'People Are Outraged' Over Banking Situation

Investigate Barney Frank

I'm a Massachusetts residence who has to put up with Barney Frank's non sense over the years. This clown needs to be investigated for his actions for the mortgage meltdown rather then allowing him to deflect the blame and appear as the white and shining armour who is here to help those who are suffering.

People of Newton and Brookline Ma, Wakeup!!! I don't understand why you voted Barney back into the senate this fall.

The people's bail-out

I would love for us, the people, to have been bailed out of our debt. That would truly stimulate the economy once we are debt free. That creates responsible* consumer spending, more cash flow coming in to the people's pockets, lifting fear and uncertainty from all Americans. Can you imagine the stock market once knowing that consumers (the force that drives the economy) are free of debt and ready to spend again?

*Responsible consumer spending: Now that we are debt free (if the case), I for one, will never want to be in debt again; therefore, us that have experienced (and are experiencing) debt, due to situations that are out of our control; we be responsible in out spending, but at the same time will spend, stimulating the economy.

Mad at Barney Frank

Barney's too happy to deflect blame away rightfully reserved for himself. For years he coerced the industry to make bad loans. His abuse of power, conflict of interest and fiduciary malfeasance is beyond comparison. Following on the heels of his bad judgment and bad behavior we have the banks, the borrowers, Fannie, Freddie and Wall St following Barney's example and trying to deflect their CONSEQUENTIAL guilt. Yes, we Americans are outraged, but some of us are savvy enough to know that the slimy Barney Frank started this snow ball long before 2007.

Old fashioned banks/savings

Th people that are truely outraged are the ones that have paid off their houses, lived within their paychecks. All these people with adjustable mortgages they could not afford, yet they blame the banks. Yes, the banks are at fault, but so are the people. Let the banks fail. It's called risk/reward. We have several smaller banks & credit unions here that did not give 0 down, no documents needed, all adjustable loans to anyone with a pulse. They are doing just fine and do not have "bad" loans while there competitors have all kinds of troubled loans. Good old fashion lending.

Banking First!!!

The banks should have come first before the stimulus because the banks must be reregulated before recovery can ensue. True, people are unemployed and hurting but with bad banks they have no foundation upon which to rely or recover!!!

Mortgage/Income Ratio

FYI the proper ratio of mortgage to income is, and has long been, 28% of your gross salary.

If homeowners are already within this ratio, why would they need assistance?

Does it please me that some of my money is going to go to assist people who overbought their homes? No. Am I happy that some of my money is bailing out lendors who made poor lending decisions? Again, no.

WWJHD

What would Jesus have done? Can you imagine Jesus living high on the hog riding along the road in a fancy new Chariot? "Hey you...blind man. He'd call out...need a lift?"

No..Jesus lived by example. He ate, and walked along dusty roads with the poor, and the sinners. The so called, "Powers that be" of the day did not like him too well. What we need today are leaders who think of others...more than they think of themselves. When Jesus choose men to help him in his arduous task. Who did he choose? Did he choose 12 holy teachers of the law who were highly educated in the "Harvard of that day"? Did he choose 12 rich and lofty? Did he choose 12 men who only thought of themselves?

No..Jesus choose 12 very common men. Some were fishermen. One was an accountant, and one a tax collector. Funny that the only one in the end to forsake Jesus and to turn him in...to be crucified...was his accountant...Judas.

Today we have lots and lots of his sons and daughters on Wall Street. Yes..the spirit of Judas still lives on. In the spirit of all those who would rather gain 30 pieces of silver than to bless and honor thier nation and thier brothers. We don't much hear of brotherhood anymore do we?

Wm. Czander is not far off. Perhaps each person making more than 100 thousand in banking and on Wall Street should be made to serve the common folk. This is what Chairman Mao and yes...what Jesus did over 2,000 years ago. When Jesus was no longer on this earth he knew he had 12 honorable men who shared his vision. He had taught them well..by example and by showing them first hand the needs of the common man.

Sadly...for the most part...those who come out of Yale and Harvard have no such vision or wisdom. They are only taught the cold hard facts of getting ahead. America will soon fall off the cliff of finicanal ruin, and when it does. Don't blame God! That black Bible has been sitting there all these many years collecting dust, and you've never bothered to read it's eternal wisdom. If you had....dear America...I doubt we would all be in this mess were now in.

My website is: TheRevelationman.com

Here to serve...where the rubber meets the road!

Give homeowners a chance

The American Dream of owning a home is dying fast. I hope they will do what they say and reduce the mortgage payment to 1/3 the income. That would help stop people from abandoning their homes, because the mortgage rate is more than the house is worth. It could take years for the housing market to recover from this.

Due on Sale Clauses Will Fix the Real Estate Issue

End the due on sale clauses on all real estate loans. Existing loans should have marketability and assignability, not subject to a re-write or re-look of the bank. Period.

don't confine pay destroy hubris

What we have in our executive constellations is a culture of entitlement. Lets do what Chairman Mao did for his executives. Have them spend the equivalent of a year in the rice fields. Every executive should have a sabbatical. They should be required to go off and work to help the poor, invalid and needy. Lets call it the CEO peace corp.

If we do not destroy CEO entitlement/hubris we will see this class war continue and we will have a culture of executives who turn their attention toward outwitting Washington controls.