Comments on: Bailout Package Essential for US and World Economic Health http://www.creditinfocenter.com/wordpress/2008/09/30/bailout-package-essential-for-us-and-world-economic-health/ For the Up To Date News Fri, 20 Nov 2009 15:08:53 -0700 http://wordpress.org/?v=abc hourly 1 By: Chris http://www.creditinfocenter.com/wordpress/2008/09/30/bailout-package-essential-for-us-and-world-economic-health/comment-page-1/#comment-870 Chris Thu, 09 Oct 2008 20:49:15 +0000 http://www.creditinfocenter.com/wordpress/2008/09/30/bailout-package-essential-for-us-and-world-economic-health/#comment-870 You can not blame Wall Street alone. People taking loans that they can't afford without any plans for rainy days. Fannie Mae and Freddie Mac is resonsible for allowing loans to be given to people who were a high risk. Then they took these risky mortgages and bundle them up in Mortgage-Backed-Securities and sold them off without having to explain the risks involved to the buyer. The SEC deregulated to the point that they let this kind of thing going on without interference. With oil and grain skyrocketing, no wonder people are straining to make their payments. You can not blame Wall Street alone.

People taking loans that they can’t afford without any plans for rainy days.

Fannie Mae and Freddie Mac is resonsible for allowing loans to be given to people who were a high risk. Then they took these risky mortgages and bundle them up in Mortgage-Backed-Securities and sold them off without having to explain the risks involved to the buyer.

The SEC deregulated to the point that they let this kind of thing going on without interference.

With oil and grain skyrocketing, no wonder people are straining to make their payments.

]]> By: Jean http://www.creditinfocenter.com/wordpress/2008/09/30/bailout-package-essential-for-us-and-world-economic-health/comment-page-1/#comment-840 Jean Fri, 03 Oct 2008 10:58:02 +0000 http://www.creditinfocenter.com/wordpress/2008/09/30/bailout-package-essential-for-us-and-world-economic-health/#comment-840 who is going to bail me out. I had to file chapter 13 just to keep my home. this is not right. Bankers can reap all the benefits andmess up the economy and then get a bailout. there is something terribly wrong with this. who is going to bail me out. I had to file chapter 13 just to keep my home. this is not right. Bankers can reap all the benefits andmess up the economy and then get a bailout. there is something terribly wrong with this.

]]> By: Dan http://www.creditinfocenter.com/wordpress/2008/09/30/bailout-package-essential-for-us-and-world-economic-health/comment-page-1/#comment-838 Dan Thu, 02 Oct 2008 21:45:20 +0000 http://www.creditinfocenter.com/wordpress/2008/09/30/bailout-package-essential-for-us-and-world-economic-health/#comment-838 It's not a $700 million bailout, it's a $700 BILLION bailout, an unconscionable amount of the nation's resources to hand over to a bunch of investment bankers as a reward for poor decision making. The same people telling us how necessary this is now were lecturing us about "personal responsibility" when they were rewriting the bankruptcy laws. Where is that sense of "responsibility" now? It’s not a $700 million bailout, it’s a $700 BILLION bailout, an unconscionable amount of the nation’s resources to hand over to a bunch of investment bankers as a reward for poor decision making.

The same people telling us how necessary this is now were lecturing us about “personal responsibility” when they were rewriting the bankruptcy laws. Where is that sense of “responsibility” now?

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