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Great piece on taxpayer-paid bailout. The one thing most people miss is that the individuals getting forecloused on are not poverty stricken. They still have jobs, new cars(leased) credit cards and such. This is not the end of the world. Let them move to a smaller residence like a 1600 sq foot home to keep the rain off their heads. These big spenders with other peoples money must think they are so very special that someone must bail them out. Moving to a less expensive place is not a real problem--except in their heads. The banks and brokers who made all the fees and bonuses should hold the bag on this "crises". Unfortunatly the unwary who bought the bundled mortgage backed securities will be eating the red ink on this one. Let the market that created this bubble take the pounding and keep the tax payer out of it. It does not seem the careful individual who avoids financial trouble is rewarded---their now being dragged into it by polititions looking for votes.. The credit card lobby OWNS the Washington crowd so we pay Organized Crime usuary rates of over 30% and more on simple credit cards. US is one big Company store. Work to pay of debits created by banks and their stooges.
Comment: #1
Posted by: John Gorman
Thu Mar 6, 2008 11:25 AM
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