Dodd and Frank still managed to screw you.

BlueRooster · #1 (**permalink**) 10-02-2008, 05:02 AM

I have read that the Republicans have been calling for more reform and regulation of fannie Mae throughout the Bush adminstration. Maybe even before. Am I wrong about that?

jhv48 · #2 (**permalink**) 10-02-2008, 06:01 AM

Why do we keep placing the blame on Washington.

The fact is that if WE hadn't become GREEDY consumers and obtained all these unrepayable loans in the first place, WE wouldn't be in this mess.

Let's assign some of the blame to the GREEDY American Consumer.

Granted, the banks became enablers, but no one held a gun to our heads and made us sign those loan papers, run up those credit card balances, take out home equity loans to pay for new cars and vacations, etc. etc. We could have said NO!

And now, because WE screwed up, we expect the Government to bail us out.

I say, let this mess solve itself. I think it will create a new American consumer that will begin to live within his means and actually learn to save money instead of living on credit.

Just my opinion.

Ron61 · #3 (**permalink**) 10-02-2008, 06:24 AM

jhv48,

I agree with most of what you said but what about also holding our crooked politicians and the Govt. to the same standards?

Ron

Dan40 · #4 (**permalink**) 10-02-2008, 08:49 AM

OK, the Utopian fantasy of "selling" houses to people that couldn't and wouldn't pay for them was a Democrat idea. BUT the Republicans [with plenty of Democrat help] were the ones who made it work. So there is enough blame for all. They all got together and made "securities" out of scrap paper.

I agree with the post above that we are all going to suffer until the economy sorts itself our with actual values instead of imagined values. If we must suffer, and we must, I'd just as soon do it without devaluing our money ANOTHER $700B.
In the defeated House bill, one wonders why the "needed" $700B required raising the debt ceiling by another $2 TRILLION?

Our elected "officials" have the exact same grasp on REALITY as Reality TV shows do. Zero.

Dan

jhv48 · #5 (**permalink**) 10-02-2008, 09:42 AM

And they will as long as we keep electing them and letting them get away with it.

Aren't congressmen up for election every two years? If so, we could completely change the Congress makeup in about two congressional elections.

Maybe it's time for a complete change of representation.

Once again, we can't complain. We elected them.