How McCain, Obama Would Fix Wall Street

How can you be sure about Obama?!

What has Obama done for your country that leads you to trust him? Can you let an inexperienced pilot direct the plane in a very stormy weather? Democrats should have chosen Hilary with experience and economic plans.

Well... good luck America we are a spectator of your downfall.

Broja @ Sep 30, 2008 05:21:53 AM

BANKS,CEOS,LENDERS

ALLLLLLLLLLLL OF THE ABOVE SHOULD BE PUT IN PRISON AND THROW-A-WAY THE KEYS. GOD HELP US, OUR LIVES ARE IN THE HANDS OF CONGRESS AND THE SENATE. WAKE UP AMERICA, IT IS TIME FOR A CHANGE!

bessie gasparre of NY @ Sep 30, 2008 02:02:10 AM

Credit Card interest

How about regulating the amount of interest and the number of times an interest rate can be increased on credit cards?

I'm not talking about people who are making no effort to satisfy their existing obligations... I'm talking people who are determined NOT to file bankrupt when the going gets rough.. but those who ar trying to keep up with the payments even when it means going without everything but the bare necessities. Food on the table for the family, gas in the car to get to work, and housing.

When will the credit card companies stop punishing peopole who have lost a job or run into financial difficulties due to the rising cost of gas, groceries, utilities and housing?

Since when does it make sense to increase the interest rate on a credit card if you are having trouble making the minimum payment.... especially if you have had a very good credit rating in the past and the problems meeting the minimum payments stem from either an unexpected short term crisis (such as a major car repair), or a simple timing element... i.e. you could make the payment on the sixth when your bi-weekly check arrives, but you can't make it on the fifth.

Those of us who are struggling to meet our credit obligations, but occasionaly have a problem (because the savings have been wiped out, or other problems listed above) and continue to make the payment as soon as possible, are "REWARDED" with late fees (sometimes larger than payment due), and increased interest rates. Where is the logic in this? The end result can be nothing less than bankrupcy court and no hope of repairing the resulting bad credit for 7 years.

Dusty of CA @ Sep 30, 2008 01:47:32 AM

Financial Crissis and etc...

Here's a thought...

Have you guys thought about if Barack got elected into the White house, do you think he will get the job done? Do you think there's racist goes on in the senate? If so do you think the senate will let Barack get what he wants? I see Barack will have a hard time getting anything done. I think the country will be in a much worse situation than we are now. Just because he can not get anything done. In other words, the house will not make him look good white Republicans and White Democrats. I hate to bring up race into this issue, but I see that this will happen.

Just a my opinion...maybe it's just me. (I am not a Republican nor a Democrat, I just want this great country of ours to keep it being strong)I do not see Barack as being sincere. I see him as a used cars salesman, he will tell you everthing you want to hear. You will see if he becomes the next President nothing will get done our economy will go down the drain. On his fourth year, he will run again as an encumbent asking the people for four more years to accomplished what he set out to do.

One way out of this financial crissis that we are in is... people have been paying their mortgages on time until after the banks raise their interests after 5 years and double their payments. This is the problem. The government need to stop the bank from doing that. They need to step in and tell the bank to work with people so they can keep the economy going. Yes the bank have to make money, but are they making money when people abandon their home and go out to live in the street or in a tent. The bank need to say we will help you as long as you can keep making the payment you have been making for the last five years. It's the bank that are the crooks.

(More and more of tent cities are rising. More and more children are homeless because parents are out of a job. Let's work together on this and help our friends and neighbors. I dedicate this to the stinking Senate who can not work together. Work for the people for a change. That's the reason we put you there. Instead you lied to people. This is why you have Senate members tapping their feet in an airport restroom because they have time and money to be stupid.)

I bought several homes, I see on the loans by the end of 30 years the house that was $200k end up being $650k. That is tripple their investments. Then, the banks take these profits to pay their CEOs. The CEO retires riding into the sunset and you'll never see him/her again.

Here's hoping for the best to America and it's people.

K. N. of CA @ Sep 30, 2008 01:40:10 AM

A workable solution to the "BAILOUT FRENZY" the United States is suffering from.

