Who is the Federal Government these days? Is it any of us?

Taxpayers "bail out" Wall Street

Wall Street should not of loaned to high risk, bad credit, applicants! Blame Wall Street!

Government "entitled" bad credit applicants. Blame government.

Crooks, run America, the hard working tax payer has NO CHANCE.

America is a failed country, on her last breaths.

Your statement that the government entitled bad credit applicants is only correct if you are talking about the mortgage brokers. It is a complete misnomer that a govt mandate forced lending institutions to give loans to anyone who failed to qualify. This was a bill signed by Ronald Reagan, encouraging neighborhood institutions to consider local applicants without jeopardizing "good banking practices". Read it. I tell you no lies.

The homeowners are victims of this mess. We are sitting in homes we can never sell our incomes have been cut in half and we are the bad guys? The banks are coming out smelling like rose's I've seen them flip homes, do lock outs before the home was even repoed and ignore modification request. I had $200,000 equity in investment property I could never sell. How am I the bad guy? That was my retirement I put money into I rented for years and fixed-up rented fixed etc.... I had one home for 15 years. I didn't have credit cards or other loans. I didn't buy my self lots of stuff, I was carefully planing out my retirement. How dare anyone blame the homeowners. I could have sold my property's and been out of this mess if the banks didn't refuse to give out loans when they did. The government forced the banks to give out bad loans and the rest of us are being categorize as loosers who made bad choices for being investors right along side the people who should not have been given loans in the first place. And no one cares.

One more thing the person who made this comment "If homeowners would pay the house payment they agreed to pay, there would be no foreclosures. For those of us that pay our bills - were safe" This mortgage crisis has caused many people to lose their jobs and business's so before you start acting all high and mighty get your facts straight.

Okay, so it was YOUR fault...I recant my personal guilt.

No! it's not his or her fault. they saw it for what it really was. they're being honest for a change.

They won't sweat, they've already got it all stashed.

Stashed? Obama's stash? Not by the looks of the stock market today. I think this is a big story just starting. I think there will be plenty sweating and squirming.

Why should anyone pay a mortgage which was sold and re-sold until nobody could show who owned it? When Title Insurance can't be written - things tend to STOP.

You realize, of course, that all the people you are yelling at are also homeowners...I guess you could rationalize the statement is actually a veiled admission of guilt.

i yell and i'll yell some m ore till these idiots stop making the almighty dollar their god.because right now as it stands these people are taking this country down, and making us a laughing around this earth. wake up!

jo-ann who created this mess the homeowners? anbody in economics 101 knows that, you don't lend money to somebody who can't pay it back.the normal thing to do is check their income not hand them a no doc loan and expect to say them to say no,that excuse is getting old old old. you dangle a chicken in front pof a starving person what in the hell does anybody thing they're going to do.
now that we're in this mess that nobody really knows how to getbout of.the money worshippers are starting to point fingers.well if that's the case let these idiot start with themselves.

oh and Sarcasticus 1, i cleaned my own mess up i have nothing to feel guilty about. i'm pissed off a financial idiots who brough this country to the level it is now, all in the name of GREED. a round of applause and let's thank them for that, shall we?

I hear ya Gloria....Banks and bankers are nothing but a bunch of rapacious profiteers. A federal law should be passed that will not allow banks to charge more than 2% for any type of loan.

I am so for you Gloria...I got laid off back in 2006 and I swear the next month the market went to hell. We had soo many loans that would close and when we would try to sell the loan to a bigger bank come to find out the broker gave us bogus documentation. We're talking loans of $500k+ and up. They're all damn greedy. I'm sorry but how is it a home owners fault?! If you can afford a pmt that is a quarter of your monthly income and your debt to income ratio won't put you in a bind, they'll give you the loan with the right credit score and with or without money down. Its a bunch of bs...try to blame the homeowner. Now if the homeowner has a gambling habit then blame the homeowner, but if their income got reduced and they fall behind or have to rob Peter to pay Paul, it is sooo not their fault. You buy a home because its an american dream to have your own home, a nice house to raise your family in....these money hungry vultures just got greedy and now watch they're all going to get caught....Karma is a female dog and she's coming after you watch and see!!!!

thanks guys i appreciate it. something is going to break, it has too.

