Today's hearings: Paulson & Bernanke

[c w d]

Paulson:
(paraphrased)
Taxpayers got put on the hook by the system in place.

Don't need oversight.

Don't need transparency.

We can talk about reform later, we need bailout now.

Those homes owners that can afford to stay in their homes can stay and get help. Those that can't, can't and won't get help.

Bernanke:
(paraphrased)
The housing correction is the root cause of the current crisis.

Stabilize housing market.

*****************

Un-*%($*^%-believable! No additional oversight or transparency. No reform. Just give us our %&*$(%! money. That's what is being said. And the financial crisis is due to a housing correction. Not one congressman asked why there was a housing correction....not that it would be answered honestly but at least we could hear Paulson and Bernanke hym and haw as they lie their way through an answer or deflect it entirely. Can we not see what is happening here? Business as usual. Take the money and run. And this is why this bailout isn't going to do anything but prolong the inevitable, probably just until after the elections. Either our congressmen/women are too stupid to see it or they're too corrupt to care. I don't know which but both spells bad, long times ahead. And there isn't going to be any help to the American people. No, we're being told right now that we're going to take it up the @#$.

Question: If the problem is the housing correction, then wouldn't the most effective method be to assist homeowners to pay their mortgages? Wouldn't that turn around the balance sheets and improve lender's abilities to lend money? Wouldn't that prop up the market sufficiently to stop the drop in housing prices if people weren't being forced to sell their homes for less than they owe on them?

 

[c w d]

Now Paulson is saying we need oversight and transparency....after some questioning from congressmen about smaller bailout amounts.

 

[Mike Kennedy]

"wouldn't the most effective method be to assist homeowners to pay their mortgages?"

In Russia, Cuba, and China sure.

 

[c w d]

"wouldn't the most effective method be to assist homeowners to pay their mortgages?"

In Russia, Cuba, and China sure.

...trying to understand your thinking here....so......if we bailout the corporations that's capitalism? If we bailout the people that's communism? So what you're advocating IS business as usual....keep doing the same thing expecting different results....Isn't that a definition for insanity?

 

[Terrel L. Shields]

Shoot the bankers. Tax golden parachutes at 99%. Fire Paulson, Bernanke, Cox. Restore Glass-Stegall. Abolish stock options as part of compensation. Re-regulate the banks and cap financial CEO compensation to $500,000. Considering what happened how could they be worth more?

The events of last week prove we are a socialist nation. Rather than communists, we have a confiscatory policy similar to Nazi Germany where the state did not run the economy but picked and subsidized the private companies that did.

 

[JENIFFERW]

Paying our mortgages

Question: If the problem is the housing correction, then wouldn't the most effective method be to assist homeowners to pay their mortgages? Wouldn't that turn around the balance sheets and improve lender's abilities to lend money? Wouldn't that prop up the market sufficiently to stop the drop in housing prices if people weren't being forced to sell their homes for less than they owe on them?

Not that I agree with their plan, but they already did send millions of people about $300 - $1,500 as a part of the brilliant stimulus package, right? Another wonderful plan that accomplished nothing except more debt. How long did it take to get the checks sent out? Wasn't it about 3 months or so? By then, you're already probably being foreclosed on, and that was pretty fast for the government. What about the next month's payment, and the next month's? If you can't afford the payment, and the value of the house is less than you owe, helping with a payment, or 2 or 3 won't work.

 

[SRQCUB]

Bailing out other countries banks, bailing out American enties that invested overseas.

This is getting silly!

I did like Shelby from AL

 

[Karl]

Probablly be cheaper to send every family That paid Taxes from 2004 till present a Million per family, think how much would be returned to the economy. Okay for those that disagree & need a serrlement for everyone to be happy, make it a 100 grand per Tax paying Family.