[artbyjody]

I am no economist - but like some of you folks, I only buy what I have cash in hand for. This "buy-out" should just be sent 9 foot under and forgotten. When the tech sector bombed - there were no bailouts. IN fact the govt taxed even more on the inflated stock values that when they tanked you were responsible for the inflated worth if you sold that stock.


Tech sector bounced back ok... thats free market..

This and that bank is devalued because of what ? Wall Street and a bunch of investors that suddenly go, "ooops", can't afford XMAS this year?.

No thank you on a government bailout - let it run its course. It is way better than having the government have it as a liability (we are already maxed out on credit with the war yes? So where exactly is XXX billion coming from - Monopoly have a overstock sale of funny money?)

Simple economics..


Banks and the mortgage industry didn't loose money on loans of 40K houses... they lost it on those 200K+ houses that they financed to squeeze those into homes and loans, that wanted a bigger house but even on paper could not afford it.

Why? Much more return on bouncing notes around of several hundred thousand... they new it was risky but heck - they got away with it until oil went above $100 a barrel and suddenly cost of goods exponentially went up. The first thing to go is the house and then the cars..


So the problem wasn't just with banks and mortgage companies - it was also with those people that literally allowed themselves to be over extended - and they knew quite well that they couldn't afford the home in most cases.

As taxpayers - it is one thing to blame the companies that grant all this credit freedom (suckerage of wallet), but why should all the taxpayers be responsible for the amiss of those tax payers that allowed themselves to get pushed into homes they knew they could not afford to begin with. The blame goes both ways... and today I am glad that bailout got axed..