PAULSON SHOULD QUIT NOW. HE DON'T WORK FOR THE PEOPLE. HE'S A BANKER AND HE WORK FOR THE BANK THATS WHY HE ABANDONED THE MAIN STREET AND SUPPORT THE WALL STREET. SHAME ON YOU PAULSON. GO TO HELL

So just a few points, anyone who is still defending the Bush administration is completely delusional.  This administration has done absolutely nothing for this country.  Actually, I take that back, this administration has done plenty, including:  getting America into a war under false pretenses (weapons of mass destruction ring a bell), increasing the federal debt to record highs, ruining America's reputation abroad, contributing to America's failing public education system (no child left behind ring a bell), appointing unqualified people to top posts (Mike Brown/Alberto Gonzales ring a bell), and committing treason (Valerie Plame ring a bell)....and this was all during the first administration...unbelievable!  We can only blame the stupid people (because they don't know any better) and the rich/greedy people (because they are financial "better off" under a republican administration) for the mess that we are in.

It was the deregulations initiated by the Bush adminstration and passed by Congress which open the flood gates for lending instituitions to make unwise loans available to equally unwise and risky borrowers.  This was done knowingly and with fore thought for the sake of greater profits and the naive belief that those instituting these programs would allow reason to override greed.  But when you have no stake in a company that you neither founded or built,  ties or empathy for the futures and families of those it employs, any concept or concern for the community of other businesses and lives it support, when your paychecks and bonuses are solely determined by the immediate gratification of share holders profits rather than the long term accountability of corporate stability, why is anyone surprised when "me,myself, and I" becomes out national anthem and "better you than me" when the bill for it finally slaps you in the face.  

we really need a new senate & house . throw the bums out & start over with people who have a sense of reality , not more expert washington insiders that are self serving .

The economy didn't get this way overnight! But as long as the "ins" were making money nobody did anything. Everybody sat and watched the arrogance of the oil companies as they made record profits and everyone else suffered. And congress will still give them their subsidy and their tax breaks. This is why we should impose term limits on senators and representatives. If it is good enough for the president it is good enough for congressmen. Let's face it folks. Bush doesn't have the mental capacity to run a national government.

my nest egg is gone for the 2nd time during the bush trashing of working pesants.i still have my junk stock woth pennys on the dollar.thats better than last time  thay where sold buy the mutualfund. this is what needs bailed out you cant crack down on divdends.no body gits rich on divedns thay pay simple intrest  like the bank gets form us pesants.not that many stocks pays divends . like gm doesnt pay divends.

my sister pulled hers out in feb, she ask her 401 k broker what would benifit of using the money to pay of her house and pay the 40% pinilty.the brake down is close to the same. as the tax deductions is less per year .but she will dubble her ability to save the  amount  it cost in 5 years living dept free.

The Democratic Congress is a joke.  If the American people don,t wake up it will be to late for us all.

Two guilty parties (none of which are the government).

1.  Individuals that over bought using ARMs and falsifying income to qualify for the loan.  Now can't pay.

2.  Lenders that made bad loans by allowing no doc loans to prove income and interest only loans with no principal pay down.

Relaxing lending guidelines afforded hundreds of thousands of Americans (myself included) the opportunity to buy a home with little money down.  Most of us are still making payments on time, every month, and are building wealth.   Some banks made bad choices and now need to take their lumps.  People who committed fraud by lying on their apps or falsifying customer information to get the loan approved should get jail time (at least they'll have a home).

To blame this on Pelosi, Frank, or Bush is wrong.  It's time for individual responsibilty to come back to life.

oil companys rail road i dont know all the other companys. had a sistem like 401ks befor presandent ronald ragen  put this in to action.but i dont think he had a idea that wall street would figer out how thay could leagley steal the money buy puting up all the fronts to stop the peasnts from figering what is realing going on.i know i am realy out thier on this one. but i think its the truth.

to micheal: you're exactly right, although there was a lot of predatory lending going on, the people that took out bad loans that they couldn't afford have no one else to blame. Those of us without foreclosure sings in the front yard will be the ones that pay for thier stupidity.