Comments on: Shocker!

By: Bailout Resurrected :: FITSNews

Bailout Resurrected :: FITSNews — Sat, 04 Oct 2008 14:40:19 +0000

[...] to “flippers” like South Carolina’s own Gresham Barrett – politicians for whom doing the right thing was merely a prelude to doing the wrong [...]

By: James

James — Wed, 01 Oct 2008 16:34:18 +0000

Stroking it: Are the banks going to keep lending money to the dredges of society?

Since the failed experiment in affirmative action lending (a.k.a. Community Reinvestment Act) is still on the books this solves nothing! Folks are still in home that they can’t afford. The only shock I have is that the default rate on subprime mortgages is only 40%.

At least the money man at the car dealership can repo the ride to recoup some of the bad debt – how does “the man” recoup the bad debt in this case? There’s no way Barack, Barney, and Franklin (thank God Paulson only has 4 more months at Treasury) are going to repo a home from their “community”.

Does this boondoggle qualify as reparations?

By: Stroker Ace

Stroker Ace — Tue, 30 Sep 2008 20:20:28 +0000

If any of you understoof how credit markets worked you would realize that this is needed. This is not about bailing out failed corporations. It’s about allowing banks to lend money to each of us and each other.

By: nope

nope — Tue, 30 Sep 2008 10:02:29 +0000

Why does anyone think it took “guts” to oppose a bill that 70 percent of Americans hate?

By: roofus

roofus — Tue, 30 Sep 2008 02:03:49 +0000

What we need now is an independent prosecutor to investigate this “Greatest Financial Scandal of All-Times…”

By: Randy

Randy — Tue, 30 Sep 2008 00:14:33 +0000

Gresham just got my vote. Goodbye Henry, Andre and the rest.

A republican with guts…wow.

By: forced to contribute

forced to contribute — Mon, 29 Sep 2008 23:51:11 +0000

I will never vote for any Republican or democrat who votes for this 700 Billion dollar bailout. I am NOT willing to pay taxes for the things that all the Washington fools did to this economy. I speak for MANY in my family and have heard the same from friends and co-workers. LET THE BIG WIGS FIX THEIR OWN MESSES.Some or even several people and stocks may hurt for a while, but it will eventually self-correct and I won’t be paying for it.

By: AdeT

AdeT — Mon, 29 Sep 2008 20:53:30 +0000

The most sensible solution I have seen yet is the one offered by John Allison, CEO of BB&T. After pointing out that this was a “Wall Street problem, not a Main Street problem,” and that the staggering majority of main street banks are not at risk, he suggested the following (paraphrased):

Have the government buy up all the houses in foreclosure, the abandoned homes, the unsold speculative homes and the homes under construction. Then either inventory them and sell them off a little at a time, or take them off the market permanently by knocking them down. It would cost dramatically less than the proposed bailout, would immediately improve the housing market, firming up mortgage lenders’ balance sheets, and would keep government intervention to a bare minimum.

I’d love to see Gresham take that up….

By: Alexander Hamilton

Alexander Hamilton — Mon, 29 Sep 2008 20:39:59 +0000

I have emptied my checking account, loaded my gun and stocked up. In order to create the urgency needed for a socialist bail out, the fed will close the banks within 10 days. Mark my words, or DUEL!

By: Don Johnson

Don Johnson — Mon, 29 Sep 2008 20:13:11 +0000

OMG, spines do exist in Washington. Huzzah! Huzzah! Jefferson would be proud.

Now, let’s go back to the drawing board and draw up the quasi-Socialistic bailout plan we need to actually get markets moving again, not the completely socialist plan that Wall Street wrote.