Ordinary people need the bailout too?

I am sorry but that is just insane. How much money are we talking about? :wtf:

Do the democrats in the congress have a price tag for their version of rescue plan?

I have no problems with having oversight or a salary cap for CEOs, however it just makes me angry that we as taxpayers have to share the burden for bad mortgages of "ordinary people".

Fixing only wall street wont address the root cause of the crisis.

That piss you off too?

After all they made home ownership available to people who never would have been able to get a home under tighter lending practices. How did people not see this coming? Stated income loans of $350,000 with interest only or adjustable rates starting at 10%.

David

...not see it? Isn't it THEIR JOB to assess the risk to themselves too? I mean, they only deal with money every day....

They didn't think property values would decrease, they thought property assessors were actually assessing property values and they got way to freakin greedy. I'm not making excuses for them. Conservatives were happy because everyone was making money and the housing bubble was masking the problems with the rest of the economy and liberals were happy because the less fortunate and increased rates of minorities and non-traditional families were able to buy homes. Unfortunately the housing bubble was just that a bubble and many of the people who could finally afford to buy homes really couldn't afford the homes that unscrupulous agents and lenders talked them in to buying. The bubble burst and here we are. I realize that's not really popular to throw the blame everywhere it belongs in an election year but that's just how I see it.

David

My problem is that one side of the equation is being rewarded for their "dreams of avarice" while the other is basically being told to shrivel up and die, they asked for it.

On top of that inequity, this bailout of the financial institutions won't help the economy. It's bad money after good into the pockets of those who can most afford to learn the error of their ways, leaving us little people to deal with more rising inflation and unemployment -- on top of falling property values, etc and so on -- including those of us who were lucky or smart enough to steer clear of dodgy mortgages.

The problem is insolvency. America is bankrupt. Throwing more funny money at the financial markets isn't going to change that minor detail.

Also provide extensive oversight and protection in the future.

David

...strict oversight and protection. But let me just say I'll be greatly surprised if we get even that much in the final package. Paulson doesn't want it, BushCo and much of the GOP doesn't want it, and evidently it's a "deal killer" for the interested corporate lobbyists.

Maybe the Dems will surprise us. If so, and you're really a medic, may I faint in your arms?

Schumer seemed to shoot down a lot of the really strong provisions this morning on NPR.

David

number like 95billion.. about the same price tag as buying AIG... so, now its too late and all this worthless paper is worthless.. the gig is up... So, actually helping people stay in their homes or having the Govt help negotiate loans that homeowners could afford would have helped the mess in the first place.. Mainstreet makes Wallstreet... Productivity, work, and supply/ demand make for strong investments.. People who don't have money aren't going to buy junk when they cannot afford it.. A real wage growth in America would have actually stopped the bad mortgages in the first place.. people would have real money and real savings to be able to afford homes within their means.. Even rental properties in certain areas are too much for the avg pay that people are taking home.

AND if we all are going to buy this bad paper, I think we should get the assets.. Take those homes and put them to use, rent them out for families that need homes.. make something off this mess.

That is NOT a bailout, it's simply letting people continue to pay a reasonable rate on existing mortgages. It's the least we can do, considering we're BAILING OUT the banks that gave them the loans in the first place.

The Bush Administration has been running the regulatory commissions for 6 to 7 years and allowed all these bad loans to go through. This is not a problem of a few people getting mortgages that shouldn't have, this is a problem of allowing the rich financial houses to take unreasonable risks, and have the Government pick up the bill when things go haywire.

The Republicans are all about the rich making money, and increasing profits at the expense of the little guy.

blaming the victim, that'll solve the problem for sure.