Congress Will Force Bush to Accept Housing Bailout

BOB of CA

Bob of Ca must be living in a differnt world to say Bush did this. He need to look at the people that took the money. Franks, Dodds, Obama, Jones and the list goes on. To back track abit Bob go back and look who started this jimmy Carter.

Ken of OH @ Sep 28, 2008 18:00:37 PM

bailout not aceptable

why should we bailout the big guys.whwn there are people like us losing everything we own.fannie mae did and the goverment bought them and people like me.are losing my home and sanity.but the goverment is doing nothing to help me,but theyll bailout all the big guys.i was making 40,000 a year and my job went sour.and ive had a hard 4 months and my house is being forclosed on.......WHERES THE HELP FOR THE LITTLE GUYS.....

HAMIAM of FL @ Sep 25, 2008 14:57:36 PM

Prosecute Goldman Sachs

FBI should investigate Goldman Sachs trading on Hank Paulson's insider news.

J Snow of NY @ Jul 08, 2008 14:51:14 PM

Punish the lenders too

I agree with most of the commenters that defaulting homeowners should NOT be bailed out. They made bad decisions and should live with the consequences.

Still, it's not 100% their fault. There are a lot of unscrupulous lenders out there who made money conning these fools into buying homes they couldn't afford. Those people should be punished too. At the very least, there should be more public oversight into home lending.

naman of TX @ Mar 18, 2008 11:54:25 AM

Bailout for the stupid, lazy and greedy?

Why should I be forced to pay for the stupidity, laziness or greed of those about to default? I had no say in their poor decisions nor would they have listened if I did.

The government is ultimately responsible for this mess because it used its regulation and taxation powers to create the conditions for it to occur. The greedy, stupid, and lazy underclass of Americans then happily finished its "law of unintended consequences" part.

timstevens of AZ @ Mar 18, 2008 08:55:11 AM

It's a bailout, moron!

Bail out in economics and finance is a term used to describe a situation where a bankrupt or nearly bankrupt entity, such as a corporation or a bank, is given a fresh injection of liquidity, in order to meet its short term obligations. Often bail outs are by governments, or by consortia of investors who demand control over the entity as the price for injecting funds.

Often a bail out is in response to a short term cash flow crunch, where an entity with illiquid, but sufficient, assets is given funds to "tide it over" until short term problems are resolved. However, often bail outs are merely delaying the inevitable, as a government or investment structure attempts to avoid putting a large quantity of illiquid assets on the market, which would force other similar entities to write down their assets.

Following a March 14, 2008 announcement that the firm required emergency financing from the Federal Reserve Bank of New York and JPMorgan Chase in order to avoid insolvency, Bear Stearns stock price suffered a precipitous decline, with its market capitalization dropping by 47%, from $57 per share to $30 per share by the end of the day. On March 16, the firm agreed to be acquired by JPMorgan Chase for $236 million (approximately $2 per share).[2] Among Bear Stearns' assets most desired by JPMorgan are its prime brokerage unit and the firm's midtown Manhattan office tower

tommy of TX @ Mar 18, 2008 07:31:49 AM

Bailout?

Their was no bail out of Bear Stearns. In case you missed it they were trading at a 20 billion market cap at fridays close and were sold last night for $256 million. When you don't know what you talking about, it's time to sit down and shut up.

I guess you would have been happy if every investor with money at Bear Stearns lost their life"s fortune also? Then we would have seen a run on every other investment house in this country, then another great depression. Is that what you want? Then of course you could really whine. The fed loaned JPM money for 30 days, that's why the fed was created, should we now disband them?

Steven from St. Paul of MN @ Mar 18, 2008 00:59:05 AM

NO BAIL OUT....

I saw the adjustable rate loans...I was approached many times to buy into it....I DID NOT!!...Why.....BECAUSE I HAVE A BRAIN.... I REFUSE ANY BAIL OUT OF ANYONE THAT SIGNED A LOAN THEY COULDNT AFFORD....IF INDIVIDUALS ARE HEADING FOR FORCLOSURE, THEN FORCLOSE AND GET IT OVER WITH...SO OTHERS '' WITH BRAINS''' CAN BUY THE FORCLOSED HOMES.

Joe from NJ of NJ @ Mar 17, 2008 19:13:55 PM