure it out…

Jed Clampett

Shouldn’t the Executive Boards of both freddy, fanny and AIG be stripped of the salary they have been paid for the last 5 years and imprisoned? Hey, we may have half the money we need right there… come to think of it, do it to all the executives that received backdated stocks as well, any theft over $1000 is a felony, yet these guys steal millions and all they have to do is return the stocks? makes alot of sense huh?
Almost as much sense as a man involved in a hunting ‘accident’ waiting till the next day to talk to police and not having any consequences.

Peace

whats so hard to figure out about that? they simply wanted to contribute to the side that is going to win.

This is so unbelievable. Well, not really, I guess. The party of limited government and economic responsibility strike again. But, that’s not to say that the Dems are blameless either. Although, we know who should be holding the lion’s share of the blame. So, is this really just a well orchestrated plan to foul up the waters for Obama and Biden in their first term so that the Rebubs. will have plenty of ammunition in ‘12? Could be. The bigger the crook, the bigger the reward we seem to give them. This country is completely hypnotized or completely apathetic or completely ignorant. Or worse, and more probably, a lethal combination of all three. I feel sick.