A Special prosecutor position would be a good way to vett candidates to the Supreme court.

began in 1946. But you have to connect the dots from then to 1971. Another gift from Nixon in addition to the war on drugs.

But that was then, this is now. And what few people seem to understand is that the housing market can NOT be propped up to artificial market prices. There is no right to own a home. Yes, it’s nice if you can afford one—I’ve had four in a long life. All modest in cost and affordable.

By the same token, times have changed—and I can appreciate that those unfortunates who lost jobs or had major medical expenses fell on hard times. Those who rail against ‘greedy investors’—and there were some—but a small percentage of all who fell for the American Dream.

I think more jail would mean less white collar crime, that unlike street criminals, white collar criminals are more likely to think rationally in weighing risk versus reward.

First let’s go back to the beginning starting at bubble, although I’d rather refer it to a balloon. In the year 2000 just after post doomsday Y2K the balloon was just placed on stem of the tank of air. During that year a house, let’s say in Holiday Florida would average at $50-60k. During that same year there were many types of easy loans such as HUD and Veteran (it wasn’t necessary to actually be a Vet, one just got a little better rate if you were) which made it very easy for the average individual with $500 and job to obtain approval. Section 8 had a role in this also. If they had 20% of the price of the home they didn’t even need a job. Actually they did, but what was referred to as a “no doc” all they had to do is just say they had an income.
  Now here is where the air valve just barley inflates the balloon. Keep in mind that Holiday Florida is just a reference point and places like California and Miami holds the same principle just different prices. These loans usually carried an ARM which meant 5 years down the road Fannie Mae & Freddie Mac would be tacking on another 2.5-3% interest. These easy loans that owners had to put their signatures on, selling their souls sort of speak, compounded by falling prices.
  Before they got to that point there was a “get rich quick” craze going on and everybody and his brother became an overnight realtor by “flip that house.” or two or three or four, renting them or just fixing them up, and profiting by the fast rising house prices caused by the craze. 
  We can argue who is to blame, apparently both the home buyer and the lender is at fault. The lender acted recklessly and lent and lent and competed to lend. Mortgage and title companies were popping up all over leading the owners like sheep before the slaughter.
  The balance of fault lies on the degree of greed. Could you blame the average Joe that wanted to get rich quick or the banks who should have had more sense?
  Now we know how we got there lets propose how to get out. Giving 700 million to the same banks who got us here, paid for by the average Joe’s taxes and not only that but, Joe must barrow the money with interest just to give it to the ones who lent Joe the money for the house that he is now foreclosed on. That’s like Joe borrowing money to give to heroin dealers in order to make sure they have a steady supply of heroin that they could sell him.
  We have another option but of course it will not be considered because the government thinks it is in their best interest to help the banks thinking it will save Wall Street. We have to let the air out of the balloon by getting the prices of homes closer to the year 2000. The way we can do that is instead of giving the money directly to the banks; give it to the notes that are over priced. Let’s start with Joe’s house and his only house for now. If he paid let’s say $200,000 and he is in foreclosure, reset the value to the year 2003. That means rewriting the note. The year used adjusting the house value would be determined on until the 700 billion is allocated to first every homeowner that will occupy that house(700 billion will just an arbitrary number for now or just a limit).  This will in no doubt cause values to come down all over. This plan could be implemented to the relevance of importance. The homeless first then to the struggling families aiming at the outrageously over priced homes, this will hurt the rich and humble undeserving. There are Joe’s out there that flipped houses until he bestowed on half a million dollar house with an income that can’t support it. He should eventually be included in this bill.
  It all comes down to the basics, supply & demand. Now the supply is high. By slashing prices will create gamut of demand. New loans, transparency and credit will flow like neighborhoods at a block-party. This is the way to bailout Main Street & Wall Street.

When there are a lack of profitable investment opportunities in productive areas of the economy (such as manufacturing), capitalists turn to financial schemes.

While a special prosecuter would be a nice grandstanding effort, it ultimatly will mean nothing.
Why, you say?
Because what these wall street sleezbags did was capitalism at it’s slimey, base essence.
Of course what they did was unethical, but you cannot even say that because there never has been, nor will there ever be, ethics in our financial markets. It is essential that they don’t posses ethics, because this is capitalism. It’s about making as much money as you can. Plain and simple, whoever dies with the most toys, wins!
(I just glanced up at the TV and realized that I would really like to do Dana Perino)

On a less sexist note, What we are witnessing right now may be the downfall of the ownership society that has been the centerpiece of the neocon revolution for nearly 30 years. Private citizens followed the lead of corp america and attempted to borrow their way into the upper middle class. Little did they know, the joke was on them. For the more you borrow, the more you need to borrow. And now private citizens must just keep laughing, as corporate debt will be subsidized by their taxes, while their debt, well, your on your own, kid!
(aw, Dana’s off the TV now)
Don’t feel so bad folks! There is some good news in the middle of this mess. Maybe, a few years down the road, when all this comes to fruition, and the shit truly hits the fan, there may not be anybody left to evict you from your house!
But then again, you’ll probably have to don a mowhawk, put on some leather chaps, grab a chainsaw, and gut your neihbor to steal a can of pork and beans and some rancid cheese out of a rat trap he has hidden in his basement.

