[Halgr]

Please visit the source link and read the comments.

This will require a FReeper Response to appropriate congresscritters which are listed at the site.

[Halgr]

Ping

[Degaston]

The taxpayers do not have to bailout these banks. There is already a program in place to keep the financial markets afloat with liquidity. It’s called the free market. And who should be paying will be those who took on the most risk .... the shareholders first and then the senior bondholders ......

I will never vote for any politician who does bailouts.

[abigailsmybaby]

Geezus. Government with it's fingers in everything. The gift that keeps on giving. Is there any way to cut those fingers off? If it's not one thing it's another. The sh!t never even lets up let alone ends.

Yet another fight to be had with congress.

[11th_VA]

This issue hit home when my neighbor of 2 1/2 years packed up and left this weekend - just walked away from his 450K home(he owes 550k).

The problem with the solution offered is some loans have payments 'less' than the interest, and the interest difference is added to the principle each month. The priciple never decreases.

In the industry, these are called Neutron Bomb Loans - after three years, the people are gone, but the house is still standing ...