But the Democrats went right along with them. Do you remember any big fights in Congress to protect the American citizens??

Me neither.

They were there.... They never made it to a passed bill.... the pubs have been in complete charge for the last 11+ years, and nothing could make it out of either house.. It was however on CSPAN... Only now do dems have a majority, in congress, but that is only if Lieberman agrees, and he doesn't on this..... only "social issues".

Just the facts....

The only one to blame has to be the Bush Administration....here's why....

In the early 2000s, following his election, Bush Admin. lowered interest rates to unrealistically low rates, below the even the T-Bill Rates. This led banks to borrow large amounts of money from the Feds, loan it out at low interest rates to borrowers, package the mortgages and resell them to Fannie Mae, Freddie Mac, AIG and other financial institutions to make money on the points. Basically churn the money as quickly as they can.

The low interest rates generated huge interest among borrowers who decided they can afford to borrow at such low interest rates and buy bigger homes or second and third homes.

This led to increased demand on homes. Micro-economics say that when demand rises, so do prices. Therefore, home prices rose out of control.

This caused people to panic that they may be left out of the market, or similar to the Dot Com bubble, invest in real estate to take advantage of the high returns with rising prices. Others decidd their homes were now worth so much more that they can buy luxuries they couldn't afford before, so they borrowed against their equity and splurged. This is a natural reaction expected of anyone. The Bush Admin knew this all along. That's why they lowered the interest rates figuring that it would be enough for people to feel that the policies of the Admin. were resulting in good times. (Little did they know!!).

Since most of these mortgages were fixed for a short period (3 - 7 years) then would adjust, the financial institutions that bought these packaged mortgages realized that these would be great investments with high returns when interest rates readjusted. So they bought these mortgages (AIG, Lehman, Goldman, etc.)

They forgot one thing...that when the interest rates went back up, people's incomes wouldn't, and therefore, there would be defaults and less demand for homes which meant prices would fall (remember Micro-Economics?) and the value of the collateral would also shrink.

Therefore, it is the Bush Admin's shortsightedness and oversight about the consequences of raising the interest rates later, that caused this fiasco.

This is what happens when we as voters choose such "shoot from the hip" leaders, who are incapable not intelligent enough to run such a massive and complex economy, and whose priorities and ulterior motives are sinister in nature. Voters need to be much more careful about who they elect. It is not a popularity contest. The most popular isn't necessarily the most qualified. One needs to read between the lines, look at their history, study their associations of the past, before one votes.

McCain is a mirror image of Bush in so many respects. Palin shows her lack of maturity through her over exaggerations of unrelated events into experience, and immature jabs in the form people seem to want to hear.

These two will take us down the same path, and finish off what Bush and Cheney started. You cannot overnight change your coat from that of a Wolf into a Sheep. McCain is McCain. He has repeatedly said, he supported Bush and his policies. Imagine, after the calamity that the last eight years have been, that there is a single individual who still supports Bush. What kind of a mind does one have to have to still support this Administration? And, we're going to elect this clown team of McCain and Palin??? If we do, we surely deserve the even greater disaster that will befall upon us!!

It's not about the parties, it is about the American government failing to protect its citizens. They are both to blame, although the Republicans are the worst of the lot. Sad.

Obama/Biden/We the People 08

I agree with your comments, although I feel that calling McCain and Palin a clown team is a bit much, they are just politicians. The biggest culprit in this mess is the Republican approach to governing and the willingness and eagerness of the American public to be distracted by issues that have very little to do with governing a country.

The Republicans have become masters at playing the American public, under the banner of conservatisim they have induced a large percentage of the American public to vote consistently against their own best interest, distracting and convincing them to cast their vote based on moral or social issues while they raided the hen house.

Democrats also must share some of the blame, because they have been more than willing partners in advancing the Republican agenda over the past 20 to 30 years. This is the primary reason why a lot of the important issues facing this country today have not been resolved. Very few politicans today, truly represent the people who voted for them, they mostly represent the groups that put money in their pockets.

Finally, you cannot give the American public a pass on this either. It was not hard for the Republicans and the politicians to convince us to follow their agenda. They appealed to our worst traits and we were eager to follow. They lie to us and we either ignore or find ways to justify their lies, and they act in inmoral ways and we find ways to say its ok.

This financial meltdown is truly a mess, but we brought it upon ourselves.

Remember that when the republicans had control of congress, they rarely let any democratic initiatives or bills come to the floor. So we the people have no idea what the democrats had to offer. This made it easy for the republicans to say that the dems had no ideas, and the people could believe it because none were allowed to reach the eyes and ears of the public. That, combined with needing 60 votes to pass anything in the Senate, made it virtually impossible for the democrats to have a say in anything. Even now when the democrats have the majority, it is by a very slim margin. Unless the republicans vote their consciences and do what they know is right instead of voting party lines, the republicans still have "control." The republicans are surely to blame for the mess that started in 1995 when they took control of the congress. We have had 13 years of backpedaling, and it is going to take a very long time to return to where we were at the end of Clinton's presidency before we can even think of moving forward.

It all comes back to Republicans, as a whole, believing in deregulation. They are notorious for it, not matter what it is. "Government regulation" were dirty words, and they made Democrats look bad for promoting it, saying that all we want is "Big Government". Now, all of a sudden, it's the "in thing" to say. Where were they when they should have been monitoring the lending institutions that were lending to everyone helter skelter. Where were the guidelines? They were lending to anyone regardless of the risk. They were riding the wave of the housing and real estate market. Now here we are standing flat footed on the shore watching everything wash out to sea.
How about no regulation and allowing so many companies move their manufacturing plants overseas, and to Mexico?
McCain was against it, before it was for it?

I believe the Republicans are to blame for this mess. They have had control over the White House for the last 8 years. They have had control over the congress for years, excluding the last 2. Why wouldn't they be to blame? John McCain voted over 90% of the time with G.W. Bush. It is time we have a change. Obama is the right choice! Enough of the cowboy/cowgirl politics! McCain is too old and honestly I think he is suffering from dementia. He needs to relax, try out some of his houses, and drive 1 of those 13 cars. Talk about an elitist!! Obama/Biden

Of course! Blame the Republicans! Even though the Freddie/Fannie reform bill in '05 that was co-sponsored by JOHN MCCAIN was brought down by Obama, Clinton, Dodd, et al. Didn't even let it come up for a vote. Why? Oh, maybe it has something to do with all the PAC contributions to Democrats from, you guessed it, Freddie and Fannie.

But wait. That would mean that the Democrat controlled congress is mostly to blame. No, no, that couldn't be possible. Blame Bush! Bush Lied! I can't comprehend the real facts so I'm going to run around like a chicken with my head cut off spouting this crap over and over, because maybe if I say it enough, I'll believe it...

So sad that people are so stupid they won't actually figure out for themselves who's actually to blame.

Consumer's perspective:
Let's see. I'll take out an "interest only" loan and pay a record price for the house I'm buying. Why not? The bank told me I should. I don't need to know that if the value of the house drops, I'll have negative equity. Anyway, that will never happen.

Bank's perspective:
Sure I'll make this loan, collect my commission, pass it off to Fannie Mae, and then I'm out of it. Everyone's doing it. Count me in.

Fed's perspective:
????????? What's good for Corporate America is good for everyone. Corporations make jobs. Government is bad. Everybody is honest so what could go wrong?

They were asleep at the wheel and under the thumb of Wall Street.

What else is there to say?

As much as I love to bash on Bush, and republicans, this time around, I am 100% certain the crisis lies on the back of homeowners/home buyers who overextended themselves on their home purchases...

Only idiots expect homes to continuously rise in value, like any commodity, their worth fluctuates with supply and demand. First, make sure you buy low instead of buying high as with stocks, and Secondly, make sure you can actually afford the darn thing taking into account how the economy will flucuate and possible job loss, illness etc....

I have seen friends of mine make mistakes in FAR FAR overextending themselves to barely qualify for a home instead of buying one more within their means...

If you look past the smoke screen, and trace the guilt all the way back to the source, it is the people who simply bought above their means... forget blaming the banks for making the loans, a person could always have said NO - we cant afford it...

