03USMC has it pretty well in a nutshell. To ignore the problem, will cripple everyone good and bad alike. To throw money at it will help whilst doing nothing to discourage this from happening again. Sooo, those deemed as most responsible for this must be punished or else they will be out there doing it again on the rising market.

It would take a lot of time and money to do this, but nowhere near as much as the country stands to lose if they let those responsible get away with it.

Whatever happens, it's going to be painful, the only sensible option is to minimise the pain for the greatest number of people. Saying it wasn't my fault "why should I help" is not really an option. It's a bit like saying I don't drive, why should my taxes be spent on highways.

I don't like it, but I feel that at this point there is no choice.

Therefore it must be done.

To throw money at it will help whilst doing nothing to discourage this from happening again. Sooo, those deemed as most responsible for this must be punished or else they will be out there doing it again on the rising market.



you really think that the economy will servive this?

At some point, yes.

As for punishment... I guess that will never happen.
Funny because this is a lot more serious than that Enron thing.

whats this Enron thing?

Originally Posted by b_n_angel

whats this Enron thing?

It was one of the largest corporations in the world until it filed for bankruptcy in the midst of an accounting fraud.
http://en.wikipedia.org/wiki/Enron

thanks.......

Originally Posted by b_n_angel

you really think that the economy will servive this?

Do you think that the whole world is going to collapse? I seriously doubt it.

Here in Australia, it is not much more than a temporary "bump in the road".

Originally Posted by the_13th_redneck

At some point, yes.

As for punishment... I guess that will never happen.
Funny because this is a lot more serious than that Enron thing.

I think you seriously underestimate the greed of politicians and big business. It will certainly happen again., hopefully we can enact laws to make it less likely and less painful. So long as there is money to be made, there will always be people willing to gamble with the economy.

700 billion is a drop in the bucket compared to the number of bad and undersecured loans out there. Banks were making low interest mortgage loans for years to satisfy the Government's pork barrel projects that would put any and everyone in a home, even if they couldn't afford it. When the interest coming back to them was lower than prime, they found themselves with insufficient funds to pay stockholders and the Feds. Walk aways started growing, they had reposessed homes but couldn't resell them in a bloated building boom. Banks don't need homes, they need the principle and interest income from them. I'm against it.

Do you think that the whole world is going to collapse? I seriously doubt it

maby the world wont collapse, but to this event there will be consequences that would effect the world... at least it is my opinion