Asian markets give Bronx cheer to $700 billion bailout

I agree that there has to be a better way to get the banks to loan to each other, which seems to be the main problem.

What Mr. Cohan has suggested isn't brilliant, but in leu of circumstances, It is a far better suggestion than a 700 billion sniper shot in the dark that will end up like birdshot all over the place. In my personal and patriotic opinion, the 700 billion bailout is only for the greedy and not for the needy. And it is your taxes and mine that will pay for it. It is past time that the government stop ignoring the American people and start listening to us. They should freeze the presidents personal assets and use the money to pay for the war of lies that he so eagerly started and too stuborn to pull out. He should be considered a democrat because he lives to the mascots reputation. Please write or e-mail your congress rep. and tell them to continue to say no to the 700 billion bailout plan. May God Bless America. Your government will not.

I personally believe if the 700 billion were distributed to the tax payers (18+)instead of the banking institutions, you would 1, not be taking tax payers money to bail out the banks and 2, still funnel most of the money to the banks. Most would either pay off mortgage debt or invest it. You solve the tax payer forclosure/income problem and fund the banks at the same time...definitely the best solution.

Michael,

Great thought.

That makes far to much sense. Our government is not smart enough to think of a simple way to fix this problem.

Great Article! The truth which country is got the $700 billion? Search using "Got $700 billion?" http://got700billion.blogspot.com/

I haven't been paying as much attention to all of the $$$, as Mr. Cohen has done, but it would seem to me that our Gvmt has spent upwards of 10% of the "bad mortgages" out there in banking-land.

I wonder if, when that amount of our spent tax dollars reaches into the 70% or so, someone will ask how come we didn't just BUY the damned Bad Mortgages to begin with?

It looks to me as a plan to correct Debt, with even more Debt. Oh well, greater minds than me are at work here, I guess. But, I'll still offer my opinion like any other brash American with Hutspa!


1. Place a 6-month moratorium on all mortgage defaults. Homeowner/taxpayers are protected - check!

2. Amount spent so far: $5000 for every man, woman and child in America (give or take a smidge). Deposit that amount into (225M) individual bank accounts, in special can't-touch-it-for-6-months pseudo-401(k) accounts. Banks are infused with cash - check!

3. Figure out everything after all of the "thrashing" has finished and we have a young, energetic President. Road to recovery - check!


Peter, I'd be curious if you still hold with the "let it all crumble, if that's what happens" school of thought??

Bail out the Needy not the Greedy!
McCain wants cap of 400,000 for bailed out ceo's --How bout 40$
http://www.squidoo.com/double_speak

I'm starting to get depressed and I'm an optimist! Possible solution: Have the home owners that took out these upside down mortgages take on part of the loss if they have to give the home back to the bank- period. What percentage, I don't know perhaps 50%. In exchange they get to keep their credit status and it allows them to purchase again in the near future. Most of these losses are very doable for most of these home owners! It really is a case of buyer beware! Or, if they're not willing to do this, assign an insurance type premium to any loan they take out for a lifetime. Also, investigate all loan fraud and aggressively prosecute! If you granted a fraudulant loan we want as much of the money back as possible. If you lyed on a loan ap (no ss# required, no income check,etc) the tax payers would like it all back no matter how long it takes-please see your loan doc gov small print (it's a Federal offense)

Live below your means and embrace Christianity! Aren't ya all tired of this moral decline? The Republicans voted correctly in my opinion!