The banks who made the loans to people they knew couldn't afford it that's why it even called subprime. Homeowners should have known better, but the banks preyed on what may be considered people who are not financially literate. I know people who worked in the mortgage industry and got out because of the tactics the banks used. It's all about greed, incompetence, and unconscionable behavior. And now there is a whole new crop of unscrupulous tactics popping up preying on those who are being foreclosed on. They get the homeowner to sign over the house, they take out a second on the equity in the house and take the money and run, banks get hit twice and they still don't see it. Next is reverse mortgages that will leave the elderly on the streets.

Consumers don't belong to organizations and associations that tout their high ethical standards. Those in the home loan industry do, however and point to them as selling points for doing business with them. Put the blame where it belongs (from a Jon Markman article) 1. regulators (read Federal Reserve Board, the Treasury Dept (OTC & OCC), the FDIC and the SEC) who stood by as US banks developed ingenious but dangerous ways of shifting trillions off their balance sheets 2. hedge and pension fund managers who gorged on high-yield debt, and 3. financial engineers who built towers of securitized debt (read CDO's and CDS's). As one poster wrote, who was at the helm when the ship hit the iceberg? Republicans and pseudo-moderates would not be merciful in their assessments of the current "crisis" had a Dem been at the wheel. The current president is, bar none, the worst this nation has ever had, obviously a product of in-breeding. Why else would his vile party promote a woman that believes a daughter should be forced to carry to term the offspring of her father's perverted lust? Incest is best if you're a Republican.

I agree with your observation. Its sickening how the double standard of regulation works or doesn't works!

you and I as taxpayers- if we don't pay our income tax guess what? The regulations in place are all over us! We get fined, money taken from our accounts, maybe jail. This goes for all citizens period!

Now the ceos of lending companies, wall street, banking execs all can bilk and plunder our system for tons of millions of dollars and brake the system. What do they get? Jail, accounts seized, investigations? NO! They get our tax payers money to bail them out! And the repubs want them to have a blank check in the process! The people know who did this to us, yet many conservatives are in denial Enough of the money grubbing, war mongering, and self-righteous pandering right-Wing! Enough!

You DO realize that even though the blame for the ill-advised bailout rests firmly on the shoulders of the Bush administration that the democrats in congress have continuously blocked efforts to reform Fannie Mae and Freddie Mac practices, correct? Surely you realize that only five years ago Barney Frank suggested that these entities were perfectly healthy and the government should stop trying to police them? Or maybe you recognize that these entities are not only major democratic contributors, but also essentially act as democratic slush funds and are run by major democratic figures, including one of Clinton's people who was run out of politics for having erected the departmental walls that contributed to the poor communication on 9/11?

No? You haven't heard all that? I'm not surprised. Propaganda would suggest that this is solely a republican problem. Open your eyes people. Don't take my word for it. Do your research yourselves. The sooner we get past partisan politics and realize that the mentality of BOTH parties are to blame for the state we're in, the sooner we can fix the problem and stop thinking the "change" they're spoon feeding us is the change we really need.

"Since 1989, Fannie and Freddie have spent an estimated $140 million on lobbying Washington. They contributed millions to politicians, mostly Democrats, including Senator Chris Dodd (No. 1 recipient) and Barack Obama (No. 3 recipient, despite only three years in office)."

This is a result of big government tinkering with a free market system

The steel and railroad industries still have not recovered from the governments tinkering back in the 60s

Socialism does not work!

"Since 1989, Fannie and Freddie have spent an estimated $140 million on lobbying Washington. They contributed millions to politicians, mostly Democrats, including Senator Chris Dodd (No. 1 recipient) and Barack Obama (No. 3 recipient, despite only three years in office)."

This is a result of big government tinkering with a free market system

The steel and railroad industries still have not recovered from the governments tinkering back in the 60s

Socialism does not work!

Middle America, quick now, name any Republican OR Democrat, in the House OR Senate, who makes less than you do.

If anyone really thinks that the Dem can do any better think again, they could not get the job done 2 years ago with the 100 day process. It will be the same old same old, just you wait and see. People have to take the blame for this mess not just government. If you can only afford a 200 Thousand house but you buy one for 300 Thousand when the bill comes due you cannot afford who is to blame? STOP AND REALLY THINK ABOUT THAT QUETIONS AND ANSWER IT HONESTLY The mortgage companies also need to be held accountable for this mess; it was all for the all might dollar. What has really happened to this county, we are being bought by foreign countries and all our work is being out sourced for what, so that all these companies can make BIG MONEY and CEO walk out of their JOBS WITH MILLIONS OF DOLLARS even if they are fired. Give a break people wake up and smell the roses.

Senator Chris Dodd, who is a democrat is in charge of Senate Banking Committee. Hello he is the one that is suppose to guard the henhouse!
Rep. Barney Frank (D-Mass.), is Chairman of the House Financial Services Committee,
Another guy sleeping at his post!. The best yet coming from the democrats is that deregulation is all the Republicans fault. Just to be clear, in 2003, it was Barney Frank who opposed the Bush administration and Congressional Republican efforts for the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis.
Under the plan a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry. "These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis," Frank said. He added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

US citizens who want more home, car, and toys than they can afford and mortgage companies taking advantage of that are to blame. Bush did not tell people to go out and buy more than they could afford. TV, the banks and good old stupidity and 'keep up with the Jone's' attitudes in this country did it. There is a reason that rich people still have their homes and middle and lower class people don't; they are smart enough not to overextend themselves. I qualified for a lot more house than the little place I live in, but what the Hell do I need that big of a house for? To impress my dumb neighbors who tore down a perfectly good house to build some monstrosity to hold their 1 child? Come on, put the blame where it belongs on stupid citizens and greedy financial institutions. Leave Bush out of this one; besides, he was too busy causing hurricanes on the Gulf coast for the last 5 years to have had time to create this mess. :-)

During WWII we were told to sacrifice. Food, Gas and clothes were rationed. President Bush told us to go out shopping. We were encouraged to spend, spend, spend. I for one, am responsible, and have very little debt, no thanks to Credit Card companies whose aggressive marketing tactics became a daily task to fight off. Government oversight needs to exist to protect us from these type of predators that only care about their bottom line and not the good of our citizens. This is a country for the people, including the little guy. Those that don't want government in their lives should get out of it, like the Republican party, and leave it to those that will put Americans first.

The conservative philosophy of deregulation=free markets=success=trickle down= happy, happy, has been exposed as a sham! And the legislation they've continued to push through since what? the Reagen years? have done nothing but weave a nice handbasket for our dollar and economic future to go hell in.

Devil's Advocate: Certainly a lot of people who bought beyond their means have some fault for their personal misfortunes, but Wall Street as a whole would not be in the mess it is right now if there had been better risk management by the bankers and brokers, so Wall Street certainly deserves a big slice of the blame.

Most likely the single political figure who is most to blame is neither Bush or the Congress, but Greenspan. However he had held his position as chairman of the Fed through part or all of four (!) Administrations, both Republican and Democrat - so there's a lot of implicit blame to go around. It was his and the rest of the Fed's easy money policies that encouraged the bankers and brokers to relax their credit guidelines. If anything, they were encouraged in this by both the Administration and especially by Congress since (not to put too fine a point on it) easy credit policies are popular.

The more things change the more they remain the same. Mark Twain is supposed to have said something like "Let us first assume that you are an idiot, and let us secondly assume that you are also a member of Congress. But I repeat myself." If they weren't all rascals, they wouldn't want to be there. That goes for both the Democrats and the Republicans!!

to "Moderate in madison":
I will blame Bush because he's the "decider, heh heh". Nancy Pelosi and Harry Reid do not have enough majorities to pass anything by themselves - get clued in on how bills get passed in Congress, and how vetoes get overridden. Plus, the DEMs have been in a slender majority only since 2006, what was happening before then? Too many wars keeping you busy?

Some US consumers did get in way over their heads w/ home equity - but what about those folks who were responsible with their money, but lost their jobs for whatever reason (outsourcing, illness, injury), and now cannot pay their mortgage?

Don't buy the line that this is not a 700B payout, but an investment that will kick in and deliver at some point for taxpayers - this is how we got neo-conned into the Iraq war and their oil paying for the war and reconstruction effort. Please !