Blame the banks for opening the door for loose mortgage rules that enabled millions of borrowers to obtain loans on even poor credit and no down payment.

i saw a depression recession coming in at the end of 2006. it's along story i won't go into it. i knew something was radically way back then.

joanne you're right and it's not going to be pretty. people better get the hint thaty's why wall street is starting to point fingerings.

reduced and they fall behind or have to rob Peter to pay Paul, it is sooo not their fault.

Sorry but failing to pay your agreed debt is the debaters fault. They are gambling that they will be able to pay it for 15-45 years.Yes the Banks and loan officers were Very stupid for loaning 500,000 to someone making 10.50 an hour. But the person signed it and they signed that they understood it. So I have no sympathy for the banks also they gambled also. Debt = RISK

@gloria, we are on our way to another depression.

You have no clue what the depression really was do you? We are so not even close to being that bad. Their are jobs out their I see the signs. The question is are the people ready for the jobs? I don't think so because people are lazy I work my but off for my pay and as soon as the last of my debt is paid off it will start working for me. But you can't draw any parallels to the American depression save the fact that at both times Americans had very high debt. We are not even close to a third world country.

i saw a depression recession coming in at the end of 2006.

Who couldn't You can't sustain this level of debt. in 2004 My parents got an ARM I told them not to but they didn't lesion now they lost the home. They thought It would increase in value I told them It my but it is not guaranteed. I said look at our old place we bought it for 89K had it for ten years and put in it 30,000 in renovations and it sold for 88K. They are the same people that have gone bankrupted three times wiping out 30K in card debt each time.

Auto 101 you have no idea what a depression is either.i do,and my old man went through it in the 1930's lost his company. he use to tell me stories and i'd look at him like he had 2 heads.now i understand.you don't.you may be good with the figures and lecturing, but you really don't understand a depression. some people may have seen a recession comming in 2006,but very very few. the majority were too busy inn their teeny tiny worlds of whatever, or whereever. .

so don't tell me that we are not on the brink of a depression,if this country doesn't get it's act together SOON that's EXACTLY WHERE IT'S GOING.those jobs you see i don't see them, not in my areas and don't think people in my area don't want to work. you must be on another planet.perhaps you're noticing the holiday help. well if that's the case, holiday help isn't a permanent job.maybe you live in texas or one of the few states that are still thriving.again not in the real world.there's whole other country out there surrounding you.people like you don't know how to face reality.you're good at talking, bragging about your accomplishments, and lecturing but that's about it.

The people who write automobile loans to the exact same thing.

I may not have experienced it but I have talked extensively to both my grandfathers about it the on that is passed told my he would collect cans so he could get is favorite cereal saltines crackers and milk his father left them him ind his six brothers and sisters because they would not work. he lost his three dry cleaning shops. My other grand father grew up in a very poor condition they don't have any photos of them as children because the were two poor one of his brothers became a multi-millionaire. I understand better than most on what the depression really meant and the sacrifices those that went through it faced I find it interesting that their depression foods is something they really love even to this day.

Oink-oink? Translated: I'm just an average home owner not wanting the rest of the world to hate me.

Sarcasticus...When was the last time you were allowed to approve your own loan? People like you with your bash the home buyer attitude need a clue ...big time.

What you people don't want to admit is that no one who tries to get ANY loan gets to approve it. The proof of that is how many wealthy people are having problems getting banks to give them loans. So, if banks are saying "No" now that Obama has cleaned up their CDO and Derivatives games, why not before banks approved loans they knew had 99% chance to fail?

I'll tell you why not...these skanko-bankos were betting the mortgages would fail. No sweat off their greedy noses. First they get to collect a downpayment..nice and juicy and then they get a year or two of mortgage payments until that first round of interest on ARMs double mortgage payments. All in the fine print of course. Still not a bead of sweat off those greedy pig noses. When you have big time bets they'll fail and you collect billions from the foreclosures, why not?

