How To Solve the Financial Crisis

BPB, You are correct; the government has now transformed our economy from capitalism to socialism. The bailout is going to cost taxpayers and consumers untold pain in the long-term future of our country. We are now essentially paying with monopoly money; there's an excess of money vs the production of goods and services for the next 50-years. If you can imagine the amount of money the government is now pumping into our economy and how long it takes homebuyers to pay off their mortgages, you'll get some idea of how much the taxpayers are in hock.

The government has now put more money into circulation without it being supported by bonds, and the federal deficit is now a useless measure of how our GDP grows or shrinks.

I've always been of the opinion that the feds play on quarter point interest rates to control inflation were bogus, and this action to pump billions more into our economy proves my point.

We are doomed.

http://able2know.org/topic/122739-1

I have a conventional mortgage - 20% down - huge loss on the house in the last year. I pay my mortgage on time. Shouldn't I get a break?

Hell, I don't even want a handout - just lower my interest rate a point.

Honestly, we should be out in the streets of D.C. right now with weapons drawn and ropes at hand. Neither party is doing us any favors. Between this bailout and the Dem's new "no drill drilling policy" we're all screwed for the foreseeable future.

ceej, What was your actual $$$$ loss in equity on your home; in our area, the average home value loss was about $400k. Interest rates should be coming down on mortgage loans; that's the only way many new families will be able to purchase homes.

As for drilling oil in the US, not all democrats are against it. On top of that, the oil companies already have drilling rights on thousands of acres of lands in the US that they have not drilled on - about 80% of the land they have leased goes untapped.