Of course you blame the republicans because you only listen to the liberal media, do your homework, find what administration put in the deregulation....

George2: There are ALWAYS people who get caught in some kind of personal tragedy (expensive illness or injury in the family, death of the primary income producing spouse, etc) who find they can't pay their mortgage. A certain amount of that is to be expected even at the best of times, but it doesn't cause the entire system to melt down.

The problem wasn't primarily those who were caught in such personal tragedies, but rather a systematic extension of credit to those who weren't credit-worthy. And this was promoted on both sides of the aisle because it was convenient and popular for all concerned, at least until it came time to pay the piper.

I think that in reality responsibility lies on all the above parties, if not others we are not aware of. The brunt I think is rightfully in the lap of the sitting president who should've been having regular briefings with/from his treasury guy on this economy. This couldn't possibly have blind sided them, no way! Since I began listening to Chuck Howard months ago he's been talking about possible bank failures, and he doesn't even have access to some of the information Paulson and Bush do! Yes, people bought mortgages that stretched their budget, but I know a few people, and have heard a lot of testimonials from people who fell prey to predatory lending practices. At first it was a stretch to pay their mortgage, which they arguably shouldn't have signed on for, but once those sub-prime rates went up it led to a rupture of their finances. I think congress for the last 30 years has been all to ready to take the conservative road and deregulate those who should be regulated the most, especially since we now know that when they screw up, it's our job to support them!! I can't expect that most in Congress actually care, I really believe the lot of them are only upset for the reason that their dear friends on Wall Street didn't give them a heads up so they could take their millions out before things fell...

Matt-546167
Of course! Blame the Republicans! Even though the Freddie/Fannie reform bill in '05 that was co-sponsored by JOHN MCCAIN was brought down by Obama, Clinton, Dodd, et al. Didn't even let it come up for a vote. Why? Oh, maybe it has something to do with all the PAC contributions to Democrats from, you guessed it, Freddie and Fannie......
.....................................................................................................................................................
People like you totally amaze me. In 2005 the REPUBLICANS had the majority >60 ... I know its hard to remember ... and they had such a majority that even if EVERY Democrat voted against a bill, it would pass. So that leaves the only other answer for what happened ... your GOOD BUDDIES THE REPUBLICANS VOTED AGAINST THE BILL! Get a clue ... the REPUBLICANS are the friends of MONEY not you and not America. DUH!

In defense of the Dems, just look at the Rove-ian tactics the Repubs have used over the last several years. The GOP have made it impossible to get anything done that would help the middle class or the common person. McCain himself protected the rich, the oil industry and other corporate types as though he were protecting his own ch8dren, and NOW we're supposed to believe the BS that he's a reformer? If so many lives hadn't been ruined it would almost be comical. Instead, it only proves the man will do anything to get elected.

Has anyone every heard of "saving money" instead of buying things you can't actually pay for? What has gone on to fuel this whole mess is the greed of people. People bought too much house at a temporarily low rate that would shoot up (and has) in a few years. People didn't do their homework before they signed on the dotted line. They just knew they wanted it all at once, the big house, the fancy car, the meals out on a credit card... you know... the American dream. The American dream has definitely changed over the years. Used to be that people worked hard to save their pennies to buy what they want. Now all we do is slide the plastic, borrow against our home equity, and go futher and further into debt just to keep up with the Joneses.
People are, and were, the decision makers at the top of all these companies who wrote loans to consumers with poor credit. It's people who were too greedy to write good loans, and just went for the "sale" because it got them a bonus. I've worked in the lending industry personally, and I can tell you what type of loans companies were making to people. I watched the company I worked for lend $250,000 - $600,000 to numerous people with credit scores under 500, debt-to-income ratio above 50%, and writing the loan at 8% - 24.99%! These are not made up numbers people! And we wonder why we have a crisis on our hands?!? I was fired (thank God) from the company for bringing up concerns about the loans we were writing. They didn't like that much I guess. It was the people that I worked with, and that were above me, who I watched write bad loan after bad loan, and I couldn't help but think how wrong it was. I was not there for very long.
I can't stand hearing about all the politician blame. There may have been some regulations that could've been in place, and maybe we wouldn't have been able to buy as much stuff or everything we wanted; but remember this, we elect these people into office, and they are a reflection of the wants/needs of the people they represent. So to say that this is all Bush's fault is ludicrous. To say that this is all Clinton's fault is also insane. I don't care if you're a Dem or Rep or anywhere in between. We, the people, are the force driving the market no matter what is going on. If it's a war, people are to blame because there is obviously a difference in ideals causing the conflict, which thus effect the market. If it's credit crisis it's because we bought too much "stuff" that we didn't NEED on credit, and now we're actually having to pay for it. Weird I know, but when you sign a contract to pay for something... you have to pay for it! Novel idea, huh? C'mon America! Stand up for what's right! Quit playing the blame game and pointing the finger at everyone else! This is our fault... everyone who is a part of this country. Own up to it and figure out how to combat it! A hint: Spend less on crap you don't need, and start looking to spend money on what you actually need!

Here how it worked out, Mr. and Mrs. Idiot walk into a bank wanting to get a home loan. Mrs. Idiot has recently graduated from college and owes $45,000.00 for school loans while Mr. Idiot just bought a new car worth $35,000. Mr. and Mrs. Idiot are newlyweds, have no kids but just have to buy that 4 Bedroom, 4 Bath and 3 Car Garage down by the ocean. Note Mr. and Mrs. Idiots take home pay is only $60,000 a year combined but with a variable rate mortgage they can afford the payments on a $500,000 loan right? Wrong!!!!

But anyway they go ahead and get the loan, the bank invests their estimated return into the stock market and yet this entire time oil continues to sky rocket when all of a sudden stocks start to fall, fall, fall and the variable rate mortgage starts to climb, climb, climb and all of a sudden Mr. and Mrs. Idiot now can no longer afford that beautiful home and just like Paul Harvey people; "Now, you know the rest of the story".

People I know it's awesome to have all the bling and the blang but let's get real, were now a society of give me more and I'll pay for it latter. I guess all the carelessness is finally catching up to America and if someone were to ask me if there was going to be a total collapse in the U.S. economy my answer would be maybe not now, maybe not tomorrow but it's going to happen.

I agree but it was Ronald Regan who started the whole thing with less government to regulate BIG Companies that's why middle class is just about gone you are either rich or poor!

John Galt pinning the blame on Alan Greenspan? Ayn Rand must be turning over in her grave.

take a look at the above cited article. The Bush Adminsitration tried to get Congress, who has statutory authority to regulate Fanny and Freddie. It was congressional democrats who blocked it.

Democrats, republicans, both and neither. Try looking at the Federal Reserve. The hold the greatest measure of blame.

"None so blind as he who will not see" I don't know the author. The Democrats wanted the housing for those that can't afford it and profited greatly from protecting it. Mostly Democrats and top donations to Democrats from these loan sharks. The Republicans share in this but we are supposed to be the government and we sat on our asses and let them do it. Of course a great deal of propaganda by the socialist news media kept us numb and dumb. "If you don't read the news you're uninformed, if you do read the news you're misinformed" Mark Twain.

WHAT ABOUT BARNEY FRANKS, HE NEW WHAT WAS GOING ON AND DIDN'T SAY A WORD, IT LEADS ME TO THINK HE WAS GETTING A KICK BACK, IN CASE YOU DIDN'T KNOW HE'S A DEMOCRAT AND HE'S ON THE COMMITTEE THAT'S SUPPOSE TO BE OVERSEEING THIS TYPE OF THING.

Everyone is so ready to jump on the Bush bandwagon to place blame, however, lets not forget that we have a democratic congress. How about blaming the greedy mortgage lenders who gave loans for homes that people couldn't afford. The dem's got their way by giving everyone the american dream-A home for everyone, even for those who can't afford it. Look where that is gotten us. There is plenty of blame to go around, and I find it very funny when people say "

One billion dollars is no longer enough. The price of admission to this, the 25th anniversary edition of the Forbes 400, is $1.3 billion, up $300 million from last year. The collective net worth of the nation's mightiest plutocrats rose $290 billion to $1.54 trillion.