Now...if you need proof, there's a book all about what Goldman Sachs did to home buyers whose homes they approved using what they called "synthetic" marketing techniques..It's Call The Peril and the Power...don't recall the author's name just now.

Read it before you bash at home buyer. The stink of these pig stys on Wall Street is enough to choke off our air supply.

Foo Bar...Do you want to know the real reason why they had such a mortgaging feeding frenzy? Look at the banks Goldman Sachs took out...Merrill Lynch, Bear Stearns and then even AIG, an arm of Goldman Sachs took a hit. Goldman Sachs is a lying bunch of cretons who belong in jail. But, they walk around whiffy twiffy like the gods of money they think they are. Now that they got what they wanted, they are doing just fine without our help. That's why Blankfein hasn't a wrinkle in his brow now that he got his fat bonus and salary increase this past month.

Piggy little man that one.

Right on target...!!!

Damn straight Mike and its all those greedy brokers, account executives, realtors, agents that made the banks believe some of these homeowners could afford these homes too...I should know I used to work in this business and had soo many loans after they closed that doing a quality control audit fraudulent info was given. Damn greedy bastards...they got their nice paychecks but screw everyone else that got screwed over...Karma is coming for them now...

Agreed!! The broker/bank/exec's WILL get their bite on the butt sooner or later!! We lost our house just before the economy dropped, and I don't blame the lender. I take responsibility for it. The mortgage broker "helped" us get into a house that we could afford for the first 3 years, then the rate adjusted and POW!! The bank wouldn't help refinance or change terms... we didn't qualify! So, yes, homeowners need to take responsibility, but what happens when that homeowner has a hardship or a loss of job??? Can't pay all the bills on unemployment! The 'fat cats' need to wake up and realize that most people don't want to loose their homes. They want to pay their bills.

The quote from Anton Schutz is heartwarming considering he is a former Chase executive. He is in part responsible for the poorly constructed financial vehicles that led to this mess and is quick to criticize only one side of the equation. I truly enjoy that our tax dollars have been spent to save the financial institutions that keep him and his well heeled clients wealthy. You're welcome Anton and I bow to your wealthy logic!

"Everyone's responsible for following the law. If we all don't have to pa.y our mortgage, should we just stop paying taxes, too?" said Anton Schutz, president of Mendon Capital Advisers. "Your mortgage didn't get to a robo-signer by accident, it's because you're not paying."

He says it himself "...eveyone's responsible for following the law..." lol I'm sure the feds will be all over the "robo signers"...big money has been unregulated for most of the 20th and 21st century...they've given us Enron...investment firms that don't invest money...demands for taxpayer money to bail out the wealthy...exported manufacturing jobs out of the country as quickly as possible (all the while blaming the american worker for wanting such niceties as health care and a living wage...hey wait...if you don't have a job you can't pay a mortgage! damn your irresponsible working class asses!)

Let me know where I can send my last dollars Anton...I'm tired of the charade of funneling money to Washington and then to Wall Street Investment firms and banks via bailouts...Lets cut out the middle men and make sure you get yours!

mike...These are the same banks that are part of the hundred trillions they drove up in derivatives. They knew these ARMs were bad business and they pushed them anyway. I warned one of my friends not to go that route. But two words from the snake with the big eyes on that mortgage commission talked her into it anyway. Fortunately, she saw what happened not more than a year into the mortgage and sold the place.

No matter what anyone says, if fine print requires a microscope to read or is written in mortgagerese, you can be an expert and still be trapped by these car dealers in banker suits.

That is exactly what they are doing...............

I did see one of my friends home taken by Chase that way and they locked her out before the default was even filed and flipped the house.

Sherry Casey...The smart homeowner can tie a real knot in those foreclosures...by paying the property taxes so that no one can touch the property. If the property taxes are up to date, the banks aren't the ones making tax payments...the owners are.

