As banks falter and markets melt around the world, government officials are scrambling to stop the bleeding. Treasury Secretary Henry Paulson worked feverishly to get his $700 billion rescue bill passed and Fed Chairman Ben Bernanke gives his economic outlook later today.
We want to know if you would replace either official—and if you would, who would you want to take his place?
Democrats - WELFARE, FREE HOUSING UNDER SECTION EIGHT, HEAP, FOOD STAMP PROGRAM, MEDICAID... the list goes on. Mostly used by people in Democratic (Blue) States, by Democratic Voters, who voted along Democratic Party lines. They use these programs, not for a limited time, but throughout their entire lifetime. All TAX-FREE. Now add sub-prime loans and bailouts and they are living larger than ever, all on the backs of taxpayers.
Folks, even so called illegal immigrants, are paying taxes towards these programs.
Republicans - Work, Have limited savings, Pay Taxes, Bail out Democrats.
Prosecute all who took, take away all their illegal gains (Houses, cars, boats....including what their family gained through their activities - everything - please, they knew where everything was coming from.)
Tax paying Americans deserve;
Entitlement tax breaks.
Flat tax - (Fair Tax)
No Death Tax (We’re getting killed as it is)
Corporations
Reduce Corporate Tax - Corporations will hire more, including those that never work, who can start paying their own way.
We tax paying, hard working Americans are not becoming the "The Working Poor". We are "The Working Poor".
For the past fifty years, each time the Democrats were in control the American people suffer.
Two years ago these salesmen got in the front door again.
Barney Frank and Christopher Dodd are the two culprits. But, since the democrats are in charge, don't expect them to ever get questioned in government hearings (let alone indicted).
The concept of wealth redistribution took a new level. If you cannot get a direct tax passed, do it by promoting lending to individuals that cannont repay the loans and then bail it out with taxpayer money. Frank, Dodd and all those that promoted the bad lending policies that lead us to this are the ones that should be fired. Not a one of them are taking any of the blame.
While your at it, why not tax us some more. Corporations don't pay taxes, they add the cost to the products we buy, or else they go out of business and we don't even have a product to buy. Built into every product we buy is a large percentage of taxes that get passed on to the ultimate consumer.
Fire Paulson and Bernanke, as well as Chris Cox. Kick out everyone in Congress who voted for the nearly-trillion dollar bailout.
Eliminate the lobbying industry or at least make it illegal to take bribes - sorry, contributions ;) - from an industry if you're on a committee that oversees that industry. Investigate exactly what went on within these big financial firms and prosecute to the fullest extent if any laws were broken.
Replace Paulson with Ron Paul and, if we can't totally eliminate the Fed, replace Bernanke with someone with Hayekian leanings.
Dennis Stumbo,
You are correct. Bill Clinton and his democrats wanted more people buying houses. He wanted immigrants and low income people to be able to purchase a home because renters do not pay taxes and he wanted a surplus. The only way was for more taxes to be paid. He didn't want people to meet regulations. Just loan them the money so he could collect taxes.
Obama is following right into his footsteps. He came out of college and went to work for ACORN. A group that puts pressure on banks and lending institutions to grant loans to people that could not afford to pay for them. Obama taught them how to put pressure on these institutions.
He claims there is no association with Bill Ayers but Bill is the one that helped him get his political career going and Obama wrote an acknowledgement in Bill Ayers book. I don't know why anyone would do that unless they are friends. Obama is partly responsible for the crisis that we are in today. Why don't people listen. A girl I work with is voting for Obama because she thinks he is cute. These are the people we are allowing in our voting booths???
I agree, vote against ANYONE that voted in favor of this bill. They don't care about us or they would never have allowed Nancy Pelosi to put pressure on them to vote yes.
If anyone is going to stop the bleeding it is us. We must let them know that they represent us. We voted them in and we can vote them out!!!!
Fire all the morons in washington that allowed this to happen by lending to the poor idiots that did not know better but felt they needed a house. We all know what we can afford and what we cannot, these banks convinced the poor people that they could live way above thier means. Take all the ceo's and all the salaries of congress expecially the dems and barney frank, and start using this money to pay off all of these houses. Everyone involved in this, including the stupid clintons who starting working for the poor mornon's when they were in office, should all be jailed, that way it will show everyone we are serious. But as we all know nothing will happen, because washington is run by big interest groups and everyone is corrupt...