This is destroying America. These are the top 400 Billionaires in America

it's funny seeing everyone jump on McCain about this and Obama about that. Truth be told. No matter who gets in office they will not do a thing for the average person in America. It will be more of the same. Look out for the rich while the middle and lower class rot away. Open your eyes America.. We need less Government in our lives. Those in office are put there to be our voice and do as we command. Not do as they want to. Allow off-shore drilling in areas we have already mapped and in areas we already know where oil is. Not 100 miles off the coast where we haven't even mapped. And you know whos to blame on that.. No not Bush.. And no not McCain.. But the Dem's. Why do you think it to them forever to answer the call when Bush kept asking congress to vote on it and the Dem. Majority Leader wouldn't act. Cuz she hide in her 5+ million dollar home tring to figure out a way to screw the bill and she did.

Again. People will vote for who they want. Thats the wonderful thing about America our freedom. But really are they going to do anything for me or you. NOPE. Open your eyes America no matter who gets in office we are still screwed.

"Quote : It isn't that he can chew gum and walk at the same time, he isn't used to voting anyway. He has a 45.9% voting record.

BILL CLINTON signed the agreement with Freddie Mac in 1999 to lower their standards to "Put everyone in their own homes". That is according to Bill Clinton himself on the Today show this morning with Matt Lauer.

Why are you people who are blaming Bush for this not placing the blame where it belongs? Are you just so stinking blindly deceived by the media that you refuse to think? You don't even have to do much of that. Bill Clinton told on himself this morning, yet you continue to blame Bush.

And as for you who think B.O. is going to help, you're right....He will help some, but you can bet not all. There'll be more give-a-ways which go right on the backs of those who work hard for every penny they earn. It's the Democratic way....That's who is responsible for the Freddie Mac situation. : "quote

Put the blame where it's needed.

The problem started when the Dems put in regulations that forced banks to give loans to poor people so they could get their votes. Just look into Freddie and Fannie. Bush saw the problem in 2003 and tried to change this but was block by the Dems. He could not get enough votes in the SSenate to push it through. Banks forced to do bad loans, then Freddie and Fannie took them off their hands and re-rated them to sell to Wall Street. Please put the blame where it belongs- The Dems using Freddie and Fannie. You will not hear the truth from the MSM since they are in the tank for the Dems

I second that...

What about personal/corporate responsibility! My husband and I chose not to buy, because we wanted to make sure that we were: 1. able to afford a house, 2. our finances were in order, and 3. pick and choose what we wanted, not what someone else was trying to sell. Why should my taxes be spent on irresponsible decisions and actions by people and corporations wanting more than they could be accountable for?! It's easy to blame one thing or another, but to put blame on one president?! Give me a break!

The truth is my husband and I waited for the right opportunity. We didn't listen to what anyone else had to say. It's about responsibility and accountability. We don't expect or ask for a free ride, and we weren't greedy enough to go above our means. So I'd say, we are much better off!

This is the most unheard of thing I have ever seen. Why bail them out? If you or I had done this crime we would be in JAIL. Yes this is a crime! When we take high risk paths with our money and loss, we pay the price. Now the land of the free think that we should pay for these stupid investments. Let the greedy see there mistakes and pay what ever price is necessary. Make them pay back the retirement funds, and don't give the CEO millions to leave. Make them stay and work for nothing.

Yes the last eight years we have gone down hill at the fastest pace in history. We the people should have stopped this! Now we can " VOTE " for a Change. Not the same old boys, but the real party of Change! NOW IS THE TIME TO TRUST IN GOD!!!!!!!!!!!!

Obamanation? U sound like the epitome of racism.

To Mickey-237955 - why is it always about race? That has nothing to do with this discussion - it it was just a play on words - get the chip off your shoulder.

Obamanation is a slur. Racial or no? I guess it depends on the individual's intent. I agree that race, nor the "Obamanation" comment have anything to do with the topic at hand.

Keep drinking the Kool-aid. Do you REALLY think that Obama and Biden are your tickets to salvation? Are you REALLY that clueless? Last I checked, all four of these people we have to choose from are cogs in the same political machine. And it is this machine that we should be fighting. This bi-polar, party driven crap gets us nowhere. The system is flawed from the source. We need more people thinking with the item in their heads, and not pumping their fist screaming about what the party line is.
As for who's to blame...WE ALL ARE. Anyone who has a credit card balance, mortgage for a house bigger than their means, people who drone out in front of DIY Network and take $50,000 loans to redo their kitchens.

Instead of aiming for the easy target, take a hard look in the mirror. Let he who has not sinned cast the first stone.

To New York 2000- down the drain looks pretty good to me - thats looking up after this administration put us all in the cesspool. Next question, how much is McCain and Palin paying these days?

Where are the special prosecutors that the Dems so love to call? I think their are some scared politicians in Congress... This is everyone's fault...Bush, Congress, the FED, CEOs not being forthright,Personal Debt and no personal accountability. We bail anyone out we just guarantee this will happen again and again.

I want to know how close folks on both sides of the aisle in Congress were to this. I think corruption does not belong to a specific Party, but is a shared trait caused by too many years in Congress. I want to see Special Investigators going after this disaster instead of Steroids.

To Bob Morgan, thanks for a very accurate summary.

1st - anytime Bush and his cronies want you to do anything big as this wall street bailout**right now or else the sky is gonna fall**think twice.. hello... they lie. Think the Iraq war, where we went to fight Bin Laden in Pakistan by way of Saddam Hussein in Iraq...Bush just went ahead and declared war without any ones consent..and especially not YOUR CONSENT.
2nd - No way do we want to let this **free**bailout happen - that money needs to be paid back to the taxpayers with interest ! When was the last time YOU really screwed up and someone else paid the bill for you....doesn't happen in real life and shouldn't happen for banks either...Have you ever gotten anything from a bank for free??Think about the last time you were overdrawn by a nickel and they charged you 39 bucks!
3rd...I have excellent credit - but the banks have taken to calling me before a payment is even late **just to make sure I'm going to pay it**Imagine the living hell your life would be with a bank collector if YOU didn't pay a bill to THEM. And now they want YOU to suffer to bail THEM out?? Who is gonna bail ME out of MY bad decisions...Do I get to call them and hound them for payments ????
I didn't think so..
4th - Bankruptcy regulations have changed....if you can't handle your bills anymore no matter what the reason, you are NOT getting out Scott free and getting a fresh start. I think we should return the favor!
5th - When I can walk away from what I owe with no penalties for doing so...OOps I made bad decisions...I'll have more disposable income and then I may be more amenable to bailing the banks out - yes the economy may collapse if we don't - Russia's did too but they survived it and we will too, eventually.Either way we handle this it's gonna be hard but do you really want to hand this debt to your children to pay?
6th- If we bail out the banks does that mean I get the 1000's of dollars back I've lost in my 401K this year??? Yeah.. I thought not...

Do you really think anything will different with Obama? It's going to be the same old special interest programs wrapped in a different package. Gov't is out of control and now they (dem Congress by the way) want us to foot the bill. It's business as usual and Main Street is screwed again. Obama is not the second coming, in fact his policy makers are the same bad guys that wrote some of the current economic policies. Plus the guy has no record of doing anything and that makes him better than a guy who at least took a position on something. McCain has my vote for at least having some kind of resume. Don't respond with the ridiculous Palin is one heart beat away crude.

McCain All the way!!!

I third that.

Obomination is of course a play on the biblical word ABOMINATION...well for your information....that same word used to describe gay marriage also is used forbidding eating meat with milk and also wearing mixed fibers like wool and silk as well as not keeping the Sabbath on Saturdays (shabbat)! People who use that A-bomb with a biblical bent usually are the first to be doing many other ABOMINATIONS like listed above.
Now we are "using" it to describe a candidate???
I am sick of stupid people using stupid analogies that that hear from their stupid pastors parroting & perpetuating stupid hatred.
In the meantime...we are being raped by the "puppeteers". Anyone seen David Icke??
Now that feels and smells and tastes like an ABOMINATION...at least to me!

