The Monster That Ate Wall Street

The Monster that Ate Wall Street is named "Greed" and if left unchecked, it will always be destructive. We can not allow those who believe unchecked greed is Capitalism to prevail, for they have no alligiance to the country and its people! These so called Capitalists only care about the bottomline with little regard for the long-term.
King Curtis of PA

TCNW: You obviously haven't tried raising children in a low-income, inner city rental market.

As parents who care for their children, it is not a simple matter of economics - it is a future for their children and many parents will work 2 and 3 jobs and take extreme risks to give their children a life worth living.

I had the opportunity, as part of a church program, to make a down payment and guarantee a loan for a single mother, working as a waitress, with 3 lovely kids living in a "rough" neighborhood. They moved into a respectable single family home, with the basics.

I had to make a couple of payments for them, but it worked miracles for the kids. No gangs, no after school beatings, no third rate schools, etc....

It was a delight watching this kids rise to their potential.

No way in hell they could have done it with a 50% down mortgage, and because I was a guarantor, they got a reasonable fixed rate loan with a 10% down payment - not a six-point broker fee and a floating rate loan at an outrageous interest rate.

We need 700,000,000 bailout to save the decisions of HUD and congress in the 1990's?
fsnorgitch@hotmail.com

Really sick of all this whining, blaming and waiting for government help, start looking for a job, 2nd job, 3rd job, get a smaller house, move in with your family or friends... If you do not help yourself, no one can help you. Even the government has limit and cannot help everyone all at once. It is just plain stupid just to sit and wait for hand out. I would rather the government send aides to very poor countries where they really having nothing than helping the poor in america who don't really deserve it.

I believe the repeal of the Glass-Paulson Act is at the root of this problem. The act was instituted after the Great Depression as a result of greedy individuals. We keep dancing around the real reason. It's amazing how we don't appreciate the past. It's funny Barney Frank is all in the middle of this. I believe he was part of the repeal of the Glass-Paulson Act. You just can't trust the money changers or the politicians.

We need to oust every politician that has been in office more than 12 years! I bet that would eliminate at least 2/3rds of them. Our government is corupt and we need to get NEW BLOOD and representatives who serve This United States of America instead of their own power, power and perks. Wake up and VOTE!

Get out and VOTE in NEW BLOOD!

We need to oust every politician that has been in office more than 12 years! I bet that would eliminate at least 2/3rds of them. Our government is corupt and we need to get NEW BLOOD and representatives who serve This United States of America instead of their own power, power and perks. Wake up and VOTE!

I do want to blame a lot on Wallstreet because, they of course, work in tandem with the Feds. But I place
the total blame on the Federal Reserve:

What is the Fed???s Function?:

The Fed???s most important and visible function is to control inflation without triggering a recession. In addition to that, the Fed has three other less visible functions:
Supervise the nation???s banking system to protect consumers.
Maintain the stability of the financial markets and constrain potential crises. (A good example of this is the handling of the Long Term Capital Management Crisis in 1998).
Be the Central Bank for other banks, the U.S. Government, and foreign banks.
How Does the Fed Affect the U.S. Economy?:
The Fed???s primary responsibility is to manage inflation. As the nation's central bank, the Fed loans money to the vast network of private banks. This gives it the power to regulate the economy by making the money it loans expensive (by raising interest rates) or cheap (by lowering rates).

The Feds got themselves confused and created this mess. And now they want the responsibility back.
In the end, maybe it would be better to go into a recession for a while. Things are totally out of control.
The lowering rates created a whacked out system of lending to sub prime borrowers to create that
false sense of growth., So what if we raised rates for a while?
We all survived the recession of 2000 so maybe it is time again to do your job the right way and
stop expansionary monetary policy and return to just regular monetary policy.

On another note, this whole bailout sucks for State's. There's not one safety provision mentioned ensuring
that State budgets don't get punished from all of this. So who cares if rates stay low if State's will be forced
to lay off their police and fire department personnel.

They had their chance to do their jobs, and they dropped the ball. And now Congress has to
put that job back in their hands? What's wrong with this picture?

Observe it... learn from it...... and think about who you vote in for office!
http://www.youtube.com/watch?v=H5tZc8oH--o
This is just another failed result of the liberal social engineering agenda, all done in the name of the " I feel sorry for their lazy asses" part of society so let's "manage" the private sector, free financial markets . Oh and
let us not forget about their " no longer can anyone be held accountable " stance because if might hurt their feelings or make them feel "bad about themselves" !

what you failed to mentiion was tha Democrats got int bed with Fannie and Freddie and demanded that 59% of the loans be given to low income low credit people and Fannie and Freddie would appprove them. In 2005 Senator McCain sponsored a bill to have Fannie and Freddie investigated . The Democratic congress did not approve it for obbious reasons, they were the cause of the problem and would have to explalin why they were involved in the shady crooked dealing.

Many are abusing it BUT the ones that are abusing the most are the rich tycoons. We the people when faced with the necessasity of paying the rent will borrow in order not be without a home. And these tycoons have also removed our safety net according to their philosophy of business without accountability. We are a community called the USA, and yet these greedy rich believe that if you are stuck, its your own problem as we witnessed with Katrina and more. We should let them know that we created a government in order to assist us in roads, bridges, commerce and assist us (we the people) at time of crisis.

lets go back to the 70's intrest rate 17% i am ready for it and 10% down cash , bring it on and credit with a real check.

Why some of these greedy tycoons used the philosophy of 500 BC wheeler and dealer ambassador called Sun Tsu in China whose boss was one of the most sadistic ever. The philosophy is to psychologically weaken your competitor thru lies and deception and then destroy them physically. The means justifies the gain and low and behold one is a winner and all behold him as brilliant. The only problem is that the affect on the entire system is of no consequence and the entire whole of the system falls and there is nothing left.

Stop blaming and start working get a second job or third pay your dedt , I do not want to go down in history as the lazy genaration !think of all the MEN WOMEN AND CHILDREN THAT GAVE THIER LIVE SO WE CAN LIVE IN THIS GREAT CONTRY.
P.S.just get of your asses and buck up and work