Bush calls for the bailouts, Democrats jump on-board to making a resolution. I thought the last eight years would have taught these fools a lesson. Instead, they seem to listen to Bush and following his orders. Whatever happened to not trusting Bush. That he is for the rich?
The same people (Senate Banking Committee) that didn't do a thing years ago are now the ones with have to rely to solve the problem.
Now they want to please Paulson, a guy who came from Wall Street, to provide Socialism to these failed institutions.
Despite anger of the taxpayers, Senator Reid said it's Wall Street and Main Street. What about the rest of Americans not involved in either of the two?
Everyone, quit paying your mortgages because bankruptcy court will help lower your monthly payments. Thank you government.
No, I want EVERY home owner's mortgage lowered. What you do from there is your business. Want to ruin your credit score?
But then you can now sell your home because it is worth what you can sell it for on the open market.
Right now, everyone who sells their home takes a loss, if you bought it in the last 5 years or so. Generally speaking. And all the people walking away from their mortgages are why the banks are collapsing. But now the banks want the gov. to buy back the bad loans for FULL PRICE. In other words I owed $200K and the house is worth $150, the banks are still getting $200K for them.
So as crazy as my or anyone else's proposal is, it is better than what Bush is trying to push.