WELL THEN YOUR SORELY CONFUSED, BECAUSE IT IS YOUR DEMOCRATIC CONGRESS THAT WANTS ALL THIS MONEY TO FIX THIS....BUSH IS MERELY AGREEING WITH THEM..AND FOR THE LIFE OF ME I DON'T KNOW WHY

It is amazing to me that the republicans tout the "Reagan years" as some wondrous event; they keep repeating it enough. I suppose they think the more they do the more people will come to believe it. It was not just the savings & loan debacle under Reagan. It was also: pension "reform" that has ended up with companies cheaping out and saving $$$ by giving people 401Ks that depend on the stock market (great idea, right?); it was a drug policy which was not a well thought out program or financed but hinged on "Just Say No"; it was Agriculture Secreatary John Block standing outside at two press conferences saying at one - ketchup is now deemed a vegetable on school lunches because it contained tomatoes (is that like saying beer is a cereal or in the bread group because it contains grains? Or Sarah Palin having foreign relations experience because she can see Russia from Alaska?) At the second press conference, after the Reagans received criticism for serving a chocolate covered in edible gold at a state dinner, Block said that us common folk don't have to eat steak for dinner, we can have peanut butter sandwiches for they have just as much protein as the steak (reminiscent of Marie Antoinette?) No Joke! Yuppies. Junk bonds. The rich got richer. The attack on the environment. The firing of air traffic controllers and union busting.

Now look - today we need air traffic controllers; the decline of unions has meant lower wages and loss of benefits. This is what the republicans stand for. Hoover & Hoovervilles then democrat FDR to clean up the mess. Reagan/Bush I then democrat Clinton to clean up the mess. Bush II and now we need a democrat to come and clean up the devastation to our wonderful country caused by the worst president this country has ever had.

It is amazing to me that the republicans tout the "Reagan years" as some wondrous event; they keep repeating it enough. I suppose they think the more they do the more people will come to believe it. It was not just the savings & loan debacle under Reagan. It was also: pension "reform" that has ended up with companies cheaping out and saving $$$ by giving people 401Ks that depend on the stock market (great idea, right?); it was a drug policy which was not a well thought out program or financed but hinged on "Just Say No"; it was Agriculture Secreatary John Block standing outside at two press conferences saying at one - ketchup is now deemed a vegetable on school lunches because it contained tomatoes (is that like saying beer is a cereal or in the bread group because it contains grains? Or Sarah Palin having foreign relations experience because she can see Russia from Alaska?) At the second press conference, after the Reagans received criticism for serving a chocolate covered in edible gold at a state dinner, Block said that us common folk don't have to eat steak for dinner, we can have peanut butter sandwiches for they have just as much protein as the steak (reminiscent of Marie Antoinette?) No Joke! Yuppies. Junk bonds. The rich got richer. The attack on the environment. The firing of air traffic controllers and union busting.

Now look - today we need air traffic controllers; the decline of unions has meant lower wages and loss of benefits. This is what the republicans stand for. Hoover & Hoovervilles then democrat FDR to clean up the mess. Reagan/Bush I then democrat Clinton to clean up the mess. Bush II and now we need a democrat to come and clean up the devastation to our wonderful country caused by the worst president this country has ever had.

It is amazing to me that the republicans tout the "Reagan years" as some wondrous event; they keep repeating it enough. I suppose they think the more they do the more people will come to believe it. It was not just the savings & loan debacle under Reagan. It was also: pension "reform" that has ended up with companies cheaping out and saving $$$ by giving people 401Ks that depend on the stock market (great idea, right?); it was a drug policy which was not a well thought out program or financed but hinged on "Just Say No"; it was Agriculture Secreatary John Block standing outside at two press conferences saying at one - ketchup is now deemed a vegetable on school lunches because it contained tomatoes (is that like saying beer is a cereal or in the bread group because it contains grains? Or Sarah Palin having foreign relations experience because she can see Russia from Alaska?) At the second press conference, after the Reagans received criticism for serving a chocolate covered in edible gold at a state dinner, Block said that us common folk don't have to eat steak for dinner, we can have peanut butter sandwiches for they have just as much protein as the steak (reminiscent of Marie Antoinette?) No Joke! Yuppies. Junk bonds. The rich got richer. The attack on the environment. The firing of air traffic controllers and union busting.

Now look - today we need air traffic controllers; the decline of unions has meant lower wages and loss of benefits. This is what the republicans stand for. Hoover & Hoovervilles then democrat FDR to clean up the mess. Reagan/Bush I then democrat Clinton to clean up the mess. Bush II and now we need a democrat to come and clean up the devastation to our wonderful country caused by the worst president this country has ever had.

I couldn't agree with you more, Rosie. And to be frank, this election is no longer about party lines/loyalty. The time to vote for the candidate (and not blindly for the party they represent) is now. If the public opened their minds, they would see that John McCain, who I find to be an honorable, brave man in his own right, is not fit to run this country in its current state of affairs. And Sarah Palin sure isn't ready to be a mayor of a town of 6,000, let alone vice president.

Granted, Obama may not be the most qualified choice either BUT, he seems to understand this nation's plight on a more personal level than John McCain ever has. And experience? Well Biden's got it and Obama strikes me as the kind of man with enough humility to tap that experience to our advantage. They look like they will work as a team, not a ventriloquist and puppet act.

I don't know if either candidate has ALL the right answers, but I think it's time we let a Dem clean the place up for four years, it can't possibly be any worse than the last 8 or the frightening nightmare of another 4 years under a Republican administration

Yay Rosie - Someone with a brain that can remember and learn from the past - I'm with you girl!

Rosie unfortunately most people has mass amnesia, can't remember a few days ago when the unemployment went up is difficult for most to remember what every republican president has done to the average American. They mess up the country with debts and wars and the democrats have to go there and fix it.

Just like the great Democrat Jimmy Carter had to clean up and fix all the problems in the 70's. Elect Obama and he'll be next Jimmy Carter. Get Real.

That's what I'm afraid of! Like we need another wimp in the Whitehouse. Which embassy will turn into a prison this time under Obama's watch? As to whose to blame? WE ALL ARE! The American people that have put all these clowns into the the Executive and legislative branches of our government over the last couple of decades. Virtually the entire government is an exercise in Style over Substance. No one really seems to care what gets done for the good of the country and of its people as long as getting elected to office is more of a popularity and/or beauty contest rather than a truthful analysis of a candidates' capabilities. Looking at Obama's so-called qualifications.....they are almost non-existant. A perfect example of style over substance. Why do these elections always come down to a choice between tweedle-dumb and tweedle-dumber????

This situation was all done under a Republican controlled congress not the Dems. Remember it was the Gramm-Leach-Bliley Act authored by Phil Gramm, you know McCain's bud, that made all this come to fruition.

Yes, Clinton signed off on them, but he was really in no position to fight against a veto proof Congress.

Wall street and the banks should go broke, they wouldn't help me and you, All politicians are crooked. But my dad fought in World War II for this great country, and I sure will
not vote for Obama , we should be proud and not ashamed we won the war. Obama salute
the flag, or leave this great country,too the American's to run, we are proud of America and you go back too the country where ever it is you love??????? Since I work for a living
and don't get welfare or illegal and milk this country for ever nickle it got left. I want be voting for you, Obama Hussein VOTE McCain

Been there. And the current "deregulator" administration stood by an watched it all happen....

Regulate themselves my A$$....

ajoe you have it exactly right thanks for your explanation of the facts.

That's the point, though. You were responsible. You made your own choice based off of what you could or could not do. I applaud your decision! Too bad, too many others did not!!

Exactly - I was told with 725 credit score that I should get an adjustable mortgage. Make all the money I can on appreciation while the loan is practically free - and then refinance before it is time to pay the piper - I didn't fall for it either, but then I have an education - something that has been out of reach for most Americans for a very long time.

Exactly - I was told with 725 credit score that I should get an adjustable mortgage. Make all the money I can on appreciation while the loan is practically free - and then refinance before it is time to pay the piper - I didn't fall for it either, but then I have an education - something that has been out of reach for most Americans for a very long time

We had a rock solid, low interest VA loan pre-qualified when we bought our house, and STILL the motgage broker was trying to sell us a 5 year superlow interest ARM which would be resetting about....now. So glad we didnt fall for that garbage. We have a nice rate, and have not lost much equity in the current mess because of where we live.

