Loc: Syracuse, NY
The Feds are throwing the kitchen sink at the mix. That an we have a Fed chairman in Bernanke that is a scholar of the Great Depression. Now Congress has decided to help. We are truly fscked now. The Bear Sterns bail out was nothing more than trying to prevent a run on other financial institutions. And the other shoe has yet to drop on some very shaky hedge funds that Bear is on the hook for. So as tax payers we will be left holding the bag. And now we have Congress trying to exacerbate the problem by bailing out municipalities and stupid individuals with our tax dollars.<br><br>We have to let this thing hit bottom. There are going to be many "sucks to be you" situations that need to happen before our housing market can recover. <br><br>If nothing else, prosecute those lenders and brokers that misled their borrowers and let those that couldn't afford home ownership go back to renting. And those speculators that bought on slim margins in hopes of flipping for a profit, let them hang. "It sucks to be them" <br><br><br>Having big government try and bail this thing out is only going to prolong the pain. IMHO.<br><br>
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