I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a "We Deserve It Dividend."

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.. So divide 200 million adults 18+ into $85 billion that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a "We Deserve It Dividend." Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

* Pay off your mortgage - housing crisis solved.

* Repay college loans - what a great boost to new grads

* Put away money for college - it'll be there

* Save in a bank - create money to loan to entrepreneurs.

* Buy a new car - create jobs

* Invest in the market - capital drives growth

* Pay for your parent's medical insurance - health care improves

* Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it....instead of trickling out a puny $1000.00 ( "vote buy" )

economic incentive that is being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG -

* liquidate it.

* Sell off its parts.

* Let American General go back to being American General.

* Sell off the real estate.

* Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can "never work." But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 billion We deserve the "We Deserve It Dividend" more than the geniuses at AIG or in Washington DC .

And remember, The Family plan only really costs $59.5 billion because $25.5 billion is returned instantly in taxes to Uncle Sam.

Not only is this plan a "WORKABLE ONE" it is one that does not cost the American Citizens a lot of EXTRA money. For further details please feel free to contact me by e-mail at:

freegas4ug255@yahoo.com .Each request for additional details will be personally answered.

Raymond E. Gay of NV @ Sep 30, 2008 01:35:18 AM

Bill Clinton's economic formula to the rescue

We need a president who can eliminate the national deficit and

turn it around to surplus like former president Bill Clinton did. I believe, in order for the economy to be healthy, the

government has to be financilly stable. When we had surplus, the states received more money for all types of funds. That

equals more jobs and income for the people living in all states.

Also, welfare checks were fatter and business was good. Now we

have trillions of dollars of deficit which equals, dramatic cuts

on grants and money to the states which equals to loss

of jobs and income. Also welfare checks are cut down to 50% and

now business is slow if not closing down. More surplus equals

more money to the people equals more money to spend equals

healthy economy equals more jobs equals being able to pay the

mortgage. I don't exactly know how Bill Clinton was able to get rid of the debt, but he turned it around to trillions of dollars of surplus and life was good then. I think Obama and McCain should have a long talk with Bill Clinton. Of course,

going into war and spending all that money for the last 6-7 years isn't going to help.

Michael K of TN @ Sep 30, 2008 01:14:45 AM

Bail out

Why dont they prosecute the big wigs responsible and take back the millions and billions they got when they left..They all knew things were going on that should not be..

Is this not possible?...The millions & billions would sure help...

P.M. Abbot of MS @ Sep 30, 2008 01:13:55 AM

Meltdown and common sense

I watched all of the cable news networks this weekend and I would like to know what happened to "balanced news. I have not seen any statistics comparing the number of foreclosures to the 1980-65 collapse.

Since the 1980-85 collapse, Private Mortgage Insurance has been charged on all of the "sub-prime loans". In California, your property foreclosure begins with 90 days delinquent and takes another 60-90 days for the foreclosure sale. The "REO" in Los Angeles are currently on the market less than 15 days and are being sold at approx 10% over the asking price. In other words, if the bank lists the property at $300,000, it sells for $330,000 due to multiple offers. If the foreclosed loan was $500,000 then PMI should pay $170,000.

I would like to say that the finanical institutions and the Investment firms that packaged the subprime mortgages are the criminals.

In regards to the credit card securities, a government bailout could directly relieve individual taxpayers. The minimum payment on a $5,000 credit card is approximately $125 per month for 7 years. If the government paid off one credit card per family that save taxpayers that amount. This should only be accomplished if the banks agree not to issue any new credit cards for one year, roll back interest rates amd cancel the card that was paid. This money would flow into the securization asset and hopefully increase the value.

We need Adam Smith to explain in main street language what the major reasons (other than greed) for the collapse and how the financial house of cards stays together. Where are all the connecting dots as most of the country does not even understand "illiquid assets" and how it affects the banks ability to loan. In school, classes are identified by the subject matter and number. We desparately need a course in Financial Market 101.

Phyllis Newell of CA @ Sep 30, 2008 01:04:06 AM