Selah!

How do you save both Main street and Wall street- by helping mainstreet pay their bills to their Creditors.
KISS0 Keep it Simple Stupid
Cut checks to American Taxpayers for about $10,000 Each (Roughly what we’ll be paying in taxes for this bailout) .WE Will pay our creditors- Our house payments, car payments, utlities bills, credit card bills AND We’ll actutally buy something which will help other industries - ya know like a Big screen TV, A New Car, a Computer…
Trickle down has been Determined by th eLongitudinal study being conducted sinc eth e’80’s to be an utter FAILURE as an Economic stratedgy.
Our Country was Built from th eBottom UP- NOT The Other Way around.We built the Big 3 , they did not build US, We built the Middle Class,By Unionizing and demanding Workers Rights an dcompensation through strikes and Walkouts! WE are th eones who made the Big 3 International corps- through our & our ancestors Blood Sweat and Tears.
Henry Ford would have been left in his Garage with his dick in his hand if he could find No one to work the Assembly Line!
EVERY SOB who has had a hand in this 30 yr highjacking of the American Economy should be Facing TREASON Charges, Esp Sen. ‘got off scott free’ Keating 5 accomplice. Want to know how Our economy got here..folow John McCain’s Senate Career- follow the money Baby- or Just look over his shoulder, Phil Gramm is evidence enough of Conspiracy to commit Fraud and Economic Treason!

Hello? There are no criminals because deregulation (laws) insured there were no crimes. And no one is talking about the neccessity of regulation to prevent this from continuing to happen. So how can anyone justify handing them the key to the vault?

Any bailout or action should be after the new president is sworn in.

usury laws have been around since banking began, to PROTECT PEOPLE from high interest rates; the LAW was that anyone using them would have to PAY 5x’s the amount that the person owed. Our LAWMAKERS (congress) removed these laws; and repeatedly taken before them did NOTHING as they were in total agreement with the deliberate harmful acts against the citizens of the USA. And the illegal fees, etc, all added which were criminal & fraud which is the term of deceptive business practice that the Fed Reserve finally came out on public TV & declared; of COURSE it was. The same laundering back of money by overbilling of the Pentagon and the “lost equipment” that Congress always claimed “must be in the hands of the enemy” were based on the same technique used continuously by the developers: down payment & lost equipment never existed except on paper. So: who ya gonna call? the lawless lawmakers? who sit down & allow all this to go on? THEIR funds are tied up in gold & off shore accounts: and the dept of justice is appointed by them along with the Supreme Court judges. Like they running around the world declaring we have gotten away with it for years in the USA bribing the heads of countries to “do it their way”. They are in of this folks: WE are being targeted and described as being the “wicked” and THEY are painting themselves as being the “righteous” and taking the “wealth of the wicked” to themselves. Because it is the AMERICANS fault for everything: THEY wanted livable wages: THEY demanded this & that; and of course THEY oppressed everyone, blah blah blah. And of course being the deceivers that they are: claim we the citizens of the USA tear babies from mothers arms while they hide & take refuge in churchs; this was Obama’s false picture to others: while in reality he was referring to the POLICE & Gov taking the 400 children away from the Mormons. Gosh, like THEY say: aren’t YOU glad YOU live in the USA?

WE MUST PROTEST THIS BAILOUT
THAT’S WHY THEY WANT TO PUSH IT SO FAST BEFORE IT’S TOO LATE
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This plan only helps the wealthy. I understand by giving them money the banks in return will be able to keep those loans. How about the other way around? Give the people the money to pay these loans and homes? Or, chop i.e. the price of a $450,000 house to its original value before the bubble to somewhere about $200,000 only if it is his or hers sole residence and only if the income can suffice that loan. We need to address the root of this and that is housing. This problem was created by the banks and the Feds on interest and the whole loaning industry. I realize it will be like ripping off a band aide fast and the wound will still bleed, Wall Street will take a dive, big banks and their executives would skater, but these are the ones this bailout is intended. No matter if we do this proposed bailout or we don’t someone will suffer. So lets bailout the people not the banks. Cut the home prices, let the people move in and this will cause a massive decline in home prices many people who depend on their equity to get them through, and will cause millions refuting second mortgaging and the business that need loans to start or continue production. Each and every one of these loans through transparently and scrutiny, allow to be funded with this bailout money.
“We have to jump start the economy” “We need to give (bailout) the financial institutions so we can have business as usual” “You need to pass this 700 billion dollar plan and pass it now” lets OK a plan but not the one you propose Mr. Paulson, the one we propose “let them eat cake” free the oppressed from this crisis caused by greedy investors. If you want to displace taxpayers’ money, money that they don’t even have, Its money that you intend to barrow from foreign countries with interest Mr. Paulson, then displace it from the bottom up.
All the rest of houses left that were foreclosed that were owned by investors will take a hit also. The idea here is to take an organic approach not a synthetic one