OMG: Bank of America Asks Congress for a $739 Billion Bank Bailout !!!

[patientrenter]

I feel the same way, pnilesh. (Actually, I probably feel more strongly than you that anyone stupid or greedy enough to have gotten into an upside-down mortgage should get no break, and be made to live on milk and peanut butter on wonderbread until the debt and all interest, per the original loan terms, is paid off in full.) But you and I know that the voters who got rich, or hoped to get rich, off ridiculous increases in home prices, just don’t want to deal symmetrically with the consequences of home price decreases. And they are a majority, so they will get most of what they want. For people like us, this is what’s called a learning opportunity.

Patient renter in OC

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[CA renter]

If you honestly care about not bailing out Wall Street (those who made fistloads of money off this bubble **and demanded that the government NOT regulate the lending industry**), CALL YOUR REPRESENTATIVES TODAY!!!!!

Write letters, send e-mails, contact journalists, etc. and call them every single day to tell them that taxpayers will not stand by while Congress gives our money to the bankers who caused this mess in the first place.

You can find out who all your representatives are here:

http://www.congress.org/congressorg/home/

[CA renter]

If you honestly care about not bailing out Wall Street (those who made fistloads of money off this bubble **and demanded that the government NOT regulate the lending industry**), CALL YOUR REPRESENTATIVES TODAY!!!!!

Write letters, send e-mails, contact journalists, etc. and call them every single day to tell them that taxpayers will not stand by while Congress gives our money to the bankers who caused this mess in the first place.

You can find out who all your representatives are here:

http://www.congress.org/congressorg/home/

[CA renter]

If you honestly care about not bailing out Wall Street (those who made fistloads of money off this bubble **and demanded that the government NOT regulate the lending industry**), CALL YOUR REPRESENTATIVES TODAY!!!!!

Write letters, send e-mails, contact journalists, etc. and call them every single day to tell them that taxpayers will not stand by while Congress gives our money to the bankers who caused this mess in the first place.

You can find out who all your representatives are here:

http://www.congress.org/congressorg/home/

[CA renter]

If you honestly care about not bailing out Wall Street (those who made fistloads of money off this bubble **and demanded that the government NOT regulate the lending industry**), CALL YOUR REPRESENTATIVES TODAY!!!!!

Write letters, send e-mails, contact journalists, etc. and call them every single day to tell them that taxpayers will not stand by while Congress gives our money to the bankers who caused this mess in the first place.

You can find out who all your representatives are here:

http://www.congress.org/congressorg/home/

[Author]

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