Investment banks should never gone public, mortgages should never have been bundled. My good loan is somewhere in a bundle with your good loan and somebody elses bad loan. The bad loans make the bundles "un-valuable" and "toxic". The second-by-second scrutiny of being publicly traded jeopardizes banks that would have privately "weathered the storm" a couple of decades ago. Now the stock just tanks and it all goes down the drain if we dont buy the bundles and hope that we can make some of the 700 billion back when the real estate market stablizes.

The real estae market may stabilize, but if we bail out the banks, we will never see any of that money again, regardless. But we will see the tax bills for it.

I agree. It annoys me that WE PAY the members of Congress to do a job.

But the reality is that people bought houses that they not only couldn't afford but also didn't even need. I can not count how many single people I know that drive big SUVs and live in 3 and 4 bedroom houses.

We have been a very materialistic nation and now we're paying the price.

Amen! But, Bushie and his rich cronies are to blame, too.

Mr. Jones hit the nail on the head albeit rather harshly. His message will fall thru the cracks due to being politically incorrect. Saudi and China are ending up with all the deficit markers people! Wake up America!!!

Jason you hit the nail on the head. Unfortunately most who read what you said don't get it. They aren't deep enough and like you said "sheep". A bunch of followers that have no mind of their own. It really is pathetic when you think about what has happened in the name of political correctness. It took one person to make the changes happen such as prayer and the pledge of allegiance in schools and the rest of the "sheep" just moaned and groaned about it and did nothing. The "let's accept whatever is doled out to us mentality". The USA is no longer a classy strong country. The way I see mainstream America is: greedy, materialistic, unaccountable for stupid decisions, lousy parents that hand our future adults everything on a silver platter instilling in their little minds that "they are entitled without earning". This country is ramming college education down everyones throats and colleges are turning out dummer people that have no street smarts or common sense. Professors are biased when they should be non-biased and brainwashing kids into their way of thinking. Think about that for a minute!!! Bring on the stupid disease. The population would downsize by a large percentage.

Amen to Jason Jones - well said. Greedy, materialistic and unaccountable and just plain dumb. I think that sums it up!

Greed does sum it up. Can we, as a nation, change that? Parents, start with yourselves and then your kids.

The bipartisianism is REALLY getting to me ...my WY vote counts for nothing.....Could we just shake the whole thing up, getting the process to where the forefathers imagined it would be? Is there anyone else on the ticket 11/4?

Newspeople, please stop selling the news...just report it for heavens sake. Let's get over ourselves and all do a better job at being Americans.

Jason, even as a democrat who believes social programs can do some good I think many many people are willing to take everything they can and tell us they Deserve it. Moms favorite line is now and will always be in my head "you will enjoy something more if you get it yourself" somehow are society has no shame Food Stamps, Rent Subsidies cash payouts all conspire to make us the weaker people that many have become, my boys would never come to our house bragging they received assistance knowing I would blow up. Then I would give them a few bucks and the "you will enjoy someth..." my mom gave me and my 5 brothers.

Jason, thank you for summing it up. The "sheeple" of the United States are WAAAY to ready to vote based on party posturing, not reality. The Founding Fathers must be spinning in their graves after the trampling that's being given to the work they did! The blame really has to fall squarely on those who envisage politics as a career. The impetus is to get re-elected, NOT to represent those who voted them into office. It would be nice if there was a way to create a "do-over."

and you don't think there isn't already a STUPID disease? Try on vaccinations full of thermerisol (flu vaccine for elderly!), fluoride, chlorine, mercury fillings...all of which are making us sick & more stupid! Potentially genius children are autistic now and birth with anesthesia and complications and not breastfeeding are causing more IQ to be lowered and SHEEPLE to be sicker which makes our medical system richer! Can you see it?

You are so right!

The Democrats are ALSO to blame for not protecting the American people, but your theory that everything was wonderful until two years ago is ignorant.

This has been building for a decade. And everyone should have seen it coming because the same thing happened in the late 80's and early 90's. It just wasn't so bad back then because they didn't have as many deregulation's in place.

The GOP are no longer the party of fiscal responsibility. When Clinton left office the economy was good, the dollar strong, and the debt was down to $13 billion. Bush has run up a massive debt which is now more than doubled because of this bailout. The next President will inherit a debt of over $1 trillion.

Part of the problem is with our economy is the value of the American dollar - or lack there of. If McCain is President the dollar will continue to drop because the rest of the world will not trust us to make rational decisions.

If Obama is President the world will feel that the US is turning their country around and the value of the dollar will grow which will help our economy.

WHAT... are you talking about?????

The republicans have been in charge for the last eight years and have systematically dismantled the regulations that would stop this, and have ignored the ones that ARE in place!!!!!

The democrats go a 1 person majority (in congress only, not the senate) in January of 2007 (and that is only if you count Lieberman (you know the guy at the RNC convention). and he doesn't vote with the dems on these issues, only "social" issues. THAT is why you have only seen social issue stuff come out of congress since Jan 07, because every democrat has to agree, AND Lieberman.

Since that time, Bush has veto'd 12 bills. Before that (for 7 whole years) he did not veto a single bill. That includes dozens of bills that "deregulated these industries.

Before the dems got an even vote in congress, the republicans had COMPLETE control (senate, congress, and presidency) for 7 years! and they were in charge of the senate and congress for the last 12 years!!!!!

For the last 25 years the republicans have been the CHAMPIONS of deregulation!!! Sure they got people to go along sometimes (just like the Iraq war) but they were pushing for deregulation the whole time and ARE the architects of the deregulation that allowed this to happen.

PERIOD.

If anyone is interested you can do your own research and get the play by play.....

www factcheck org
www politifact com
www snopes com
www govtrack org
www wikipedia com
www senate gov

TRUTH/ISSUES 08

clinton did all of the deregulation when he was in office.mccain cosponcered a bill in 05 that the dems refused to vote on.oboma is a big joke he is only looking out for him self

Not True....

The banking deregulation was done in 1999 by the "republican" held senate. John McCain voted for that bill...

The wall-street deregulation was done in various pieces over the last 7 years by the "republican" congress and senate.

Several "existing" rules governing wall street (the most important of which were the "uptick" rule, and "naked" short-selling) were also scrapped over that same time, with the last one, the uptick rule being killed in July 07 by Chris Cox of the SEC (no vote allowed)

One by one the dikes were removed that first allowed banks to do much more than they used to, and allowed mortgage "brokers" to become mortgage originators, and sell those loans to wall-street banks. Then those wall-street banks grouped those loans in to CDO's and Derivatives (exotic Bonds) and sold them to other banks. The scrapping of the uptick and naked short-selling rules allowed Hedge Funds to push down the price of companies to the point that their holdings were less than they bought them for, and the bonds they held were so illiquid and nontransparent, they couldn't justify what they were worth.

These are the very instruments that the Treasury is proposing to buy right now to the tune of 700 Billion...

So.. tell me again how this works, and how Clinton did it??????

As for Obama, he has dual degrees from Columbia University (where he graduated at the top of his class) and Harvard Law School (where he was president and editor of the Law Review) and has been a law professor for 12 years. He could have easily written hi own ticket at ANY of the wall-street firms we are talking about now, and made Millions as a lawyer, or even Billions at a Hedge Fund. His classmates certainly did....

So.. how is it that he is only looking out for himself again???

Obama/Biden 08

Absolutely AvgJoe, you sound like someone who actually checks facts before sounding off in the comments forum, unlike most people *ahem... repubs*. But you musn't blame them, they're all so terrified of losing their 4 houses and 7 cars and Christmas in Cabo trips that they will regurgitate ANYTHING the GOP tells them in the hopes that unsubstantiated accusations will stick. There, there pubbies, don't be sad. Obama won't bite, he'll just raise your taxes to try to clean up the mess your party (that you so blindly support) has left us.

We, the People, have been thinking for the past 8 years... Enough of the rich Republicans not knowing that Main Street America exists. Democrats had to clean up Bush Sr. mess - but Jr. sure did screw this country up BIG TIME... but the Democrats, hopefully, will clean up his mess, too. I can see that there are still plenty of the 50+ millions idiots that voted for Jr. twice... Sure hope there are a lot less of those idiots in '08.

