Wyliedog

Applauding Hank: Treasury Secretary Rejects Keynesian Mortgage Bailout

For most of the "Commentors" - Ignorance is bliss. They obviously don't know how far reaching the "Mortgage Meltdown" is. Man I wish I could walk out on all my finiancial responsiblilities, I would consider it a "Rational Response" and it would definitely be "Worth It".

Do any of you realize that, because John & Jane Doe decided to "walk out" on their financial responsibility, high school grad Jimmy with promising aspirations and a middle class family income will not be able to go to college because there will be no money to lend him for a student loan? It's already happening in Michigan.

You cry at a bailout because you think that means you, the tax payer, will have to pay for this mess? Make no mistake about it - you WILL end upaying for it, one way or another! Obama and Clinton scare me also.

Don't get me wrong, I think ALL the perpetrators should be held accountable. The borrowers (who didn't bother looking a gift horse in the mouth) who knew they couldn't afford that much house. The borrowees (who were too busy making their cut by signing people up) who knew the borrowers couldn't afford that much house. The players on Wallstreet, who bought the loan packages, made their cut and resold them as fast as they could because they knew how risky they were.

I don't think any one person has the answer - it's far too complicated, they can't even figure out who owns which loan. I have a feeling there will be a restructuring of the whole mortgage industry and the way the loan packages are put together and sold off.

As for the article it's hard to believe ANYTHING that Bush, Bernanke and Paulson say.