do you think the government should bail out to save the economy ?is bush being honest truthful ? what do you t?

I agree with you. The mortgage brokers out and out lied on people's applications, allowing them to get into homes they could not afford. People went along with it thinking "I'll get a raise" or "I'll flip the house before I have to start paying principle on the loan" and then when the interest only part ran out and they had to start paying the bigger payment and couldn't flip the house like they thought they went upside down.

My husband and I were going to try to buy a house 3 years ago when all that was going on, and when we saw the mortgage broker "fluffing" our application and encouraging us to pick up an interest only loan, decided it was better to wait. Now we're looking again and EVERY house we've looked at has been some degree of foreclosure - from short sale to the outright bank owned. It is very sad for the people who lost their homes, but I don't think that taxpayers should be responsible for bailing out people and banks who chose to take on loans they could not afford.

Lack of stricter government regulation and private enterprise greed did this, but also because nobody in America bothered to pay attention to an exact situation that happened in Mexico, years ago, known as the Fobaproa Scandal, ergo, a major bank bailout. At the time I thought the figures involved were staggeringly high, but after checking out what the USA will need to achieve the same thing, the Mexican figures are frankly just a walk in the park, in comparison.

I guess that nobody really believes Mr. Bush because he has abused the alarmist angle several times, mostly to push his war efforts through Congress for approval. In this case America is actually facing a crisis of Apocalyptic proportions. When he leaves office this, and the Wars will be the things people will remember him for. Sad, because taxpayers are footing the bill, as usual.

How serious is this? Well, Americans don't usually ask for outside help, so how come the US Treasury has requested the current Governor of the Bank of Mexico, to step in as a consultant to tell them how the Mexican bank bailout was structured and carried out. After all, he's done it before. I bet neither FOX or CNN have bothered to tell the American public anything about this.

No cash for trash.

Contact your reps -they may vote today. No bailout no way, no how.

Ron Paul, an Austrian school economist, predicted this in 2000 when all were saying our economy was on top. http://www.house.gov/paul/congrec/congrec2000/cr02... Now they are turning to the same keynesian economists who ruined the economy for a bail out solution.

Ron Paul has something to say about that, too.

He thinks it would be a tough year without the bailouts, but a tough decade with hyperinflation if we get the bailouts, and average Americans will be made to cover wall street losses when they most need the money themselves.

Plus, the bill is screamingly unconstitutional.

I could not agree with you more. But where do we go from here? I think the Gov should give money to the people to help them pay down those mortgages. Or find a way to re-work the mortgages so they will be less likely to go into default. Becase apparently that is how the whole crisis began, when ARM's reset and folks could not pay their mortgages.

thank you thank you thank you

I couldn't have said it better myself,

Why is our tax dollars going to help out the mortgage people that shouldn't have been doing business with the people in the first place. They have bad credit give them bad apr/interest rate. Don't give them a good one/decent one when they deserve it and then the apr shoots up and we all suffer. I know sounds like life a couple of bad guys spoil it for the good guys. But come on mortgage people do what is right.

No!!! The government should not bail out these money hungry bankers. I think if we do not bail them out....nothing will happen to most Americans, just those silly bankers.

president bush needs to learn to run the country i think barack obama will be the shiznit...