Oil went up $23 a barrel because of the market being so screwed up, not because we are not drilling. It will go back down. Obama and Reed voted against the bill but in a Republican controlled Congress, so I think you are on the wrong track there. A lot of Republicans voted against it also.

Your statements about Fannie Mae are way off base...
Obama accepted funds from the employees of Fannie Mae- as a top McCain adviser/lobbist took 2,000.000 from the Fannie Mae business...
get you pandering straight!
there plenty of hypocrisy to go around- its just that the gOPs is well beyond the dem party!

Couldn't have said it better...

You mean to tell me someone has been in the White House for the last 8 years????

Hahahahahaha! Excellent point Carol and way to go Slick for making me laugh out loud today when there is nothing funny about this....

I agree that the Republicans have an amazing ability to push through what ever they want, but the Democrats go right along with them..as do the American people.

Only 3 Senators voted against the invasion of Iraq. "Boycott French Fries". Remember that chant of wisdom from the American people?

Look at the issue of off-shore drilling. Oil companies are reaping record-breaking profits every quarter, yet instead of making the Oil Companies PAY THE MONEY BACK since they are OBVIOUSLY jacking up the prices at the pump the GOP came up with the talking point that: "it's because we can't drill everywhere we want". And the GOP repeated it so often that the BS has just been voted on in the House. The Democrats COULD HAVE voted it down since they are in the majority or the Republicans COULD HAVE told the truth to the American people.

WE PAY THEIR SALARIES, and THEIR health care. If the elected officials feel no obligation to do the job that they are hired to do then they need to PUNCH OUT and GET OFF MY PAYROLL.

Yes, Republicans are more corrupt than Democrats. But that's like the 300 pound person calling the 400 pound person fat.

In general, I agree. In THIS case... the record is pretty clear.....

Ditto, i agree,but who has ruled congress for so many years, and the senate simply rubber stamped most of the bills submitted. i say it's time to vote out all the sacred cows in the senate and congress and put some people in that will represent the American people. by the way,i,m 73 years old and seen a lot of this coming. really from the special interest groups. Do away with lobbyist.

Well put.

Agreed

You hit the nail on the head!

I agree. In fact I feel that most of the actions of the Bush Administration, if they would have been thoroughly dissected and examined, would have been considered treason against this entire country and it's people. They used Patriotism as a smoke screen to cover all of their acts of greed. Every decision they made "for the country" put more money in their already rich pockets and less in yours and mine, the backs that this country is really running upon. And with McCain, the Republicans are going to continue to sell a lot of the working class the rope to their own hanging.

Absolutely, well said. Hopefully, enough people feel like us to elect a president who will champion our causes and interests at the expense of those greedy bastards. It would make for a nice change.

I couldn't agree with you more. We need to cleanse the corruption and greed out of our government!

I agree with you. Americans need to have to face the reality of their situation and learn to live within their means.

But the "Obama's going to raise your taxes" is a GOP propaganda ploy. Unless you're a Corporation or the top 5% of the ladder you will not pay more taxes and your tax rate will probably drop.

40% of the National Debt is a result of the Bush tax cuts to Corporations and the top 5%. It's the equivalent of paying everything with credit cards and patting yourself on the back because you have money in the bank.

And, with all do respect, where exactly do you think that money that pays the salaries and health care and benefits for the Military comes from? Do you think that money falls from the heavens?

It comes from ME. From MY taxes. But that doesn't bother you a bit, does it?

The greatest danger to capitalism, is "unbridled" capitalism

FDR

Obviously appropriate here...

Sure we want "streamlined" markets, but the idea of corporations (that by their very nature are "greedy") completely regulating themselves, is like drivers giving each other tickets, with no policemen around. It doesn't work.

Just like that scenario, what you get is people dangerously souping up their cars, breaking laws, and everyone driving faster and faster, until..... a crash.

Then WE the people have to send out the ambulances to pick up the pieces, hospitalize the wounded and fix all the cars.

Much better to have some traffic law's and enforce them, than to clean up 799 car pileups like we are seeing now...

To be sure, there is some fault to go around, but this one has to go 97% (remember that number) to the republicans as they have been the champions of unbridled deregulation, and have systematically removed most of the controls that kept this from happening. Those rules had been in place starting in 1930 and were put there in the great depression (after the great crash) to stop this VERY thing.

97% is the percentage that John McCain has voted for deregulation in his 25 years. Phil Graham (the person that wrote his economic plan) is the KING of deregulation, and John actually voted for a BAN on regulations in the 90's. FYI, he would also like to deregulate health care, and Social Security, and has voted for both several times.

I see John McCain saying that he is for regulation, and jailing CEO's and firing the head of the SEC now...... but he certainly hasn't done that in his career, and he has voted for more regulation only once (that is why it isn't 100%) in the 8 year administration of George Bush. As per CNN, He even has an article advocating healthcare deregulation in a boring magazine out now (www contingencies org) and uses the success of "deregulation of banking" as the argument of why we should also deregulate health care..

OUCH!!! Guess the crash hadn't happened when that articlle was written.... and imagine bailing out the healthcare industry after this.... whew....

I absolutely don't buy that John McCain has all of a sudden changed from being a 25 year "de-regulator" into a "regulator" in one week... That just doesn't pass the smell test.

Bottom Line: This was caused by getting rid of a number of regulations that would clearly have stopped it. John McCain has voted out those regulations his entire carreer, and John McCain running from his deregulation voting record is like a leopard running from his spots.... Can't be done....

Ooops.. JD Rockefeller (not FDR)

For what it's worth, There are quite a few Americans out there who are responsible homeowners that can afford the homes they own... but the homes are now unfortunately worth 20-35% less than their mortgage. I would be one of those Americans. Despite my responsible acts, there are no less than 20 foreclosures in the neighborhoods around my house and they have brought the value of mine down tremendously. Am I not entitled to the same type of bailout that they are offering Wall Street? Why should I have to pay for the sins of my neighbor and people thousands of miles away making poor financial decisions? Or do I get screwed just because you think, somehow, that HELPING Americans is "Socialism" and something to be feared?

I have read many of these comments and the one I find most touching is from WilliF. I could not agree with you more! My husband and I saved for our home, was it the the large one the mortgage companies stated we could afford? NO! It was on that WE knew even if times got tough we could afford. No matter what party we stand for we all know that it was multiple levels involved in this failure. That includes individuals that thought they could just act in the "now" purchase large dream homes, then worry about the "later".....well Later!

There has to be some personal responsibility within this mess. I am not saying that it is all on the homeowners however it is disheartening that so many of these posts are about party lines and there is only a blip of mention here and there about personal responsibility. Do you think you can type a brilliantly worded comment, include multiple email fact checking sources, notch your IQ up a bit with throwing dates around but without also acknowledging ALL levels of this that you really looking at the whole issue? Just my opinion but I don't think so. I can honestly agree with a lot that has been said, but that was just one item I noticed was missing as well. By no means do I think that government has looked out for us, quite the contrary but we as citizens also have a responsibility for not living outside of our means to this level.

Amen to your comments. I also started at the bottom, living in rental dumps and working my way up until I had a sizable down payment and a fixed rate mortgage I could afford. Stevie Wonder could have seen this wreck coming. When did the American way become maxing out every line of credit you can get your greedy hands on? Living in America does not entitle you to a McMansion and a Hummer. Unfortunately, we are being governed by people from both parties who are operating on the "buy now, let your grand-kids pay for it" philosophy. Vote every incumbent out, establish term limits, and cut off special interest campaign financing. In the mean time, extend credit to only those (including our government) who have proved their ability to manage their incomes.

I agree with you. It is sad that this country is not what it use to be and the future of this country is very dim. Socialism is on the horizon. Politicians (not all) have their own hidden agendas. What significant changes have been made since this "new congress" took over? All their promises of what they were going to do in the first 100 days, what exactly was that anyway? Most people do not search for the truth, only go by what they hear. There is power in knowing truth, not perceive truth. Thank you so much for your service to our country. My one regret is that I listen to others and did not serve when I had the chance. No greater love can one man show than to put his/her life on the line so others can enjoy the privileges that we hold so near and dear to our hearts. Thanks

How many filibusters have ther been in the last 2 years by the minority party?? OVER 130! How can the Democrats fulfill their promises when the Republicans won't even let them vote?

