How Wall Street Continues To Doom Itself

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Politicians Out of Touch With Average Voter

Just look at the headlines. The voters call their Congressman and express their views and they do the exact opposite! No bailout of Detroit (and they are asking for more) We need to bail out the banks (and we see the outrageous bonuses for colossal failures!) California legislature and Gov Schwarzenegger raise taxes in the worst recession (sales tax up 1%, Vehicle License Fee (almost doubled) and state income tax up 0.25%. Don't these guys get it? Obviously we need to send them a message....you're fired!

Ray of CA @ Mar 16, 2009 19:21:39 PM

Mankind's Corruption

This is just what the bible fortold. Mankind's selfish and greed. Stop thumbing your nose up at God!

Bottom Line. End of story.

Now, whose ready for a bible study?

usvicky of MA @ Mar 12, 2009 22:49:31 PM

Our Elected Officials

The ultimate cause of the political and business greed is simply our willingness to put up with it. We don't need term limits - simply vote the rascals out each election and limit the time they can put their hands in the cookie jar. As for the greedy business leaders, just don't patronize their businesses. Ultimately we all share in the mess because we are too lazy or too dumb to vote intelligently and too caught up in the stock market greed ourselves to make our outrages have any effect. When the citizens of a Republic realize they can get on the gravy train by being syncophants to their favorite politicians, they will cause the very mess they are now so outraged about.We are now living with Milovan Djilas's "New Class" and our freedoms are rapidly being obliterated. It's simply greed and amorality on the part of all of us that got us here.We are reaping what we ourselves have sown.

Alan White of GA @ Mar 12, 2009 20:23:25 PM

Load of Crap!

My husband and I bought and sold a home in the peak. Not because we knew about the peak, because we outgrew our starter home. We paid a "fair" price according to the realestate agent (who by the way was a friend). I, after 2 yrs. in the home wanted to follow a childhood dream and open a clothing boutique. I borrowed from my home to do so. I made what I thougth was a solid investment for my future. I spent my whole life wanting this and 1 1/2 yrs. writing my business plan and researching my industry. NOW because of this nightmare the U.S. is going through, I may loose everything through no fault of my own. Here I pay all of my debt and I work no less than 55 hours a week....I don't even take a paycheck anymore! The corrupt people of this country that continue to push us down the hill, refuse to step in and really help those that need and deserve it. I'm okay with the fact that my house is now worth $125,000 less than what I paid for it because I bought it because I love it and want to live there. What I'm not okay with is the fact that I may loose a fantastic business due to the lack of funding and people's inability to support businesses big or small BECAUSE THEY ARE LOOSING THEIR JOBS AND HAVE NO ACCESS TO CREDIT! When are the leaders of this country going to wake up and realize that they have to give money LARGE SUMS OF MONEY to middle class American's who are doing the right thing. If you are paying your bills and you haven't walked away from your mortgage because your upset about the depressing value of it - you should be rewarded with a fat check. Those are the people who will put money into the economy. They will spend money responsibly. Giving money to people who act irresponsibly (whether they are rich, poor, or middle of the road) WILL NOT do a darn thing for this country. So if you want to "fix it" our all powerful government, then honestly "Fix it!" Stop telling the American people that they have to go out and spend money to fix the situation when they don't have a job or credit or if they do have those things they have to worry about holding on to both.

Angela of AZ @ Mar 12, 2009 16:46:20 PM

LONG LINE OF CORRUPTION

Lets face it thers a long line of corruption like a coal train that seems to have no end from the housing industry to wall street and just about everyone else inbetween, The real coprite is GREED and it wont get better intill these people get a consceince. The housing crisis was the straw that broke the camals back that opened the eyes of the american people and boy did it sure reveal alot. CHANGE IS A MUST, REGULATION IS A MUST because without it greed, lying and swendling takes over. Im sadden to see so many people lose there home in my area and the majority of them is because of the scam from the real estate firms,the appraisers,the morgage company,and the bankers. They would put people in new homes under a contract for deed or a wrap around deed with a ballon payment in 2 years not knowing what they where getting into. 2 years later their moving out because the appraiser who basically worked for the builder or banker was getting kick back who over appraised the home by 20-50%,the real estate firms mislead them about the terms and conditions knowing good and well nobody would loan them money on a 30% over priced home and in many cases like here OZARK MO. a morgage company would set it up to have payment sent to them and they where suppose to send it to the bank but they didnt this went on for years.These or locals who ripoff there nabours and the scam is still going on other than the morgage company that went under to protect themshelves.I OAULIFIED FOR A $180,000 NEW HOME WITHOUT A CREDIT CHECK just come up with 1% down sign the dotted line and your in for 2 years, the deception the misleading was endless, the contract was between me and so called owner come to find out there was several leins on property and the scam goes on. The real estate firm, the so called owner, the appraisers, the banker, then corperate pigs want bonuses for lying decieving and leading america into bank ruptcy ya right . HOW CAN WE FIX WALL STREET WHEN WE CANT EVEN FIX OUR STREET.THE PROBLEM GOES FROM TOP TO BOTTOM OUR STREET TO THERE STREET, REGULATION IS A MUST, THE FEAR IS,THAT WHICH BECOMES THE REGULATOR BECOMES JUST AS CORRUPT AS WHAT IT REGULATES? WHATS LEFT? WELL START WITH OUR STREET BE RESPONSIBLY DO RIGHT TO OTHERS BE THERE FOR FAMILY BE A FREIND TO FREINDS AND GUARD YOURSELF AGAINST THOSE WHO TAKE ADVANTAGE OF INNOCENT PEOPLE. " WHERE NOT AS DUMB AS WE USED TO BE ARE WE NOW?" OH BY THE WAY I DIDNT GET THE HOUSE

AN AMERICAN of MO @ Mar 12, 2009 13:08:20 PM

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Rick Newman

Rick Newman

The global economy is mysterious, even scary. Chief Business Correspondent Rick Newman connects the dots. In addition to his writing for U.S. News, Rick is the co-author of two books: Firefight: Inside the Battle to Save the Pentagon on 9/11, and Bury Us Upside Down: The Misty Pilots and the Secret Battle for the Ho Chi Minh Trail.

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