Bernanke Urges Congress to Act Now on Overhaul

I think that large violent mob and or group do not like jail prison sentences over 4 years. And jail and prison conditions.(republicans) Strictness of politicians but prolife is correct.Zero desk, oxygen plants, padded chairs and some want decnt conditions when family shows up. Jesus says sorry. Gov is sometimes like an animal.Millionaires do not share to others very often. PIG. Gov does not assist. Mean business schemes cause anger. And mathmatics not used for helpful ideas. 40% of work pop now are women WHIcH means new numbers to figure. thanks. Rev 12:9. col 3:11. Rev 12:9!. Faith in holiness. Lord Jesus is a hero!Babys are a blessing. Snap out of it!! Band together.

andrew tucker Jesus of IN 9:35AM October 24, 2009

Let's face it, we can blame credit card companies all we want and lenders as well, but it's the people and their lack of knowledge of their financial situation that puts them in these problematic situations...The reason for the credit/lending meltdown has only a few simple reasons:

1. De-regulation of teh mortgage/lending industry. When a commitee during Bush Jr.'s administration de-regulated the industry, it became a free-for-all. Horrible lending choices at ridiculous interest rates were going out to people without credit history, or those with poor credit history, as well as those who had no room to take on more credit. Hence, they were not able to pay back the loans/credit, and therefore a meltdown where the credit/lending/banking companies did not get their money back.

2. The population of the US has grown to become very accustomed to material items and their dependency on credit cards to attain these items. Big screen tv's, expensive automobiles and their outrages leasing rates, huge homes, nice watches, expensive sunglasses, european fashion clothing, swiss watches, you name it!!! We want it all, but obviously, can't afford it. Hence, there is an issue where those that can't afford it are still willing to get it on credit cards that produce a high yield and soon, it becomes unaffordable for the consumer to pay all those companies back.

3. Consumers are not educated in regards to their finances, there is too much credit card fraud going on (just come to my town in Los Angeles, half of the population including my neighbors commit fraud and get away with it day in and day out. They're very open to discuss how they do it as well).

We need government regulation on these credit card companies and banks that obviously handle money without responsibility and provide it to consumers who use credit and loans without responsibility as well.

We aren't yet at the point where the population of the US knows it's limits. In fact, with all the advertising on tv and radio, social culture here makes you want to buy beyond your norms.

This is a recipe for disaster. Someone needs to get on top ot it... THE FED?

THINK4YURSELF of CA 3:23PM October 23, 2009