One Reason the Bank Bailout is Hogwash

[JoJoJodyJo]

I have been against the $750 billion dollar bailout plan passed by our government from the beginning because I don't think it's going to resolve the issues or help anyone but the crooks on Wall Street, and apparently my intuition seems to be right. Check this article out and tell me if you're as disgusted and p.o.'d by this as I am

$50 billion of bailout going to employee bonuses - Top Stocks Blog - MSN Money

Jody

[Moe Bedard]

Wall Street was really a sleazy red light district and these executives were nothing more than dirty prostitues for the all MIGHTY dollar. They have basically created a man made "financial veneral disease" and have spread it amongst themselves and the world.

The Wall Street whores are pissing fire, yet being courted and treated like 18 year old virgins by our governmnet.
Attention Washington, it is time to divorce these no good two timing whores for the clean and loyal people for which you represent and are "actually" married to, the majority, MAIN STREET!

This is really what I view as "financial crimes" and these idiots that they are supposedly "trying" to be retained with bonuses because they are sooooooo gifted should be instead given 3 hots, kot and a orange jumpsuit courtesy of the only guy willing to confront these sleazy Wall Street clowns, NY AG Andrew Cuomo.

[Irish Gal]

Go Moe !

I love your "mad as hell" posts. Perfectly said. But, I honestly STILL do not get how all these thugs in suits continue to get away with all this Wall St. crime (past, present and future) w/ NO consequences and homeowners continue to have to jump off their Titanics before they completely sink. I just don't get it. Yes - small in-roads have been made (torturously). But, it looks like the most folks are going to get - after wwwwaaaayyy too much hard work - is reduced interest rates for a few years. No principal reductions. There's no help for a homeowner if they can't unload the 2nd note. The 2nds can block getting a good mod. People still seem to feel so desperate - they are taking any mod offered. The thugs are still in control it seems. Even after being busted. They still walk away with their bonuses and $$$$$ deals they put in place for themselves. Now they're using the bailout money with absolutely no accountability. And there's no end in sight re their control. The inmates continue to run the asylum ! I know it's the good ole double standard re crime. White collar thugs get off with nothing or a slap while Main Streeters get real time for similar offenses (and the worst prisons). Seriously, Moe, what is your take on this at this point in time? After this massive financial collapse, why is the gov't STILL not moving whatsoever to provide decent and deserved mods (w/ principal reductions) to those in need ? Why the electorate is allowing them to do nothing during an election year is beyond me. I know the investors own the bogus paper. So what if they sue ? Let them get in line ! Do you really think all these investors would like to tie up their (limited) funds these days in never-ending litigation? And that courts and jurys would be empathetic to those who conspired with Wall St. to fleece the masses when times were good ? No one even knows who these nefarious investors are anyways or who owns what. What's the worst that can happen if someone (w/ power) actually grew some you know whats, and just ordered mass modifications (fixed rate reductions w/ principal reductions to current values) ? And let the "boogyman" investors sue ? So what ? Help me understand why NO ONE (so far) has had the needed "you know whats" to just take charge and do what it REALLY takes to stop the national foreclosure bleeding and just stop all this silly (never-ending) posturing to nowhere (like something is actually being done to assist Main St.) ? I know Sheila Bair (FDIC) is trying and is the only one truly advocating for Main Street right now, but from what I've read everywhere, the only assistance homeowners will end up w/ ultimately (the way it's going) is the basic rate freeze for a few yrs which only encourages underwater homeowners (massive numbers) to walk and continues the foreclosure bleeding.

In your (current) opinion, what's the best resolution that you think homeowners will ultimately get in this whole mess from those in power ? Will anyone in charge ultimately wake up? And do what is really needed ? Are you hopeful ?

Your rants are greatly appreciated (as well as everything else you do) !

Irish Gal