Both of these gentlemen should get the boot - blame always lies with those trusted with the office, whether it was their fault or not. As for our elected officials? Well, the same principal applies - Bush, Reid, Pelosi, Franks, Dodd should all be replaced, but that is a call that will be made by the voters. And on that one point, the people I hold pesonnally responsible - THE PRESS! If the media (NBC, CBS, ABC, NY Times) did their job - and actually did investagative reporting, the voters wouldn't have these idiots in office long enough to hurt the economy.
Start with SEC chairman and his underlings who were not watching or paying attention. Barney (I've got a boy friend at Fanny May)Frank and Chris Dodd for the fine performance and stonewalling changes of both Fanny May and Freddie Mac. STOP Henry Paulson from bringing aboard more WALL STREET PEOPLE. This stuff is getting old and what was the hurry to get this passed.
Something really stinks....... besides the bad investments........ Get Bernanke out (he also didn't see this coming). Find every last individual that profited from these loans and send them away on the government's nickle.
About 5 to 10 should be good. Replace CONGRESS and put in place term limits so this can never happen again. I don't believe our fore fathers wanted Representatives and Senators to be a life time job.
The inbreeding in Congress with all groups has caused these financial crises, which was based on good intentions and greed - social justice. If ever there is a time to “term limit” congressional members, as the presidency, it’s now!
I blame the Congress first (especially the committee members) and the Government Agencies second they all forgot their assignments to protect all the public not just there friends and neighbors.
CEO's, government officials who watched, skimmed and did nothing, should be on trial for treason. Have "ALL" assets taken, found guilty, Then publicly hung. This way all can see how serious this is taken by the people. Since mediocor fines and short stays in tennis and golf prisons does'nt seem to be a real deterent from this kind of activity.
Fire them, CEO and executives who oversaw the finanical institutions (and claw back the funds), Paulison and Bernanke, Bush, Barney Frank, Reid, Dodd etc. etc. They all belong in jail and be stripped of their wealth which should be returned to the tax payer.
Franklin Raines, Tim Howard, Jim Johnson, Nancy Pelosi, Barney Frank, Harry Reed and any other member of Congress who ignored the irregularities and warning signs as far back as 7 years ago. This is where most of the blame lies but don't expect to hear anything from the main stream news media until after their Obama gets elected.
Lets not rail against CEO's, like it or not the market sets their pay just like it does for sports stars, lets not make senseless populous platitudes like corrupt greedy wall street. The financial markets reacted predictiably to the perverse incentive of Fannie & Freddie buying sub-primes like candy. The melt down was predictable and was predicted by many but the Democrats interferred with and down right blocked any attempte to stop the train wreck from happening. I have heard only one of them apologize for flushing the world finacial system down the drain and possibly financially ruining millions upon millions of people. Who to blame?, start with Frank Raines and then go to Senator Chris Dodd and Representitive Barney Frank and the rest of the congressional leaders who blocked the attempts to stop it.
ALL of the politicians need to go, without any retirement and the lavish medical care they would recieve.
Could you imagine splitting 700 billion dollars up to all the tax payers, then taking that money and allowing folks to pay off their loans, bills and credit cards.
Then our nation would be back where it should be.
I URGE YOU ALL TO SEE THE MOVIE, I.O.U.S.A., PRODUCED BY THE AGORA FOLKS IN BALTIMORE MD. ADDISON WIGGIN, BILL BONNER, ETC, THEY HAVE BEEN TELLING US SINCE 2004 THIS WAS GOING TO HAPPEN.
IMO, RON PAUL IS THE ONLY ONE IN CONGRESS THAT UNDERSTANDS ANY FINANCE STUFF.
2004?, YES, 2004!
I think the entire of Washington should be fired! They are all a bunch of idiots or crooks or both!
If you add Nancy Pelosi, Harry Reid, and Barney Frank's IQ's, you might get 10 total!
And Bush has just given Obama the keys to the Oval office with this stupid economic disaster!!!! Way to go, W!!!!!!!!!!!!!!!!!!!!!
And EVERY CEO, CFO, COO, PRESIDENT, AND VICE PRESIDENT of these companies that are in need of money should be FIRED WITHOUT ANY EXIT PAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Period! End of story!
Not a one of my Senators or House Representatives will get my vote when they are up for re-election. They are not listening to the people they represent and they have bowed to and are harboring the people who got us into this mess in the first place.
To all the Financial CEO's who helped this along... Jail Them!
To all the mortgage brokers who catered to the Greedy and duped the un-educated... Jail them!
Power to the People, We have the means to right this wrong.
VOTE with an Educated Vote.. Don't just vote for the popular guy.. whether that be McCain or Obama... Maker your Vote Count
!!!EDUCATE!!!
