Banks, bonds, bailouts

[AMR40509]

I'm just amazed that there haven't been any comments today regarding the whole Lehman, Merrill, and AIG news today.

[Duster]

Well you know it just HAS to be the Democrats fault. I say let em sink and get this mess over with...need to stop those golden parachutes while they are at it.

[mrdux]

I heard today that the heads of Fanny Mae and Freddie Mac were cooking the books and getting huge bonuses on top of huge salaries. Most of the top people were former cabinet members of democrap administrations. Ken Lay of Enron died in prison and I guarandamtee there won't even be a congressional inquiry into this mess since the dems were the ones benefiting from it. Now us taxpayers are stuck paying up to 5 TRILLION to bail this mess out.

Heads should roll and before the election!!!!!!!!!!!!

[RocketRider]

The simple fact is that lending institutions were loaning money to people that couldn't repay it, they got greedy looking to pay big bonuses. The bubble finally burst. Simple economics, no one to blame but themselves.

I've lost a bunch of $ lateley, but I'm staying put. It will all pan out and actually be great in the next few years.

RR~

[Duster]

I heard today that the heads of Fanny Mae and Freddie Mac were cooking the books and getting huge bonuses on top of huge salaries. Most of the top people were former cabinet members of democrap administrations. Ken Lay of Enron died in prison and I guarandamtee there won't even be a congressional inquiry into this mess since the dems were the ones benefiting from it. Now us taxpayers are stuck paying up to 5 TRILLION to bail this mess out.

Heads should roll and before the election!!!!!!!!!!!!


See told you it HAD to be the Democrats fault....

[killinmammals]

The simple fact is that lending institutions were loaning money to people that couldn't repay it, they got greedy looking to pay big bonuses. The bubble finally burst. Simple economics, no one to blame but themselves.


Yep...greed killed this one...simple to see

[mrdux]

If there had been republicans behind this it would have been non-stop 24 hour coverage on every network. Since the socialists are behind it, not a frickin word except on conservative talk radio.

[barney]

I heard today that the heads of Fanny Mae and Freddie Mac were cooking the books and getting huge bonuses on top of huge salaries. Most of the top people were former cabinet members of democrap administrations. Ken Lay of Enron died in prison and I guarandamtee there won't even be a congressional inquiry into this mess since the dems were the ones benefiting from it. Now us taxpayers are stuck paying up to 5 TRILLION to bail this mess out.

Heads should roll and before the election!!!!!!!!!!!!
I love it! That word right there, had an uncle that used one similar to it, but his sounded more like "gar-in-dal'm-te-it", but I'm sure it has the same definition.

Myself, I don't believe in welfare, especially when it gos to millionaires! Let'm jump with a dollar store umbrella, instead of the golden parachute.........that you and I have to pay for!

[raktrakr]

The simple fact is that lending institutions were loaning money to people that couldn't repay it, they got greedy looking to pay big bonuses. The bubble finally burst. Simple economics, no one to blame but themselves.

I've lost a bunch of $ lateley, but I'm staying put. It will all pan out and actually be great in the next few years.

RR~I saw on TV earlier that lenders were actually giving out loans to people that had no income, collateral or anything just so they could be a homeowner. I told my wife a couple years ago if we wanted a big fancy house we'd have to quit our jobs. I guess I was right. As far as political partys go, they're both to blame, even though the housing boom hit during the Clinton years and The Dems have controlled congress for the last two

[WildmanWilson]

There's enough blame to go around for both sides. The corruption runs deep and thats why no ones making a big stink over all this. A whole bunch of people should be seeing the inside of a prison but nothing will be done. The American people should be mad as hell but most dont know whats going on. We have been completely crapped on by our government....but the story most hear is how they are coming to our rescue for our best interest.

[Ky'sFinest]

There's enough blame to go around for both sides. The corruption runs deep and thats why no ones making a big stink over all this. A whole bunch of people should be seeing the inside of a prison but nothing will be done. The American people should be mad as hell but most dont know whats going on. We have been completely crapped on by our government....but the story most hear is how they are coming to our rescue for our best interest.


once again, wildman explains it the best.

[trust me]

Remember when you had to have an honest 20% downpayment to buy a house? That was because when you defaulted, the bank would only be invested 80% in the house and could come out clean when they sold it at auction. Now, banks are letting you in a home for 5%, 3% or even 0% down. It's not against the law to do it, just against good banking practices. Now they're reaping what they sowed and it's costing the country big. I agree; heads should roll if they can show the books were altered to hide the coming crisis.

This is not a Repub-Demo problem, though the remedy may suffer from partisan politics. This was created by greedy bankers, pure and simple.

Not all banks are in this predicament. Most are still following good banking practices. It's time to weed out the weak sisters and the industry will be better for it.

I've watched my investments take a tumble too, but I'm not bailing out. They have a name for people that "buy high, and sell low." I don't want to be one of those people.

[barney]

Grandpa always said, mason jars don't only preserve fruits, they keep dollars fresh too!;)

[Bigspringhunter07]

ITS ALL ABOUT GREED!!!!!! The working person has no chance nowadays..theres always someone to stick it to ya..

[drakeshooter]

I saw on TV earlier that lenders were actually giving out loans to people that had no income, collateral or anything just so they could be a homeowner. I told my wife a couple years ago if we wanted a big fancy house we'd have to quit our jobs. I guess I was right. As far as political partys go, they're both to blame, even though the housing boom hit during the Clinton years and The Dems have controlled congress for the last two

You hit the nail on the head, as did Trust Me with his post about 20% down. I kinda seen this credit crunch problem coming in 1997 when I was a realtor with Coldwell-Banker. I was approached by a mortgage broker in Murray who had a buddy in the home appraisal business and was also an inspector for a government mortgage company. In short, he let me know that we could get loans for low income families with children, regardless of their income or past credit history. I had one deal with this fella where he brokered a mortgage for a young couple I was representing. They did not have a checking account. They had terrible credit and $200 to their name. Basically, the way the "scam" worked was that the inspector who was in the broker's pocket would "appraise" the home for whatever it took to get the loan with the catch being that the broker and the inspector pocketed fees that were 400-500% what a home buyer with good credit would pay. I remember getting the appraisal faxed from the inspector to my office and it was not enough to get the guaranteed loan. I called the inspector and related this and he said "Oh, I thought you said X amount. How much did it need to be?" I related the figure and he told me to throw out the appraisal and he'd fax me another for whatever amount I needed. After that deal I saw the "scam" for what it was and never dealt with them again. I saw this coming in a very distant kind of way.