A 60-40 majority in the Senate allows the Democrats to legally quash obstructionist filibusters and get our representatives back to work solving the extremely serious problems currently facing our nation.

I urge you to add your voice and your financial contributions to the following Senate campaigns where strong Democrats are facing vulnerable Republicans:
- Alaska: Mark Begich ()
- Colorado: Mark Udall ()
- Idaho: Larry LaRocco ()
- Louisiana: Mary Landrieu ()
- Minnesota: Al Franken ()
- Mississippi: Ronnie Musgrove ()
- Nebraska: Scott Kleeb ()
- New Hampshire: Jeanne Shaheen ()
- New Mexico: Tom Udall ()
- North Carolina: Kay Hagan ()
- Oregon: Jeff Merkley ()

Voting for these poeple will cause even more trouble. We have had two years of the lack of cooperation and obstructionism from the Democrats. It's time to throw them out NOW!

Fox is real news? LOL!!!!

Bush has been in power for 8 years. If he thought that what Clinton did in 1999 was so bad, why didn't he ever turn the decision around?

McCain has based his career on deregulation...until last Thursday...

I read the Fox news website to look at all sides. They have no problem making up lies. Not so much the news, but the Commentators should be regulated. They don't just "give their opinion" they LIE. And the problem is that most people can not distinguish between the news and the commentators.

Every person that has stated that "Obama is a Muslim" watches Fox. I went to their website. They have a bio on Obama that states that he's a Christian. But people don't READ. They listen to the lies.

For the good of the Nation Fox should compel their Commentators to stick with the facts or Fox should pull their shows off the air.

Graham...McCain's current side kick...is the one that wrote the law I thought even though it was while Clinton was in office...but here again, regardless, there is a such thing as "ABUSE OF PRIVILEGE" and there should have been safeguards in place.

Shar-468253 - You are a lifelong idiot who is voting for McCain. He and his buddies masterminded this fiasco...

This situation was all done under a Republican controlled congress not the Dems. Remember it was the Gramm-Leach-Bliley Act authored by Phil Gramm, you know McCain's bud, that made all this come to fruition.

Yes, Clinton signed off on them, but he was really in no position to fight against a veto proof Congress.

Fox News? Real? Bizarro World view

The problems all come from the easily-conned, idiots who believe that "Fox is the real news." There are far too many of these folks who have no mind of their own, and they continue to allow the republican mantra to flow from their lips. There are so many of them, in fact, that after receiving a mandate to be president from the Supreme Court in 2000, George W was still able to get re-elected in 2004 after starting a war for no reason and creating a debt from which the country may never recover. Cheyney and his buddies on Wall Street and in the energy companies will keep their hundred of millions of dollars and multitude of homes while the rest of of lose everything. Deregulation was the apple of their eye. It made them filthy rich, and they have no conscious.

Which is exactly why you cannot trust FOX NEWS. They lied to you again, wake up pal. Sorry, you can't pin it on the Democrats. I was a Republican at the time and remember it well. Banking deregulation goes all the way back to Reagan. Reagan also deregulated trucking, and airlines. It seemed like a good idea and actually worked very well for 25 years. Then a new generation of greedier, more destructive Wall Street Hucksters moved in. American attitudes are what brought this country to it's knees. Values have changed. The greatest generation (WWII) is long gone and a selfish and greedy one has taken over. I hate to say it but you don't change values in the middle of the stream, the only way America gets over this sickness is the birth of a new generation that sees the mistakes of its parents. 15-20 years at best.

I hate to say it, but I don't understand your thinking on this. Wow. Just, wow.

FOX News.... real??! :-O Holy snickerdoodles, if you believe that, I have a bridge I can sell you.... in ALASKA!! It's not finished yet, probably never will be, that's why we were thinking of pitching Sean Hannity to the other side... maybe you can go with him and he can report the "news" to your heart's content.

(shake my head)... mindless sheep, it's MADNESS!

Fox news is ENTERTAINMENT

What you forgot to mention that it was brought to Clinton by a Republican congress that could override a veto, so he pretty much had to sigh it.

You forgot to mention that the bill was brought to Clinton by a Republican Congress with the votes to override a veto, so ole Bill didn't really have much of a choice. So don't try to lay this on him.

I never thought of it like that - now that I think about it more, Clinton signed defense budgets too - so its HE that's responsible for our quagmire in Afghanistan and Iraq - yes it makes so much sense now. And of course the two years that those evil Dems were in control of Congress with him (pre Gin-grinch's contract on America) - don't forget them! Bill Clinton also met with JFK way back when... HMMMM. Sean Hannity, Mr. Impartial, should blow open this piece of journalism.

you are right! Up until that time you had to put down 20% on the loan before you could qualify. Over the past several years there was no money down.

FOX NEWS!? You have to be kidding!
I avoid FOX News like the plague.

I would agree... That is if you voted for Bush.

And if you vote for McCain, you had better plan on spending allot of time in front of that mirror....

I AGREE-ULTIMATELY THE ELECTORATE IS TO BLAME. WE PUT Reagan IN OFFICE IN 1980 AND HE IMMEDIATELY PAVED THE WAY FOR ANOTHER REPUBLICAN DISASTER-TOO MUCH BIG GOVERNMENT-TOO MUCH TAXES-TOO MUCH REGULATION-TOO MUCH SOCIAL WELFARE-HE RANTED. NOW WE HAVE OVER 400 AMERICAN BILLIONAIRES-330 OF THEM REGISTERED REPUBLICANS-ARE YOU ONE OF THEM ?

Just try not to BREAK the mirrors please, we've already had 7 years of unbelievable bad luck!!!

I've talked to about 20 republicans and independents that are voting for Obama. Given the cause of THIS problem AND the the debacle that has been the last 8 years...

That makes 21 of us....

I'm not voting for either one. There is more than two parties!

That is your right Pac, and at least you're THINKING for yourself. Good for you!

Amen!! Check out RonPaul.com and lets end this stranglehold the DEMS and REPUBS have on our lives and wellbeing. Funny thing is, most of america, does not own stocks or have any relationships with the brokerage banks. I am tired of the constant bickering and get nothing done work quality exhibited by our current government reps. We need viable alternative parties for REAL CHOICE!!! Be daring and vote outside the Democrats or Republicans!! Wake up sheep!

Who allowed the homeowners to get this loan. The Bankers, lenders and closers all allowed this to happen. If you give someone a loaded gun because they want to kill themselves, you go to jail. If you sell a loan that is based on a wish and a prayer, you get a big fat bonus check. That is why we are in this mess.

And they weren't planning on the corporate cartel sending their freaking jobs overseas either. Everyone wants to blame the working man that bought a house when it was the people flipping and buying them for investments that ate up a far larger portion of the trillion dollars we are on the hook for. There are only two kinds of people in this country. Those that work for wages or have a business ie. WORKERS and those that don't have to work and just invest. If you are voting with the investor class and you are a worker you are screwing your own kind. Your family as it were. The politicians use this against the workers to empty their pockets and the money they manage to save despite the increasing prices, lower wages, decreased number of 'decent' jobs. The republican/investor class wants things they way they were in the late 1800's when companies owned you. You lived in company towns bought everything from company stores etc. Serfdom. If thats what you want keep voting with the fat cats. The worker class people that have a bit of money feel they are above the fray. This is wrong however. Where do you think the fat cats will turn for money after they get all of ours? These people want it all and they want more than anyone else. No matter that they couldn't possibly spend all that money if they worked at it 24/7. If you dig long enough you'll find where each and every person is evaluated for their possible 'contribution' to the fat cars. There is a price hence the opposition to abortion. More bodies more money to steal. More bodies the less you have to pay for labor. To hear these godless people speak of human life makes me sick to my stomach. To them its just another body to exploit. The thing they don't want is for you to have a choice. Its too messy for them. Much easier to deal with complaint sheeple. Thats why your kids are getting a crappy education and why they push this self-esteem crap. Now companies are having to hire consultants to deal with these mentally crippled products of our educational system. Seems if these people don't get enough gold stars they go to pieces. So go on and vote with the very people that are making your life miserable. And when you are living 3rd world style try and remember all those fine speeches they made when they talked you into falling for their LIE.