This is one of the things both the local government and the mortgaging banks don't want you to know. I only found this out when a really old home in our town was nearly in ruins after being empty for more than 3 decades. But neither the town nor the bank could do a thing about it because the property taxes and sewer and water bills were paid. So, in effect, this homeowner took off, left the house empty and continued to pay taxes while sticking it to the mortgage company.

The Truth...You want some truth? Who gave Goldman Sachs the approval to go ahead with loans they knew were going to fail?

How dare you blame Franks for the greed of the Goldman Sachs and Morgan Stanley pigs? By the way, your boy Bush added 5...count 'em ...5 Goldman Sachs foxes to the Federal Reserve henhouse...So you bet these banks were primed for lots of collusion and "connection". This is the same reason Madoff got away with his "American Dream" "Capitalism" and "Free Enterprise"....lots and lots of friends in high places who looked the other way for 17 years.

Boid12003 - It wasn't the taxpayer getting into debt that burdened the banks. You need to get a little more educated on the financial instrument known as the derivative, and how it was used by the mortgage brokers. Then you will understand how the financial world, which include Wall Street, big bank's and investment firms (and don't forget to include those that failed) burdened itself, along with the entire economy. And while the financial world was bailed out by the Federal Government, to the tune of $400 billion, the individuals that lost their incomes, savings and retirement investments, because of this fiasco, are expected to resume their daily lives as though nothing ever happened. It's time for those individuals to get some relief from this disaster. The financial world needs to get a perspective, and start participating in something beneficial.

you know what boid1203 I'd like to give you a scenario to chew on... In a country (How about the U.S) where hundreds of thousands of people are losing their jobs because people aren't buying products like they used to due to that fact that all of their money is going into their house... a house mind you that is out of their budget, yet sold to them anyway to generate a larger profit for the mortgage companies. Now not only can the people that are still employed barely make ends meet, but the hundreds of thousands of people out of a job can no longer make their mortgage payments (considering that the average unemployment check is under 2,000 a month). No jobs, no one paying their mortgage, 400+ billion dollars in (taxpayer) bailout money to keep the banks afloatall thanks to bad loans written by money hungry mortgage lenders. You tell me who is really to blame here?

boid1203...Would that it was all that simplified...You need to connect the dots. It starts in your own little town when your zoning and planning boards give license to land developers with big bucks to build substandard houses they sell for ten times their actual value. Next comes Mr. Got Rocks Mortgage banker who smell home buyer blood. So, he does the double talking, snake oil salesman routine and glosses over what he knows a home buyer doesn't all in the hope that their ignorance will result in huge commissions he can't earn honestly. Then you add in the real estate agent who wants 10% of the selling value for her/his commission and there you have it. A pig roast of a home buyer lickety split.

I agree with you to a large extent Shmerlin. One would think that an individual preparing to take on a $100K, $200K, $300K+ loan would analyze their finances VERY closely before signing a binding contract for such a large amount of money. (Excluding anyone who lost their job)

That said, I went to see a mortgage lender recently who advised (all while smiling) that I could afford a loan that would require monthly payments at 70-80% of my net income. Thankfully, I was able to quickly assess how full of it this person was and walk out the door. The vast majority of people are willing to believe a lender is an "expert" in their field and will trust his or her judgment at face value, though.

well....DUH. when you go to buy a house... (for most people under 35) your first. obviously you would tend to rely on the lender as an "expert" who else are you going to go to for the facts? I mean come on, the average person is not a financial analyst (nor can they afford a credible one)so they are trusting that someone who helps people get into a home for a living has some sort of significant understanding ofwhat you can or can't afford. you don't nesecarly go into the situation thinking that you're going to get swindled for as much as possible like some sort of cheap used car lot... Your comment is only relevant to people that have bought a house before and should have an understanding of what they should or shouldn't do based on PREVIOUS EXPERIENCE! but then again those arent the people that need fanny mae or freddie mac are they!?

your first. obviously you would tend to rely on the lender as an "expert" who else are you going to go to for the facts?

IT is called study something that is lost on most collage kids that just cheat(not all cheat, most do have bad study habits).

