The "Economy"

[About2Bite]

What's your guys take on the whole situation?

I don't know, but I sure don't think this bailout is going to do much good other than delaying what we are in for.

Stock market down another 350 points today

[Mr. Austin]

Honestly our classes have been keeping up on it.. were going to take a dump.

[BurnTire]

The bailout is B.S.

The financially responsible citizens are going to pay for others mistakes.

It is total B.S.

I say let all troubled companies go under and let the system correct it self.

This is a band-aid being pushed by Moron Bush.

[Jacostang]

call your congressman and senators even thouhg they dont ansewr and tell the its a bunch of crap! Let it do what its going to do and keep the government out of it.. Socialism here we come and its only the start.

Taxpayers revolt!!!!!!!!!!!!

[Mr. Austin]

+1!!

[About2Bite]

I agree, and it seems as though the majority of people agree as well. These banks saw an opportunity to give out money to people who could not afford it in hope of making some money off them.

I just don't want to be the one paying for these peoples mistakes.

So did they pass this bailout plan? If so how much did we end up giving these companies?

[mntony]

What about personal responsibility??? Everyone talks about the banks (yes they are half the problem) but nobody talks about the people that borrowed that money, walked away from the home and payments scott free! I personally know what I can afford and what I can't. Otherwise I'd have a really bitchin car and I just wouldn't pay off the credit cards! The borrowers are just as much at fault. And anyone that can't understand what an adjustable rate mortgage is and how they work shouldn't be mortgaging a home to begin with! Bring back debtors prison!!! <---that part is sarcasm

[About2Bite]

What about personal responsibility??? Everyone talks about the banks (yes they are half the problem) but nobody talks about the people that borrowed that money, walked away from the home and payments scott free! I personally know what I can afford and what I can't. Otherwise I'd have a really bitchin car and I just wouldn't pay off the credit cards! The borrowers are just as much at fault. And anyone that can't understand what an adjustable rate mortgage is and how they work shouldn't be mortgaging a home to begin with! Bring back debtors prison!!! <---that part is sarcasm

As much as personal responsibility plays a role in it, if the banks would not have given these loans to people who were not deserving of them this would not have happened.... Well probably wouldn't have. Most people, if given the opportunity to, would invest in a home. Why? Because most look at them as their future. Now, I agree they should have looked into what a NINA loan was and though about what could potentially happen by agreeing to a interest only loan, but the banks imo were the greedy ones here. How smart is it to give $200,000+ to someone with a 650 credit score? Not to mention with nothing down, a 100% loan. Come on now, I wouldn't even loan 50 bucks to some of the people who I know would have been approved for a home (And some of whom did and are in the situation that put us here). These banks figured they could make some money off of these people and did, until it came back to bite them in the ass.

I don't think this bail out is helping these people who currrently can't afford their homes is it? No, it's helping these banks who have all these houses nobody can afford. Now that they have seen the consequences of this try and get a loan? Doubt now it'll be too easy if you have a 650 credit score.

Now we have to pay for their mistakes, wonderful.... Where the hell are we going to get 700,000,000,000 dollars from? And we wonder why the dollar isn't worth anthing anymore.

I also doubt this is going to do anything but buy us some time

[BurnTire]

I agree if you are too stupid to figure out what an adjustable rate mortgage is you shouldn't have a home. If you can afford the teaser rate, but not the adjustable rate you not sign on the dotted line.

[AZ-GT]

You might want to watch this video if it is still up. "Burning Down the House"

YouTube - Burning Down the House - What Caused Our Economic Crisis