Barney Frank, Reid for the pork he added in the bailout, Dodd for corruption. Then arest all the AIG excecs and other CEOs and send them in a long-long special 'retreat' in a state jail for a long time. Make sure they don't have 100 mills when they come out. Get Paulison and Ben Bernanke out and bring in the real money brains - people who made their own fortunes the right smart way - not through decit and corruption. Let them find a way to 'save' whatever can be saved and allow some of them to fail
Dump anyone who voted yeah for the 700b bail out plan, including Obama and McCain. Everyone else straight to jail, minimum mandatory sentence 700 billion days.
I think we should send a message to our congressional leaders by voting against the incumbants. What can be worse, a new set of heads on the hill without the excess baggage of the past 16 years or our current situation of blame the other party and hope your constituates have lost television reception and gone blind and deaf. Administrations are not to fully blame since it is Congress, as per our forefathers building of the government, that has the power to legislate. I think our society today resembles what happens in Congress, and why not, we not only keep sending them back, we support them by sending money and doing nothing. Take a pledge and send all challengers to congress and we might see a change that if you mess with the people, you will feel the dire consequences. Long live our government, who are forefathers set for to build this great nation.
Remove Pelosi,Barney Frank, Chris Dodd, Chuck Shumer, impeach or remove by force anyone, Democrate or Republican, who voted against or helped defeat Bush's attempt to reform Fannie Mae and other financial problems.
PALIN FOR PRESIDENT!!!
Christopher Dodd first and mostly, Barney Franks, Nancy Pelosi. Even after AIG got bailed out they partied hearty with the bail out money - they all are dispicable.
I don't know how to get rid of certain responsible people in government if its even possible except to vote them out of office (fat change), but here's my list; Sen. Chris Dodd, Barney Franks, Speaker Pelosi, Sen. Harry Reid (How's he profitting from Nevada real estate these days), to start with.
What is missing in this governemtn self-inducted financial situation is correcting structures that were repeeled by Congress and signed into law by past presidents. These are:
Re-institute the Glass-Steagall Act (separates commercial banking from investment banking and the insurance business)
Make Fannie May and Freddie Mac private mortgage companies, not backed by the U. S. Government
I like Dave Ramsey's recommended changes to address the home mortgage loan and cedit problems in place of the bill just passed by Congress and signed by President Bush.
His recommendations are available on his Web site at: daveramsy.com
Briefly they are: Insure the sub-prime bonds/mortgages with FHA type insurance.
Some changes for companies to do before accepting government-backed insurance.
Cancel all golden parachutes for companies holding government-backed insured bonds/mortgages.
Mark-to-market: Remove existing rules for two years on only subprime Tier III bonds/mortgages. Creates market patience and stabilizing effect.
Capital Gains Tax: Remove capital gains tax completely. This action will flood the real estate and stock market with invsetors in search of tax-free profits.
I tried to bring Dave Ramsey's recommendations to my Nebraska congressional representative attention but problems with the House email system prevented timely delivery of emails. Personally I don't think that anyone in Congress or the White House is interested in fixing the home mortgage loan and related credit market situation. And I don't hear any pundits talking about finding the source of the problems and proposing any fixes, either good or bad.
This is my 2-cents worth of advice.
Start with Paulson for his original three page piece of toilet paper giving him full, unquestionable authority. Second, Bush for even thinking about Paulson's idea. Barney Frank and Chris Dodd need to be removed from their leadership posts. Dodd needs to be investigated.
Franks Dodd and Obama. Obama helped acorn change the lending practices at banks in a lawsuit in chicago. Acorn then with the 780 million dollar budget provided by the tax payers via the democrats forced irresponsible lending trough out America.
If nothing else happens out of this mess Senator Harry Reid should be slamed for adding $110 Billion worth of PORK to the Bailout bill. I am totally ashamed that the American public has not called him out on this one singular issue. OUR TAX MONEY and he just dumps it around like Halloween Candy.
The biggest is the best $480Million to California, and then the TERMINATOR has the gaul to come in and ask for a loan of and additional $7 Billion from
us the tax payers.
I think they should just give the people the money. Just think, if each American got a part of the cash everyone would be debt free and presto! no more credit crisis or morgage crisis. I know its not as simple as it sounds but I still think it would work.
There are many people who should get the boot. Lets start with the 535 members of the United States Congress. They are the fools who make these laws and regulations, then do not do a damn thing to see that they are enforced. From there, take your pick. Chairman of the SEC, Greenspan for keeping to much money in the financial system to long, Bankers, Mortgage Bankers, Investment Bankers and last but not least the American Public itself.
