This month's casualties...

[alskahawk]

3.4 trillion is what i heard, and it'll go up from there...

 3.4 Trillion!! Add that too our 9 trillion debt. Most of our debt is owned by other countries. Our dollar is down to historically low levels. Its going to be a bargin sale on USA companies and infracstructure.

Every dollar we use to bail out pulls that much out of the money system. Which is why on tues(or wed) Britain and others where dumping loads of cash just to keep some cash flowing.

We shouldn't fire our politicians we should put them all in prison.

[bongaroo]

hang.. it is only about 1% of the people who bought homes that are causing the problem..  that is a lot tho.. most of the problem was with regulation..  they forced loan companies to lower standards to let in "low income" and minority people into the process..

the scum bags used the loopholes created by the government.

Just like forcing schools to take people based on color and to take illegals has ruined the school system..

lazs

I knew you'd make this a race issue.  It's like everything wrong with the world according to you can be laid at the feet of minorities.  But no numbers or statistics to back up your ranting, just hate.

[Nwbie]

As I understand the US Federal Reserve is not really government, it has representatives of the US Government on it's board, but the money under it's control is capital contributed by private banks. So this whole "the US government is bailing the banks out with taxpayer money" we're getting at this end of the world isn't right. Anyone feel free to correct me if I'm wrong.

wikipedia

http://en.wikipedia.org/wiki/Federal_Reserve_Act

[SkyRock]

US Federal Reserve is not really government

The real criminal element of our financial institutions lies within the reserve.  The founding fathers warned of this, actually was the most important reason for declaring independence, yet, in the early part of the 20th century, a few in government sold the collective soul of the nation to a group of world domination oriented sharks.  From that point on, we bacame slaves to them and the rest is history.
 

[Angus]

Bear in mind that things like the great depression from 1929 could actually form from nothing global. There was an "up" in the whole world. I lack the word for it, - maybe "teccnical"?
Anyway, it sucks.

BTW does anyone here know of a term described as the "pork wave"? (hope I have the right word for wave, - could be "swing" or "curve"). Anyway, there is something about that which....is....

[SFRT - Frenchy]

The variable house loan crap was for everybody. When I bought a House in Texas 2 years ago, the guy from Prudential told me:

- You qualify for two rates, a 6.25% fixed rate, or a 5.15% variable rate.
- What does variable means?
- That it can adjust over time?
- Does that means that I can become 20% next week?
- Yes, but it's very unlikely.
- But possible right, no garantee it's stay at 5.15% or close to it.
- Yes, but not for years.
- That doesn't make sense to me, I'll take the 6.25% fixed.

Murphy's law always applied to me, I guess my life experience saved my butt. Too bad many still believed in ferry dust sugarcoated handouts.

[68valu]

The variable house loan crap was for everybody. When I bought a House in Texas 2 years ago, the guy from Prudential told me:

- You qualify for two rates, a 6.25% fixed rate, or a 5.15% variable rate.
- What does variable means?
- That it can adjust over time?
- Does that means that I can become 20% next week?
- Yes, but it's very unlikely.
- But possible right, no garantee it's stay at 5.15% or close to it.
- Yes, but not for years.
- That doesn't make sense to me, I'll take the 6.25% fixed.

Murphy's law always applied to me, I guess my life experience saved my butt. Too bad many still believed in ferry dust sugarcoated handouts.

That is called  " A TURD ROLLED IN SUGAR "
 I would add a ROFL here but I really dont see any humor much these days.

[SPKmes]

The problem as has been said is greed....but on all levels. Everybody wants(sorry needs) this and that and the other, why.....just because. So here comes the financial sector...money, money come get your money...people flock great things happen to the economy due to the huge amount of spending. Governments,banks,lending facilities are all woohoo party time.....sometime later people have spent their -money and now have to pay back and obviously much slower than they received....oh no economy starting to slide not enough spending, quick let's consolidate peoples credit to help them and in the process give them a bit more so the spending can continue..this can only happen so much. I was only a naive young thing in the 80's but we managed to come back from that and put ourselves into this situation again. nothing new really. It's just this time most of us are in a different time with different needs in our life so has a bigger impact on us.

[mg1942]

As I understand the US Federal Reserve is not really government, it has representatives of the US Government on it's board, but the money under it's control is capital contributed by private banks. So this whole "the US government is bailing the banks out with taxpayer money" we're getting at this end of the world isn't right. Anyone feel free to correct me if I'm wrong.

The Treasury Dept. is borrowing money from the Reserve to bail out the companies. That money has to be repaid sooner or later. That means taxpayers will have to pay the bill.