The question now is should we try to use the federal government to fix it. Well, as soon as someone can show me something the federal government has “fixed” I suppose I could consider that. But I certainly wouldn’t put the same people in charge of the repair as the ones that caused the problem.

(If you had a guy in charge of your school district, and he kept lying to you and slept with the help, would you — oh, never mind.)

If we absolutely have to, the “insurance” concept makes some small amount of sense. But a bailout will just prolong the problem. And if they’re going to buy that bad debt, I want them to buy my bad debt as well.

Policy made in panic mode (a la the firefighter analogy) is almost always more problematic than the problem it was intended to solve.

You ABSOLUTELY HAVE to understand the cause of the problem BEFORE you try to solve it.

I haven’t heard DeMint and Barrett say they don’t want to do anything. I have heard them say that the Paulson plan will actually hurt our economy more than it helps.

Fogle is especially dense when he claims that DeMint’s plans to cut corporate and capital gains taxes as well as suspend the misguided mark to market accounting rule is not reasonable or substantive.

I have to conclude that Fogle either doesn’t understand the Paulson plan or favors socializing the credit system of the U.S.

anyway, this whole situation is bullshit.

this is just another example of how painfully stupid americans are today. it SHOULD be common sense (for the buyer) to know that they could not afford a, lets say $35,000 loan on a $20,000 salary, because last time i checked theres a $15,000 difference.

so what exactly is the root of all evil in this case? surprisingly NOT the to-rich-for-my-own-good sleezeballs that run these corporations, but yes, it is indeed us, the consumer.

the only way for america to get back on track is for us to go through another depression (even though we are in one now), or if we went communist for awhile and when the economy got stable again, we go back to capitalism.

Never thought I’d miss Ron Paul on the campaign trail: http://tinyurl.com/66o79q

Let wall street fail. Who cares!
It’s hard workers that paid their bank loan interest rates, taxes and school loans that should receive the over valued homes.

This issue is too important for political posturing, but such is the new conservative movement.

The plan is visually expressed in the picture … although perhaps a better way of saying it is “let the bodies hit the floor.”

Capitalism can be painful at times, but it works. It’s also been through much worse than this and somehow managed to avoid the “ash heap of history.”

This is a necessary correction that is so ginormous in size and scope that not even a $700 billion bailout is really going to make that much of a difference in the carnage it will inflict on our economy.

Having said that, government intervention of this kind will not only fail to resolve the immediate problem, but will ultimately sow the seeds for bigger disasters down the road (i.e. Social Security, Medicare, etc.).

Sometimes the best decision is to recognize a hopeless situation when you see it and just take the pain … oh, and vote out Pelosi, Lindsey Graham and all the other DC sycophants going along with this scam.

Government doesn’t have the answer here, and to assume it does is why we’re in this mess in the first place.

-FITSNews

P.S. – We would also call for immediate cuts in income and cap gains taxes, an auctioning of all this surplus “wealth,” elimination of the government-mandated lending practices that created this crisis, private accounts for both Social Security and health care and most importantly a revenue (note: not spending) cap on the federal budget each year.