This financial mess we find ourselves in is the making of all of those people mentioned above. But isn't just American to try and convince ourselves it was just one person or thing that created this mess???????
Wake up America, you screwed yourself!!!!!!!!
Replace them both with Mitt Romney and Steve Forbes. It is a shame that these two great minds were not elected by the ignorant masses. These two could really get some good things done. WHY IS NO ONE TALKING ABOUT CUTTING GOVERNMENT PROGRAMS AND TAXES?!!! When our families get in debt and financial trouble we spend less and scrape to earn a little more. WHY SHOULD THE GOVERNMENT BE ANY DIFFERENT?
It is a disgrace that bernanke has allowed the integrity of his position to become a political battle ground. We get bernanke, and the chinese get robert barro of harvard. Real Fair. Bernanke is doing all these things for political reasons, from a position that is suppose to be free of political ties. I would fire him in a moment.
Paulson should be fired. Reasons obvious.
If anyone using 4th grade math can SEE that these govt. funded programs are destined (designed?) to fail, then why is our eonoomy being set up to crash? What -- is there another country out there ready to buy us up?? What else are we supposed to think when it's so obvious this bailout will do NOTHING but put the nail in the coffin. Time to wake up to what our govt. (both sides are culpable) has been setting us up for all these years. Only it's out in the open now, whereas before it was hidden. Good to finally face the enemy within (and wonder who's behind the scenes...)
After the ACORN office raid in Nevada, I think Obama might need a lawyer.
The people that put the 250 million earmark for ACORN in the Freddie and Fannie bailout bill and the Senators that tried to add an equal amount in the Economic Recovery Bailout bill should be the first to go ... to JAIL.
http://elections.foxnews.com/2008/10/07/acorn-vegas-office-raided-voter-fraud-investigation/
Funny how this isn't being reported in CNN or MSNBC.
Comments by Michele H. are pretty good!
Barney Frank, Chris Dodd, et al, should get the boot.
Their re-distribution of welath scheme is bad for this
country. In fact it is the teaching of Karl Marx, the anti-God
fellow that believes religion is the opiate of the people.
Guns and Bibles.umm..does that have a familiar ring?? Oh yes,
enter Obama.
The corrupt congress needed to add 150 billion in pork barrel spending in order to pass a bailout of a situation they legislated into existance. Any one that voted for this travesty should resign immediately. That the people who supposedly represent our interests needed to be bribed in order to consider voting for legislation that will not take effect for three to six months except the recipients who are the beneficiaries of the bribery.
Who should get the boot?Everybody on the US House and Senate Banking Committees and any committee that oversees Fannie and Freddie. Start next year with some fresh, competent eyes.
Boot all the Democrats and definately don't let another one be elected President. They are the ones that originated all this mess when they created the CRA.
Any and all politicians who voted for or this bailout or government officials who suggested it. Most important, the entire Federal Reserve system should be scrapped, just like JFK was trying to do before he was killed. The Federal Reserve is the factory in which inflation is manufactured and the value of our money is thereby debauched.
Politics aside, every person involved in these companies that have "failed" should have their assets seized to pay back the public for bailing them out. It's all been a "I didn't know what was happening" excuse for these people. Take everything they own and sell it off to pay back the the american people for their failures. These people were paid way too much for what they did and they didn't do their job. No excuses. I'm tired of hearing excuses. If I didn't do my job, I'd be fired and not get any bonus for not doing my job. Put all of them into poverty and see how they like it.
Any of those individuals who created this mess and are now attempting to sweep that very same mess under the rug. That, my friends, would be none other than Mr. Paulsen and any other of his manipulative croanies who assited in this...well...lets be blunt...government backed master-plan.
Paulsen deserves the boot...if "boot" is an implication of an unpleasant future, non-existant life outside of a cell and a new yearly "income" that is equivelant to that of his entire wealth and assets LEAVING his possession and being re-allocated where it's amounts are needed most to ACTUALLY aid in funding a REAL solution.
Expose both Democrats and Republicans involved in this mess. Pelosi, Barney Franks, C. Dodd, Paulson
and the list goes on and on. This country is headed toward Socialism and it that has placed the fear in me. Obama is the scariest one of them all!!
Remove all 535 members and replace them with 535 "Joe Six-Pack's". They couldn't do any worse. We would probably save money due to all of the graft, theft and/or corruption that is going on.
