Ugh

[wraithfodder]

Just watched the Presidential address.

So? What? Elmo from Sesame Street wasn't available to give this Dummies Guide to financial disaster? Amazing how Bush didn't say "Greed" or "government incompetennce" once...

Grrr, sorry, but the whole mess is a result of greed, simple as that.

Comments

[cat-77.livejournal.com]

I work for the Bankruptcy department for a major bank (not one of the ones involved), and am getting flak at work for saying the banks should take care of themselves. They got themselves into it, they need to get out of it or go down trying. The law requires our debtors to do so, why should these businesses be outside the law? Yes, it's going to suck. No, it's not going to be easy. But you know what? It's the law.

This may, possibly, be why I probably won't be up for a promotion any time soon...

[wraithfodder.livejournal.com]

Alas, if I overextend my credit card, no one is going to bail me out, so why are my tax dollars (and more probably) going to bail out financial people, mortgage brokers, etc. who tweaked the rules for their own gain? Sigh...

[cat-77.livejournal.com]

We offer our debtors discounts, bringing the costs down to fair market value and rates to make things easier to handle for them but still keep the loan for us. Everything else? We follow the law as Congress rewrote it only two short years ago. I could see some fanangling done to lessen the impact of the debt on the banks, provide payout or payback options, but this? No.

[reedfem.livejournal.com]

I'm with you.