Yeah I do understand that but the truth is that the world IS full of retards and if the banks or whatever offer these deals to the public it will attract people like flies to a lump of sh*t.
The point is, now we ALL suffer.

There is way more to it than mortgages though because the process of banks lending to banks is in jeopardy and if that stops then people stop getting paid, rents on office blocks don't get paid, gas, power and oil stops flowing.

The reality is that whether we like it or not we can not afford to let these institutions go under.

they won't go under. it is just going to be very painful for a while.

Originally Posted by MontyB

There is way more to it than mortgages though because the process of banks lending to banks is in jeopardy and if that stops then people stop getting paid, rents on office blocks don't get paid, gas, power and oil stops flowing.

The reality is that whether we like it or not we can not afford to let these institutions go under.

Precisely. And as this is based upon confidence, the longer the authorities delay, the greater the damage; and there is always a tipping point. This should all have been tied up long before now to reassure the market.

let the banks fall. Let people lose their homes.

Maybe next time the banks will ensure the loans aren't going to fall through.

Make you a deal before you decide whether your views are a good idea or not go and find out what else the failure of these companies will affect.

I promise you it is more than just mortgages.

I do agree. It does not stop there. They made that mistake last time and lumbered themselves with the great depression.

Politicians need to put party politics to one side and take the necessary action. They are not punishing the banks by hesitating, they are punishing the man in the street most of all.

Time enough for blame and punishment when the dealing is done.

This is a complex problem, I am pissed but we all saw this coming for a long time. If we give in to the banks and speculators they will just keep on business as usual. We have to break this cycle, credit should be earned not given.

I work with a woman who like me does every thing correctly we both pay our bills on time, save for what we want do not use credit unless it's an emergency. We work with others who have debt up to their eye balls. They have larger house then they can need or can afford. Our houses are modest and a bit small for our families but well kept up.

Folks who live beyond their means will end up keeping the big house and all the luxuries they have bought on credit and have the tax payers pick up the tab. It is a sin that these people will get away with it.

This bail out is not going to do anything but continue the business cycle until the next bail out.

My co-worker and I were discussing just not paying our Mortgages and getting bailed out.

apparently there is a senate vote on it tomorrow

Originally Posted by Topmaul

This is a complex problem, I am pissed but we all saw this coming for a long time. If we give in to the banks and speculators they will just keep on business as usual. We have to break this cycle, credit should be earned not given.

I work with a woman who like me does every thing correctly we both pay our bills on time, save for what we want do not use credit unless it's an emergency. We work with others who have debt up to their eye balls. They have larger house then they can need or can afford. Our houses are modest and a bit small for our families but well kept up.

Folks who live beyond their means will end up keeping the big house and all the luxuries they have bought on credit and have the tax payers pick up the tab. It is a sin that these people will get away with it.

This bail out is not going to do anything but continue the business cycle until the next bail out.

My co-worker and I were discussing just not paying our Mortgages and getting bailed out.

While the sentiment may be accurate and well founded your "screw em" approach is somewhat akin to not launching the life boats on the Titanic because the bastard that hit the iceberg might get away.