3 comments

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  Bill

  7 months ago

  America is in an economic quandary; we are trying to bail out an economy but are ignoring our consumers, the backbone economy. We can prevent record foreclosures (i.e. http://www.BuyMyHouseBeforeOurBankTakesIt.com) and business failures but we have to act fast.
  
  Our economic stimulus package is aimed at banks lending money to cash starved businesses. Unfortunately banks are hording money, raising rates, using bail out money for acquisitions, cutting credit and not lending only making the crisis worse.
  
  Our economic stimulus package should be aimed at restructuring America’s debt, to free up disposable incomes to build consumer confidence to increase sales, create jobs, prevent business failures, layoff’s etc.
  
  In a major natural disaster we offer long term low interest loans to rebuild. This “economic tsunami” calls for a restructuring of America. America’s is burdened in high interest debt. It is time to low interest loans, low interest loans are better than getting nothing at all.
  
  Never has there been a time where America has to offer long term low interest mortgages and applying good credit debt to income ratios to these loans.
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  Mike D.

  7 months ago

  Everytime I read an article like this, I wonder why did they wait. Senators have authority to investigate businesses. Neither canidate ever did. None connected the dots to what has been building for years. I'm a HS grad, and I'm not the only one who knew this was going to be bad. So when is law enforcement going to step in.
  Next, why is this so hard to figure out. The loans went bad, are bad and are not going to come back. The loans, whether mortgage,homeq,credit cards, auto are no good. Sold as garbarge and are still garbarge. They have already been resold many times over, so their face values are not what they were, and everyone with half a brain knows this. FDIC chief knows it, its why the loan mod's are being presented. There is a simple way to bottom out the loans, let the note-holders take the hit, most won't, because they bought at 20 cents on the dollar, renegoitate between 20-40% into a fix with a low rate from the government, like the stinking banks just got, and the mortgages are fixed, have value and can be bought as a safe investment again. Oh people might actually like safe investments again, ones they can see understand and know that thier money is safe. Bailouts are just more scams on the public, these thieves won't stop taking our money, period. (See AIG,parties.)(See banks hording free money).
  But maybe this just to complicated for people like your readers, who think some sophisticated mysterious super smart planners need to be employed. Instead of just honest facts for reasonable people to see. Niether canidate grasped this before, and still have not shown the guts to act now. Our system has been bleeding, we are in need of decisive action. Bush was ill served on this, it looks like Obama will be as well.
  MTD
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  Rosco1776

  7 months ago

  Over 80% of the calls going into the Senate and Congress were against the bailout and they still put it through. We now have taxation without representation!
  The markets and housing have to adjust itself, if it isn't allowed to then it will only be worse and for a longer period of time. Governments cannot create wealth!! I hate to say it but the people that couldn't afford the houses in the first place will be renting again, hopefully, if there are rentals available. It's going to be a rough few years folks, hope your ready!
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