If a Wall Street banker loses his shirt, we're here to help! If YOU lose your house, well screw you.

[SoonerPride]

Let the system meltdown!

Bring on the Second Great Depression!

Either that or the federal government needs to take over all the subprime loans to bail out all those "fundamentals" of our economy, you know, the PEOPLE, who are losing their homes and moving into apartments or in with their parents OR UNDER BRIDGES and BAIL THEM OUT GODDAMMIT!

I'm sick at my stomach about the unrealized paper losses in my 401K and IRA.

But I'm more sickened to see 1/3 of the homes in my new neighborhood (built in 2004) for sale or in foreclosure. These people, these "fundamentals," are my NEIGHBORS. They are young families and retirees. These are people who did nothing wrong but apply for a loan that WAS affordable one day and then tripled in price. How is that THEIR fault?

Why is that once again the PEOPLE get screwn whilst the white collar criminals get off?

Oh I know, they're the ones who matter.

GRRRR.

[Crazy Dave]

1. Oh it gets even better if you can believe it...

My superpug sister-in-law and her husband say that the reason all the banks keep failing is because of all the deadbeats out there not paying for their homes

[Neshanic]

2. It is a waiting game. Thebanks knew it would come to this. The government would bail them all out.

[Crazy Dave]

4. Well of course

They saw what Reagan and Bush's daddy did for the savings and loan industry in the early 80's and said "hey, us too"

Bail them out with tax payer money, fire all the CEOs but give them millions of same tax payer money in pensions. That's how you show some love to your friends.

[Liberal Dose]

3. Just about sums it up

[SoonerPride]

5. exactly!

how depressing

[dtotire]

6. Krugman thinks it might work--compares to Swedish bailout in the 90;s

(snip)
We don’t know yet what that “comprehensive approach” will look like. There have been hopeful comparisons to the financial rescue the Swedish government carried out in the early 1990s, a rescue that involved a temporary public takeover of a large part of the country’s financial system. It’s not clear, however, whether policy makers in Washington are prepared to exert a comparable degree of control. And if they aren’t, this could turn into the wrong kind of rescue — a bailout of stockholders as well as the market, in effect rescuing the financial industry from the consequences of its own greed.

Furthermore, even a well-designed rescue would cost a lot of money. The Swedish government laid out 4 percent of G.D.P., which in our case would be a cool $600 billion — although the final burden to Swedish taxpayers was much less, because the government was eventually able to sell off the assets it had acquired, in some cases at a handsome profit.
http://www.nytimes.com/2008/09/19/opinion/19krugman.html?hp

[redqueen]

7. Time to make a bunch of calls...

thanks for that info... I'll definitely be passing that around.