Comments on: Who Do You Blame for $700B Bailout Failure?

By: J. Martinez

J. Martinez — Fri, 03 Oct 2008 20:52:56 +0000

Correction:
This not the end of the World, what we need is learders who will lead and not make decisions out of fear

By: Jaime Martinez

Jaime Martinez — Fri, 03 Oct 2008 20:34:28 +0000

I say ney to the Government Bailout!!!!!!!
It is time that “We, The People”, take charge of the mess that our Great Leaders, Wall Street, and the Mortgage Industry, have gotten us into, by voicing our opinion. Not only are they at fault, but we too, have to share alot of the blame “yes we the people, for allowing ourselves to think that we can afford more than what really can, for trying to keep up with the Joneses” intead of living within our means. We need tell them that if this $700 billion burden passes we will not vote for them. It makes me sick to my stomach to even think that us and our children, and our childrens’ children will have to deal with this encumbrance for years to come. There is a solution instead of “Congresses’ quick fix, long term affliction”. Instead of me duplicating somebody elses comments let me refer back to Frances Overbeck , October 1, 2008 reference
This not the end of World, what we need is leader who will lead, and make rational decisions and make them out of fear. The have always bounced back.
Dear Congressmen and Leaders of Our Geat Nation,
think about us, “We The People”, thank-you and GOD BLESS, GODSPEED!!!

By: larry george

larry george — Fri, 03 Oct 2008 14:55:35 +0000

2nd time considered ( do not pass this bill) (10/03/08)

By: Grant Abbott

Grant Abbott — Fri, 03 Oct 2008 14:29:58 +0000

The governments involvement let the CEOs act irresponsible. So who is to blame, we are because we keep electing the same boobs into office that started this mess. Now these same boobs want to fix it? I don’t think so. Less government means less hands on our money.

By: Bill Carroll

Bill Carroll — Fri, 03 Oct 2008 14:08:31 +0000

It’s a dumb ??? Who is at fault? All of us who live in the USA for not requiring the proper checks and balances that a free market needs to survive. Greed drives this. Greed is a good thing. Unrestricted greed is a bad thing. Rules need followed and the rules were not there this time

By: Brown

Brown — Fri, 03 Oct 2008 01:35:40 +0000

Senator John McCain has urged the Bush administration to bypass Congress and spend a whopping one trillion dollars on bad mortgages (debt from 2001 forward could be anything from soup to nuts.)
In three interviews on Tuesday, the Republican presidential nominee called on the US Treasury Department to address the economic crisis independently and without congressional approval.
****************

. what the washinton talking heads aren’t telling you about this “bailout” is.. and what Warren Buffett and Hank Paulson know ..all of these bad loans (bad debt inception 2001 to current)have been pushed so far down the line, leveraged, leveraged and leveraged so more..ultimately they’ve found themselves being carried by vehicles know as CDS’s..Credit Default Swaps.. the spreads on those things have widened steadily as each bank has fallen..the urgency to get that bailout down is to keep the spreads from reaching the point where these swaps have to be redeemed (By who?)..and that number would be 55 Trillion dollars.. main issue is illliquidity. If banks can sell this debt to the government,(typically you sell assets) it gives them cash to lend. If the federal government holds on to this debt, and gets some equity in the process, eventually they may turn out to be a fine investment once property values rise (hugh assumption these are not all mortgages and this practice has been in place since 2001)- which they will eventually (what G have you seen ?). The danger is that without credit,(got us into this mess to begin with) we might slip into a recession (or worse) (what on earth could be worse!) AMERICA SAY No !!
The TITANIC is sailing again, get your Free Ticket

By: B. Brown

B. Brown — Fri, 03 Oct 2008 00:58:08 +0000

Anyone who actually believes the line “we will resolve the blame later” is out of touch with this government…..there is no later just gimme gimme.

I not sure if anyone has taken note of the lack of “Democracy” this country was founded on For the people, By the people..and I keep hearing this is in our best interest. NOT !!
We as a country have allowed a DICTATORSHIP to evolve in the last 8 years.
Insanity is Insanity, how do you justify a 700 Billion Hole and then offer a solution that spends 850 Billion (this is just for starter) telling me you are looking at what’s best for me !!
There is more to this than meets the eye, we need to allow the economy to take the natural course on “SELF CORRECTION”, I don’t know any of the 5.6 million out of work who are looking to get credit or buy a car, do you? so the credit crap is credit crap.

Here is something I came across, CDs typically are “Certificates of Deposit” the article states CDs “Credit Default Swaps” in 2001 were 919 Billion and have double each year
today the known total is 55 Trillion, this number exceeds the value of the NYSE 51.8 Trillion. These Credit Default Swaps, is another brainchild of Wallstreet, I have yet to locate the creator. Based on the date it appears we can credit the current administration…….Insanity I would like to see how many bad checks and past due accounts you can peddle and how much you can come up with. We have been banking on bad debt for 8 years, these are items that customarily are written off and removed from a Companies financial.
We the People have been treated like unwanted stepchildren, MARCH ON WASHINGTON

http://money.cnn.com/2008/09/30/magazines/fortune/varchaver_derivatives_short.fortune/index.htm?postversion=2008093012
Fortune Magazine 9/30/08 **check it out

By: Brenda Davis

Brenda Davis — Thu, 02 Oct 2008 22:32:44 +0000

Blame? Clearly, the Democrats alone had enough votes to pass this catastrophe without a single Republican vote, if they were solidly behind it. Personally, I applaud the ones who had enough sense to vote against it. Blame? Well, let’s start with the borrowers who choose to take on more financial liability than they knew in their heart of hearts they could afford. The lenders didn’t ‘trick’ them. The most critical information in a mortgage document is spelled out in the first half of the first page in bold print and everyone who takes out a mortage is given amortization statement and shown the bottom line of what that mortage will cost them over the life of the loan. Blame? How about the builders who built house after house when sales were not keeping pace with construction, simply because they could get the money to keep building. Blame? How about ACORN, who uses strong-arm tactics to force lending institutions into writing bad loans. Blame? How about Barney Frank, Chris Dodd, Nancy Pelosi, and others in Congress who either flat-out lied, or else stuck their heads in the sand and didn’t want to see that IndyMac, Fannie, Freddie, AIG, and others were in distress? How about Barack Obama (who has intimate ties to ACORN), Barney Frank, Chris Dodd, and others who benefited from looking the other way. Blame? How about Paulsen and Bernanke who didn’t scream early enough or loudly enough. Blame? How about the Democrat-controlled Congress, which has done virtually nothing for the past two years, has the lowest approval rating in history, and has caused the economic condition of the country to steadily decline ever since they have been in office. They want to blame the economy on the war, but historically, the mechanics of war actually stimulate the economy. They are a bunch of idiots. Who is NOT to blame? George Bush. Newsflash: He doesn’t control the weather, either.

By: J Newbold

J Newbold — Thu, 02 Oct 2008 17:56:49 +0000

It’s not funny that Bush, the Candidates, and the Congress have all refused to address the subject of Illegal Immagration to the tune of Millions!!!!!When was the last news you’ve heard of this subject….. ROUND EM UP and SHIP EM OUT….NOW

By: J Newbold

J Newbold — Thu, 02 Oct 2008 17:51:02 +0000

Now is not the time to Blame???!!!! Give me a break???!!! That is the same thinking that got this Nation into trouble in the first place….. Sounds like another credit or check-kite scam……