I should add that while I'm under 35, I find it very difficult to identify w/ the rest of "my" "me now" generation. My wife and I bought our home we looked at what we could afford if one of us lost our job. When we bough our house, like Bill, we were "qualified" for a house that would have cost about 60% of our combined income. We chose to get a house that needed a little bit of work but that we could afford a bit more comfortably.

Schmerlin ...How ...How ...How...do you dare utter those words "personal responsibility" when you know that the banks are like snake oil salesmen? Most people who buy homes do so believing they are dealing with honest businessmen...not white collar criminals.

Those ARMs were set up so that people would not know that the increase in the rate of interest on their loan would triple or quintuple when the Federal Reserve Goldman Sachs boys had their Personally Irresponsible hands on the steering wheel.

It takes real nerve to blame people who expect honesty and get skanko-banko greedheaded pigs.

SmarterThanYou...Even if you didn't rely on the mortgaging bankers to be "experts", you still are at the mercy of what they are offering. Only a mind reader can know the filthy little tricks theses skanks play with their customers.

I'll give you an example. You know how when you have a loan, after couple of years the originating bank sells it to another bank? Well, guess what? Now, when the second, third or fourth bank get their syrupy mitts on your loan...none of which you have a say in by the way, they are allowed to attached their individual bank's rules to your loan and they don't need you to agree to it.

I have a very small loan. When the originating bank handed it off to IBM (yes...IBM is now in the business of bank loans if you can believe that), discovered they were slapping on an additional $250 a year as a fee for the fact that I pay the property taxes with the loan payment. I called them and got a stupid ass on the phone who sounded like she was 16 trying to intimidate me and when I asked to speak to the manager, he got all huffy because he knew I had every right to challenge this additional fee which was an increase on my regular monthly payment of more than $25 a month over 10 months of the payments.

See? Skanks.

Bingo Bingo and Exactly

Bingo Bingo and Exactly

SonsofLiberty...What they want is this country on its knees. Then, the brown shirts with dollars signs in their eyes will tell you when to go to the bathroom and hand you one ply only of Charmin.

mlk119...Yes...that's why Citibank's ass is in a sling right now...Their mortgage processors never even read the mortage paperwork. They just signed their approval on them. And why not? How else can a lot of the fine print be implemented?

I couldn't agree more with your analysis of the whole mess!We just finished going through the whole refi process because interest rates had dropped so low. We both have excellent credit scores, more than sufficient income for the home we are in and almost weren't able to close the deal. Why? Because our home appraised for a lot less than it did 2 years ago! PATHETIC. Although I will say according to the city and county tax assessor and my tax bill, my home does nothing but increase in value. GO FIGURE! According to this NEW appraisal we lost about 40K in equity that we had put into the house when we bought it. Good thing we plan on staying here for a long time.

Take your appraisal to your tax asssessor and request that your taxes be readjusted. It is your right!

Good Luck

Great analogy with the fruit, jcp1. Just goes to show how much of a part common sense played in this whole process...

DisappointedinTexas...My state, NJ, is going through a huge number of people who are demanding their property taxes be reassessed because they want to get out of the state and can't sell at a remotely reasonable price. A lot of NJ homes have already lost more than half their value.

You know when a Princeton rich boy buys a home in 2000 for $2 million and now it won't even sell for $650,000 that it's time for a taxpayer revolt. Princeton is likely one of the wealthiest areas of NJ and homes are taking a beating. So, you get stuck in a home with a mortgage and property taxes that are out of control and all because the value of your home has dropped and you want out but there's no escape hatch.

The joke is that home values affect property tax assessments and if the home is worth less, the property taxes should be decreased. But, that's not what's happening in NJ.

liberalblue...Question: Is there a reason that interest rates on home loans skyrocketed so suddenly in the 1990 and early 2000? Some were up to 13%. So, figure it out for yourself. If you have the money to buy a home and the 15% downpayment but the interest rate goes up to 13% at time of purchase, that means the house you buy will cost twice what the selling price is.

thank you John W in Va.says it all!

