Bankrupt Economics

No MONEY No retierment,wellfare,social security,ssi,and we dont have enough APPLES

Somwhere, shrouded deep in the misty mists of time, the Sheriff of Nottingham is laughing his ass off ...

here we are getting angry at banks and people who spend money they dont have by gambleing and what does washington do,!!!!! take a guest. they are gambleing with our retierment money that we have to give up to pay for mess latter down the line.

how abut that we just became BIGGER than all that banks and we would probaly wind up in the same boat,I wonder which county will take over.(well we still have to give china thier money....500billion, if we have it.

America has spoken and washington is not listening,and we are the only losers.

Right now, the situation looks bleak

The unemployed have to fight each other for jobs that are growing more scarce (I'm in this group, thank god I don???t have a mortgage or a home). Company???s are growing more reluctant to hire employees. Many employed are worried about being laid off.

If the unemployed get a job, (like I might), there is little chance that they will buy a house; they will be afraid of getting laid off. (this mind set will continue the unraveling of the US economy, specifically real estate???right?).

Why won't people buy houses? Because they are afraid of losing there job and ending up like the person a few houses down that is in extremely bad financial shape.

The US economy is in a big un-fun game of musical chairs, and everyone is trying to get into the last few seats and not be the ones caught outside the game, loosing their job, their home and their security.

I hope we have some leaders in this nation that can solve this problem. Some how, this needs to be fixed. I hope for some positive news in the next few months.

what would happen if washington was to take that 700billion and give this country the national heath care that this cuntry needsd ,here is what happens..employers' small buisess,mediacare,ssi,wellfare and us don't have pay,then uncle sam would be gaining more from taxses,Because of the higher the income on everybody. EVEN STEVEN.Don't forget the insurance companys.... OK lets forget them

Re: America Wake-up :We are facing truck load of financial, hurricane and war related problems and still have borrowed money to help Georgia amounting to one Billion borrowed money from China. Entire world is laughing at us. Infra structure is deteriorating by minute, getting closer to third World, our national debts exceed that of Mexico, India and Somalia!!

AMERICA WAKE-UP..America is going to be given to the world banks,We are going to be the worlds welfare country.Weather its wall street or the credit markets we will be givining our freedom away to the banks of countrys that we are borrowing from like chinas 500 billions to pay for our generosity,then who will be on welfare,we will not have free markets anymore.

A Proposal to Resolve the Fannie Mae and Freddie Mac Financial Fiasco

In order to solve what has been termed the financial crisis, it is necessary to identify the cause of Fannie Mae???s and Freddie Mac???s catastrophic failure.

The cause of their downfall is the partisan democrat pressure put on those companies to grant sub prime mortgages to persons who would be unable to repay those loans.

The democrat senators and representatives, who mandated that financial background checks be considered unnecessary and unwarranted, facilitated that irresponsible granting of mortgages to those unable to repay. The motive of the democrat members of Congress was strictly and blatantly partisan - to buy votes, and to maintain years of party support.

In 2005, John McCain co-authored a bill to investigate and regulate the faulty business practices of Fannie Mae and Freddie Mac, but that was opposed and defeated by the democrats in Congress.

On many occasions, President George W. Bush introduced proposals to regulate the mortgage lending companies, but those calls for regulation were opposed, obstructed, and defeated by democrats who were obsessed with the continuance of faulty lending practices.

In order to reform the financial sector, it is necessary that the sleazy politicians and top administration of those 2 mortgage companies who perpetrated fraudulent activity be publicly identified, investigated, and severely punished for their undermining the national economy.

It is only reasonable to expose the corrupt financial practices and their facilitators, and to remove them from any further activity, before any effort can be made to resurrect the American economy.
Otherwise, any attempt to do so will be useless, because the problems and perpetrators would still be present to frustrate and obstruct any meaningful remedial action.

Continued - A Proposal to Resolve the Fannie Mae and Freddie Mac Financial Fiasco

The first step toward economic recovery would be to isolate all sub prime mortgages from the assets of Fanny Mae and Freddie Mac, and to group the remaining viable ones into several stock options to be offered for sale to the public, and also as a bailout measure.

That would result in an immediate infusion of cash into the banking sector, thereby ensuring that credit could be granted to qualifying loan applicants.

Individuals or organizations who choose to buy those stock options should benefit additionally from any profits later realized by their investments.

Also, any profits resulting from the bailout option should be refunded to the INCOME TAX PAYERS only, since they would be the ones who would have financed the bailout.

Likewise, but separately, the various questionable sub prime mortgages should be bundled together into other stock options which would be structured to contain a mixture of both somewhat and less redeemable loans.

Those sub prime mortgage packages should be offered first to democrats, especially wealthy ones, who might be attracted to them by their being valued at a price of 80 cents on the dollar, based on the face value of the mortgages.
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That would afford them the option to support what democrats viewed to be a noble cause (home ownership for the unemployed), and besides, it might enable the stock option buyers to profit by 20 percent if all of the sub prime mortgages would be somehow repaid by the homeowners.

Thus democrats, especially the likes of George Soros, Barack Obama, Ted Kennedy, Chris Dodd, Nancy Pelosi, Harry Reid, and Charlie Schumer (who supported the granting of sub prime mortgages irrespective of demonstrated ability to repay) would be able to ???put their money where their mouths are???!

Lastly, there should be a guarantee that no further sub prime mortgages be granted.
Home ownership is a GOAL for many financially responsible Americans - it is not a government sponsored RIGHT for all persons living legally and illegally in the US!

No bail-out of Wall Street bankers, greedy, incompetent fat cats who have created this crisis themselves and who are now being allowed to pick the pockets of American voters to fix it.
What do these fat cat get for the damages they have created? No Golden Parachutes / losing some of their exit strategy money? Hardly, they are making millions more in compensation packages.
This financial situation did not happen by itself. Bring criminal and civil charges to these bankers and financiers. Make the responsible people pay first, then Americans will feel there is justice.

This is a bail-out of Wall Street bankers, greedy, incompetent fat cats who have created this crisis themselves and who are now being allowed to pick the pockets of American voters to fix it.
What do these fat cat get for the damages they have created? No Golden Parachutes / losing some of their exit strategy money? Hardly, they are making millions more in compensation packages.
This financial situation did not happen by itself. Bring criminal and civil charges to these bankers and financiers. Make the responsible people pay first, then Americans will feel there is justice.