Once the banks have the bailout....YOU are next...

[LeftHander]

They will come to you for their profit...as the Repukes changed the bankruptcy laws to be more in line with personal responsibility ownership society.

People will be paying for lost homes, foreclosed and sold for decades to come.

[GetTheRightVote]

1. No Bailout for the Fat Cats.

:grr:

[GetTheRightVote]

2. No Bailout for the Fat Cats.

:grr:

[ixion]

3. just one of the reasons I don't support a bailout

banks wouldn't even consider reciprocating.

[snappyturtle]

4. Yesterday afternoon NPR reported that for every 30 home owners

who went to their banks to seek relief, re-write, lower interest whatever, only 1 got any help. That is what just doesn't make sense. Why would a bank rather have mortgage default than saving their investment by working with the owner?

[tazkcmo]

5. yes

They don't care.

[AndyA]

7. This is exactly right.

Banks don't HAVE TO raise interest rates, mortgage payments, or foreclose on owners. BUT THEY DO. And when they do, they know most often that the mortgage will become a bad debt that isn't collectible.

It makes no sense to me whatsoever. They take a homeowner, who has been making $1,000/month payments, and raise their interest rates and monthly payment to a point where that homeowner can no longer pay it. Then, when the homeowner defaults, they foreclose which costs money, and they get NOTHING.

The industry is responsible for this mess, and they want the tax payers, the same people they've been abusing, to bail their sorry asses out.

Forget it.

[snappyturtle]

8. The banking industry handled mortgages like the "Old Maid"

children's card game. Just pass it on and let someone else get stuck with it!

They gamed the system until it broke and are most likely figuring out a new game, as we speak, while awaiting the bailout. Evil is as evil does.

[Union Thug]

6. Ask me about a repoed car. I can't imagine dealing with

a repoed house!

Car is auctioned off - who gets handed the bill for the differential between money owed and money recovered?

Have fun everyone. The bankruptcy bill was one of the great lost battles of the class war.