Absolutely!! (purse) string up the ones who are guilty and set them straight that consumers are the ones that pay their salaries! Like JCP1 said, 75-80% of homeowners were qualified and the industry failed us. Not the other way around!

It is a relief to see that many are doing their homework and seeing throught the BS that Wallstreet is giving the media!
I agree with Gloria 100%!!! GREED is destroying America!
If anyone votes for Carly Fiorino or Meg Whitman, we are in for a hell of a miss! These two women are greedy to the core and do not give a damn about anyone! It is absolutely true that Carly layed off over 30,000 workers, and so did Mark Hurd!! And they both were making enough money to pay for 600 workers at $50,000 a year!!! How many of these people lost their homes,retirement savings, and future college tuition??? Why doesn't the government put a stop to the outrageous compensations these corporate execs and Wall Street greeders are making???
Why did the government allow derivatives to occur? Because the ones elected by Pres Bush to run the US Treasury were ex-Goldman Sach's wallstreet tyrants! That's why!! He elected 30 of them to work under his leadership. No wonder the economy went to hell by the time Osama came into office, jobs were lost, banks were bailed out, retirements and medical savings lost! Yes Wallstreet knows exactly what they are doing.. putting money in their own private jets, islands, vacations, yachts, properties, etc.... While us who helped these large corporations grow get layed off and are treated like pee-ons!

I agree with Gloria 100%!!! GREED is destroying America!

So you are agenst greed then get rid of your car, your computer, your TV, Your phone, Your health care, Your I-POD, your Dog, Your Cat,Your pig, Your bird,Your fish tank, Live on rice and beans, and give what ever you have left over to some one who needs It or will you let your greed of a Privileged life style be the excuse that so many people die in poor countries. You could save hundreds of people by giving up you greedy privileged life.

a car is a necessity. a computer if your in busioness or, even at home has become a necessity.GREED IS DESTROYING AMERICA.you better get that through your thick pompas skull. all the items you named above have nothing to do with greed.

this is the country we live in people who have these things also are also very generous people, caring and giving. they are lucky to be able to live like this. yes it is a privilege. however you forget one thing. it is aprivilege that many many of them worked extremely hard to achieve, and not by being greedy. you left that little point out.

i'll say it again your good had spouting alot of hot air but that's about it.in reality you don't know what the hell your talking about.

So you are agenst greed then get rid of your car, your computer, your TV, Your phone, Your health care, Your I-POD, your Dog, Your Cat,Your pig, Your bird,Your fish tank, Live on rice and beans, and give what ever you have left over to some one who needs It or will you let your greed of a Privileged life style be the excuse that so many people die in poor countries. You could save hundreds of people by giving up you greedy privileged life.

Auto 101 you must be under the age of 25 cause you sure as hell don't know what you are talking about....as Gloria said a car, phone, health care are necessities...having an iPod, tv, computer, etc are not necessities though are earned through hard work. Having luxuries in your life has nothing to do with what's going on with these foreclosures...these agents, brokers, etc causing people to get approved and with bogus information is what started this whole mess. THAT'S GREED...LYING TO HELP SOMEONE CLOSE THEIR LOAN KNOWING DAMN WELL THEY CAN'T AFFORD THE PAYMENT ONLY TO JUST COLLECT THAT EXTRA BONUS CHECK FOR CLOSING AS MANY LOANS AS THEY CAN.

Oh, and just an fyi...next time you want to post something, please do a spell check as well as correct your punctuation...you actually learn that in English 101 =o)

MizChaz,excellent post!

I actually do use spell check have you noticed the glitch in it that will cause words to run together. I graduated high school with a high 3.0 and had a third grad level in reading and spelling the reading was easy to improve how ever the spelling and grammar has been much more of a challenge. it has not prevented me from being one of the top Auto technician in this country. I love it when I correct the engineer who brings his car in to get is repaired. so I may not type well But I can still get a job any wear in the country the last one I got last year was because my wife was relocated to and area with unemployment of 9.5-10% depending on when you check I got my job in 4 hours of looking. so jobs are out their but for some fields their is to many people hunting for that type of job.

