nonidiot you are the reason we are in the housing slump we are in cause morons like you enter into a leagle and binding contract you never mean to honor .it's poeple like minded such as your self that are hurting the rest of us hard working american's...

Can anyone explain to me what will happen to my house if the bank that holds the mortgage goes under?  Because I will be happy to take the house for free.  I dont think it would be possible for the house to disappear into the atmosphere like David Blaine.  Barring some strange bank power akin to magic, that won't happen.

I love the explainations we get.  Why do Republicans support government taking over business?  Why is a solution to a problem that has been going on for at least two years suddenly urgent?  Who will lose their job when the next bank goes down? (I know a few people who have been laid off in the last few years, but none in the last few weeks.)  None of it seems urgent to life in Ohio.  I would bet that outside of the NY metro area, it isn't making a big difference anywhere.  I personally am glad that bankers are losing their jobs.  To sucker a poor person into taking a house mortgage they don't understand or can't afford, is wrong.  Let them go broke.  Who cares?  I guess G.W. does.      

Really no one in the press is giving straight answers but here is my take:  Buying bad debt doesn't really mean we will gain in the long run.  If the government buys 700 billion of mortgage debt from banks, but can only get 300 billion in forclosure sales, then WE lose 400 billion.  Is that what the bailout means?    

where is this 700 billion going to come from? more taxes on us? will that not hurt mainstreet anyway? Or if it is going to come from skimping on other programs like medicaid or education or fixing the nation's bridges, wouldn't that hurt people anyway? who are we trying to "save" while killing the others in the process? I see no transparency of explanation from anybody. So I say NO to the bail out.

nebenjnim nothing will happen to your hosue as long as you continue to make payments. The note will be sold transfered to another lender.

The bailout is just wrong. WaMu collapsed the only people that lost money were the stackholders who should have know for a long time it was going to collapse, They will default on there depts. there assets will be sold off to pay off some of there debt (Bonds). The world will not come to an end. They own worthless mortgaga backed securities.

Bail out is just wrong!!!  There is a lot better ways to help the economy take over individual homeowners mortgages and reissue notes at 7% for 30 years. this will help the people who really need it. But this wont happen.

Clearly, we failed to learn from history. Unregulated capitalism causes cycles of boom and bust. A number of Regulatory elements were removed in 1999. Allowing for insuance, brokerage houses, bank, etc to offer all services. Local banks were bought up in mass. The control of the local bank offeing mortgages to local communites and living off the revenue and having an investment in those communities disappeared. Lenders made most of their monies on upfront fees and quickly dumped the notes. Since the lenders had no investiment in the communites they made bad loans to people who couldn't afford. Wall street were allowed to bundle and sell worthless mortgage as AAA notes. This is essentially fraud on there part under any laws.

We will need to reinstate the old rules and  let the speculators go bust. the market will solve the problem. Prices will fall people will buy houses again

No Bail Out needed.

SEE NEWT GINGRICH ON WWW.YOUTUBE.COM

TYPE IN GINGRICH BAILOUT

HE IS TOTALLY AGAINST IT.

THIS RICH WALL ST CREEPS WOULD NOT GIVE

YOU 2 CENTS IF YOU WERE STARVING TO DEATH

YET THEY WANT US TO SUPPORT THEM AND THEIR

LAVISH LIFESTYLES.

SCREW THEM!

I am with Tom P. take the 700 billion dollars and invest in the American public. They are the ones footing the bill anyways. Refinance our mortgages and credit card debt. That in return will free up money to the financials, from paid back debt. Then they could finance their Real Estate Owned and get the foreclosures of their books. If the government buys up these foreclosures, they still have to pay the Real Estates taxes, property ins and maintenance that goes with the foreclosures.

Which means they will be back at the table asking for even more money they do not really have. Causing even more inflation, i.e. the dollar losing even more value.

Or are they going to sucker the buyers of REOs and leave them holding the bag. For the non payment of the back taxes. Or are the certificate and deed holders going to snatch them from the buyers after they have purchased the REOs. And who is going to finance the new debt the foreigners? Why would they want to buy debt instruments that will be worth even less in value after they get paid back? I think the government is worried that they are going to have to cover all their loan guarantees, FDIC, SIPC, FHA, VA, student loans and all the other government guaranteed loans. And it would amount to trillions, instead of billions. Top that off the bond rating companies would have to bite the bullet and lower Uncle Sam's bond ratings as they should have done already. And what happens to Real Estate property taxes, when they get reassessed at the lower values that have hit the real estate market? The local goverments are going to have to take a 36% loss in revenues to reflect the lower property values. Wall St and the financials created this mess let them wallow in it. They catered to their greed and that of the stock holders. Let them eat their losses instead of us having to eat it. They are criminals and should be put in jail along with the energy companies. Between both of them they are bleeding us dry, just for greed and their fancy lifestyles at are expense. Plus they used our money to do it with. I thought the goverment was for the people by the people. Instead our government caters to the money people and big corporations. It would not be because they keep taking their dirty money to get elected or re-elected would it? And have to pay them back, by allowing them to fleece the American people and foreign investors. All I can say is the ####! with hit the fan and we will all be covered in it.

Two quick points, one, How will you react when your retirement plan goes down another 50%. Two, Since most people don't have a pension anymore plan on putting off retirement for another 10 to 15 years. If your kids are going to college start trying to figure out how you are going to pay cash.

I agree...this "bail out" is just a way to reward the crooks and theives who have had their hands in hardworking America's pocket all along. Remember when Alan Greespan was touting Adjustable Rate Mortgages and encouraging everyone to borrow...now their calling in those inflated mortgages, forclosing on these yahoos who borrowed money with those "no Look" loans...

we need to take time to sort this thing out and make laws and rules that will punish these theives...not one CEO should be rewarded...they should go to jail...and why should we listen to a President who is about to become a lame duck...?

Why is he in such a panic....he's inciting panic in the World..

Remember the story about "The Sky is Falling...."

We need to put duct tape on his mouth now....this situation deserves the attention and decision making of our world's most creative, intelligent, financial, economical leaders....not GW

Debra,

GW is in a hurry because he is staring into the abyss. He is about to be remembered as the president who helped cause the second great depression and the ruination of America. Laisse Faire (Unregulated) capitalism and low taxes on rich people (also known as Reagonomics) have caused the system to become top heavy just like in the roaring 20s (the rich get rich and the poor get children ain't we got fun) Without some kind of government intervention or bailout we will all be selling apples or pencils or working for the WPO just like the 30's. We may be anyway, but if the bailout is structured correctly and we are lucky, we may be able to dodge the worst of this and elect some leaders who will strengthen the middle class financials and reduce the imbalance of this economy.