These are all high minority areas with legals and illegals getting loans and either not paying them back at all or getting loans above and beyond what they can afford.

Well, duh, ya think? I'm one of the white people and my Katrina (remember the forgotten storm?) properties that I paid 140k for were foreclosed on four months ago for 67k. That was the straw that broke this camels back. I figured that my credit was already ruined, my chances of paying off my credit cards (which I had maxed out to make the previous mortgage payment) were slim to none, and that if I'm going to have to take bankruptcy anyhow, why bother paying Citi and their 21 percent int. rate. I'm in default and I just don't care anymore.

Finally, a blog that is short, sweet and says what needs to be said about the situation with no drama or fuss. I have been getting the feeling that AOL was nothing more than an electronic version of the National Enquirer lately! I will watch with interest what they do with Citi (if anything). It IS a bug sucker!

I think it's a horrible shame, that the Government is bailing out a lot of these banks. What the Government should do, is give 300 Billion to it's American People for a fresh restart for all the families. If this would be done, most of your credit problems would be paid off, and just about everyone could feel like working again. This is very very wrong, to have giving all that money away to banks, the ones that got America this way. When America stops acting stupid, and wakes up, only then will things change. America does not feel like working all of their lives, just to pay off debts, wake up Washington!.. and Mr. President!!.. and do the right thing with the people that live in this great USA!!!.

Well, since I feel a lot of people know this, but the little people can't seem to do anything about it. Citigroup was purchased by a person in Saudi Arabia, but now it seems the news says he only bought a small share. When I found this out months ago, I closed my credit card account with them. We are at war, losing lives and heavy wounded military.

I REALLY WOULD HOPE THAT MY TAX DOLLARS WOULD NOT GO TO BAIL THIS BANK OUT. I DO NOT WANT ANY OF MY TAX DOLLARS TO BAIL OUT BANKS THAT HAVE OWNERS IN OUR ENEMIES HANDS.

A lot of us have been thinking the same thing, why not give the bailout to the consumers? I sit and think about this and wonder if it could work. From what I know of people they would just go on a spending spree and to hell with the credit card debt and everyone else. I'm sure they would figure the government will just hand them more money to blow. Bailing out from the top down will separate the wheat from the chaff I believe. It will just take time and a lot of pain. My sympathies to us all.

The government should be bailing out
"The People", not these banks. If the government helped US Citizens, the banks would still get their money and it would free up household income for "The People" to make a living. Instead, the government is bailing out the banks and they are STILL going after defaulted loans from "The People". So they are essentially getting their money twice!

We're pretty much in the same boat as "Madsahader" is...we're self-employed & built our home in '92 and then this year, pffttt...the illegals have arrived and taken all our work and getting paid peanuts, of course the quality is non-existent, but people are paying less, and getting what they pay for, we can't live off of the repairs we have to do on their shoddy work, and the "Citi" people called us!!! Well, of course, we wanted to keep our home and hoped work would soon pick back up after so many shoddy jobs from the illegals, but here it is November and nope, we are losing our home. We, too, maxed out our cards paying mortgages, and are pretty much just standing here with our arms in the air, we give up...the "Citi" people pulled a fast one on us when we first refinanced too, told us we'd be getting the best rate in the nation! They ended up giving us an APR of 12% instead of the promised 8%....so let 'em rot, I really don't care anymore either!

Great USA? Oh please! The only thing great about this country today is the great stupidity through which it is governed.

I agree with Lee. Give the American working households $75,000-$100,000. That would sure help the economy, because people would buy cars, pay on their homes and get
this econmy working again. Give a billion corporation billions of dollars, what are they going to do with it? Buy another corporation.

As my banker once confirmed, lenders and insurance companies are scum. They suck the financial life out of their customers and never want to give anything back. CASH! Piles of cold hard cash is the best way to weather the current economic situation. I discovered one of the best books you'll ever find about finance, "How to Become Filthy Rich on Your Current Income" at www.how-to-become-rich.com. If people read books like this one we would not have the current situation we do.

The reason our so-called government won't give us the money to put back into the economy is because that is not how the Illuminati works....they are the ones running our country as well as others. We need to revise our monetary system because it isn't fair to the people, us! The so-called Federal Reserve Bank, sounds like the government owns it right? Guess again, it's the Bilderberger's who own the majority share in the FRB, a mainstay in the Illuminati...they are also the ones responsible for Obama's win to the Oval Office...they've been running our government and others for over a century and as long as they do, we will all do without...here's just a couple of interesting sites to check out the facts for yourself... http://www.libertyforlife.com/jail-police/us_concentration_camps.htm ... http://www.prolognet.qc.ca/clyde/camp.htm

I don't see the government adding money to your 401k's that we've all lost so much on. Neither do I see them bailing out our social security system which alot more people have to rely on by losing so much in their 401k. I don't care what anyone says, unless your in your 20's you will never re-coop all of your loses that you incurred this year in your 401k.

If people weren't so stupid, we wouldn't be in this mess. It's pretty simple: Don't buy things you can't afford. I think that instead of making the banks responsible for this mess, the people who took out the loans should be held accountable. Maybe those with a foreclosure or bankruptcy should have an increased tax rate. Those of us who bought houses we could afford are already paying for the mistakes made by ignorant buyers in the form of decreased property values. What these so called "homebuyers" did should be considered a felony. If they chose not to read the terms of their loans, that's their fault, not the banks'. People were greedy, thought it would be nice to take out a line of credit on their house so they could drive some pimped out Escalade. They don't have the house anymore....but hey, they look really cool when they run out of gas on the side of the road. Stupid people.

I amazes me the number of people who think bailing out the banks think that means that the bankers walk away with the money. In the simplest terms, a bank bailout means the people who have deposited their hard earned savings in the bank won't lose them. That IS the American people being bailed out!

TO: Sharon H...oh yeah, right!!! Did you forget about the lush vacations the execs are taking, the parrties they held for their 'employees'?? Well, guess what, they are back in Congress asking for yet MORE money!!! The banks are greedy, and they don't really care about your money nor mine!

Yes it is a shame! The politicians bail out the banking industry, they take their newfound money and throw lavish parties for the upper echelon, buy up other banks, but nothing to help us poor-paying taxpayers, except to put our future generations in further debt! When will it stop. Not until 98% of all Americans are living at poverty level, and the upper 2% are doing as they please!! Hey, that's the American way. Find the loopholes and exploit them for your own personal gain!!!!!

I want to know if the price of ripple will go up at the whitehouse or will the drink of the day be thunderbird. You will see MSNBC down their sucking up to obama.

TO: STUPID...That was a pretty harsh statement there!!! NOT everyone falls in that one category. If people who hired illegals were prosecuted a lot more people would have their jobs backand could afford to stay in their homes!!! Most people who re-financed used the extra money to make payments on their homes thinking work would pick up or they would get a better job. Pity that you are so closed minded that you can't see it's not all about greed on the peoples part! We can only dream of ever owning an Escalade or any new car for that matter!!!

As for the financial/banking crisis; the ones to blame are the Govt. for all the de regulation, the lenders for the greed and lack of accountability,the irresponsible public who are in debt from gross overconsumption and the those who were supposed to be in control for the above.The CEO's of these companies should be held personally responsible for their gross incompitenance rather than lay off the many rank and file while "they" remain in tact ! This situation is an outrage to responsible Americans who act as such and now must pay the price for all this corruption,greed and irresponsability.The Govt. should be giving "us" a tax break for not having to depend on them for anything in the way of financial buyouts,bad debt and irresponsible consumption all debt/credit related !