Greed is what drives you to get paid for what you do. It is what drives people to take a chance to build a business. it is what makes you want to make more and ask for a raise. if not you can move to a Zionistic community I can't live that way. So I work to get out of my foolish debt. which is the very thing that is droving this downturn too much debt. This is they type of debt that if you add it up you will look around and ask where did it go? Many big business are brought to their knees because of it. Most of the successful car dealers are run debt free.

Now the wrong type of greed is what is destroying out country It is the type that people need to control you can make what laws you want these people will still brake the laws and find ways around them.

you actually learn that in English 101 =o)

Topical liberal you want to limit everyone view point but your view point. I am glad I refuse to be of any party. and FYI I'm 29 However age means nothing because I see many Older people to close minded on what to do. The regulation will help prevent a bubble from reforming but it will slow the recovery.

THAT'S GREED...LYING TO HELP SOMEONE CLOSE THEIR LOAN KNOWING DAMN WELL THEY CAN'T AFFORD THE PAYMENT ONLY TO JUST COLLECT THAT EXTRA BONUS CHECK FOR CLOSING AS MANY LOANS AS THEY CAN.

This is only one form of Greed. To a third world country You are very greedy.

wdell Auto101, we're not a third world country.you don't know what we are to a 3rd world country. that's tyour perception. ig they think were sdo greedy then why do they bust their ass to get into this country.nope your definition on greed and third world countries is skewed.

oh and no, greed isn't what drives you to get paid for what you do. survival is what drives to get payed for what you do. again a skewed interpretation .

I'm sorry (Auto 101) I see what you want to say but your wrong on this point. Working for what you have is not Greed. Screwing someone over to get what you have is Greed.

As for Grammar I wish people would stop mentioning this when they see errors it's besides the point and is only meant to degrade the person in the conversation, we don't need to go there. Who really cares it's the subject that matters. We all know our schools have failed our country and most of us are uneducated that doesn't make them stupid.

P.S. I agree with John and Gloria. I just don't like to see fighting in discussions it disrupts the whole topic. And brings it down to a level of Grade School.

Diana....Thank you. I couldn't believe what I read in Auto101's post. Is this the Greed is Good Mentality that is overtaking decent, honest Americans?

fedupinAZ..The gross influence of business in government is the result of allowing all that "privatization" to for profit Biggie Piggies. We lost billions to Biggie Piggies in Iraq. Can't unring that bell can we?

The minute you allow anyone from a for profit business to do government work, you no longer have a government...it's a business.

As for Wall Street, our bones are blanched white from them picking us over down to marrow. Now, watch them cannibalize each other.

Kiki, not everyone is money smart. Some people couldn't manage money if their lives depended on it. Trust me, I work for a tax and bookkeeping office. I SEE people who are just plain BAD with money. It is the Banks responsibility to explain to these people that they can't afford it, instead of handing them a loan that the Bank KNOWS they can't afford.

Kiki...Clearly, you've never encountered a fast-talking car dealer? I agree people should educate themselves about money. But it isn't just a matter of education, it's a matter of refusing to be intimidated into avoiding asking questions before Mr. Fast Talker hurries you through the process. All he cares about is his commission. Sadly, today there are NO honest businessmen. Greed is Good mentality is the reason for this mess. I work with a lot of vendors and I can tell you how fast they can talk when they don't want you to ask questions.

mikebald...There is a way out of this mess. But those who have grown all too accustomed to privilege and big money are not about to do an "about face" just for the sake of righteousnous. What did my parents do when banks nearly divested them of their life savings during the Great Depression? They bought gold, silver and refused to put money into a bank for a long, long time. Unfortunately, the banks don't need us. They only need each other now. That's how ridiculous our banking laws have become.

But what banks and Wall Street do need is to take a flying leap out of skyscraper when we stop being their crash landing pad. In the words of a famous Republican, "just say NO!". That means living with a little austerity that will be the only revenge we can exact on these shrewd little demons. There is one word they fear most: "DEFLATION".