5 Responses

1. robert westhoff

   February 12th, 2008 at 6:30 pm

   1

   Banks should not get off the hook. Hell no. They are already ripping consumers off with credit card interest like 30%. Speculators should not be assisted either. It was a calculated risk and they lost. Wall street loved these loans. So live with it.

2. c bishop

   February 12th, 2008 at 7:04 pm

   2

   I have been recently taken by a bank. I have good credit. So reply is the same as others. Banks should not get off the hook. I think they should get their hands spanked hard for taking and using people!

   It is just very hard to trust people any more.

3. Bill

   February 13th, 2008 at 11:04 pm

   3

   What part of “High Risk Loans” is not understood!
   That is what these loan were called and had a higher rate than prime.
   They knew the rules, and they lost.
   Now they are raising interest rate on card holders for no other reason than they need to raise more income!
   Shame on the government for allowing to happen!
   Pretty clear who the government really works for!

4. Vince

   February 14th, 2008 at 3:14 pm

   4

   Big chunk of the economy is in the hands of the real estates transactions.
   The skeptical way the lenders are performing is practically holding the purchasing and refinancing of mortgage loans.
   Millions of Americans depend on these transactions on daily basis.
   Take a regular purchase for example:
   The locksmith guy change the locks
   The movers get busy for the seller and for the buyer
   Home Depot or Lewis Home Improvement get busy
   The Attorney on both sides get busy along with their staff.
   Title Companies, Termite Inspectors, Appraisals, Carpenters, Electritians, Landscapers, newspaper delivery services, Security Systems, Etc. Etc.
   They’re so many people getting the benefit.
   For the Goverment willing to take the heat, it’s not provably the best way, but do we have any other that inyect the industry right away and give the millions of people about to lose their bigest investment a brake?

5. jamie

   February 19th, 2008 at 6:47 pm

   5

   What ever happened to “don’t bite off more than you can chew” and people being responsible for their own actions. The PROBLEM with the economy is that parents and educators don’t teach money management and responsibility. I don’t think bailing out the largest percentage of the economy, those who hardly work and don’t pay their debts back and bankrupt is the answer. Why don’t we reward the hard workers and the ones who can manage their money and time wisely, and pay their bills like responsible people. They are the ones that deserve the breaks, not the ones who charge up the bills and then cry and run and file bankruptcy.