This entire episode is an example of prostitution in politics. The so called representitives of the people can be bought for a price on almost any subject. Look at recent events. The Dems tried to get a bill passed quickly to cover there past failures to regulate the housing market. The Republicans wouldn't go for that, but they sure did once the pot was made a little sweeter. There should be investigations into the actions of all of the Congressmen and women who supported allowing people who had no business buying to get a mortgage. Last I looked there is NO constitutional right to homeownership.
The "Blame Game" is great and the Democrats and Republicans will be glad to play it for you where the final outcome will be a draw where no one is to blame. IN THE MEANTIME...........................
They (rep and dem's ) will have you watching the exciting game so you don't watch what they are doing now. You think they fleeced us befors? You "ain't see nuthing" yet.
Anamerican
Democrats - WELFARE, FREE HOUSING UNDER SECTION EIGHT, HEAP, FOOD STAMP PROGRAM, MEDICAID... the list goes on. Mostly used by people in Democratic (Blue) States, by Democratic Voters, who voted along Democratic Party lines. They use these programs, not for a limited time, but throughout their entire lifetime. All TAX-FREE. Now add sub-prime loans and bailouts and they are living larger than ever, all on the backs of taxpayers. Folks, even so called illegal immigrants, are paying taxes towards these programs. Republicans - Work, Have limited savings, Pay Taxes, Bail out Democrats. Prosecute all who took, take away all their illegal gains (Houses, cars, boats....including what their family gained through their activities - everything - please, they knew where everything was coming from.) Tax paying Americans deserve; Entitlement tax breaks. Flat tax - (Fair Tax) No Death Tax (We’re getting killed as it is) Corporations Reduce Corporate Tax - Corporations will hire more, including those that never work, who can start paying their own way. We tax paying, hard working Americans are not becoming the "The Working Poor". We are "The Working Poor". For the past fifty years, each time the Democrats were in control the American people suffer. Two years ago these salesmen got in the front door again.
Garry Greenwood
Barney Frank and Christopher Dodd are the two culprits. But, since the democrats are in charge, don't expect them to ever get questioned in government hearings (let alone indicted).
Bob
The concept of wealth redistribution took a new level. If you cannot get a direct tax passed, do it by promoting lending to individuals that cannont repay the loans and then bail it out with taxpayer money. Frank, Dodd and all those that promoted the bad lending policies that lead us to this are the ones that should be fired. Not a one of them are taking any of the blame. While your at it, why not tax us some more. Corporations don't pay taxes, they add the cost to the products we buy, or else they go out of business and we don't even have a product to buy. Built into every product we buy is a large percentage of taxes that get passed on to the ultimate consumer.
Winston Smith
Fire Paulson and Bernanke, as well as Chris Cox. Kick out everyone in Congress who voted for the nearly-trillion dollar bailout. Eliminate the lobbying industry or at least make it illegal to take bribes - sorry, contributions ;) - from an industry if you're on a committee that oversees that industry. Investigate exactly what went on within these big financial firms and prosecute to the fullest extent if any laws were broken. Replace Paulson with Ron Paul and, if we can't totally eliminate the Fed, replace Bernanke with someone with Hayekian leanings.
Susan
Dennis Stumbo, You are correct. Bill Clinton and his democrats wanted more people buying houses. He wanted immigrants and low income people to be able to purchase a home because renters do not pay taxes and he wanted a surplus. The only way was for more taxes to be paid. He didn't want people to meet regulations. Just loan them the money so he could collect taxes. Obama is following right into his footsteps. He came out of college and went to work for ACORN. A group that puts pressure on banks and lending institutions to grant loans to people that could not afford to pay for them. Obama taught them how to put pressure on these institutions. He claims there is no association with Bill Ayers but Bill is the one that helped him get his political career going and Obama wrote an acknowledgement in Bill Ayers book. I don't know why anyone would do that unless they are friends. Obama is partly responsible for the crisis that we are in today. Why don't people listen. A girl I work with is voting for Obama because she thinks he is cute. These are the people we are allowing in our voting booths??? I agree, vote against ANYONE that voted in favor of this bill. They don't care about us or they would never have allowed Nancy Pelosi to put pressure on them to vote yes. If anyone is going to stop the bleeding it is us. We must let them know that they represent us. We voted them in and we can vote them out!!!!
jim
Fire all the morons in washington that allowed this to happen by lending to the poor idiots that did not know better but felt they needed a house. We all know what we can afford and what we cannot, these banks convinced the poor people that they could live way above thier means. Take all the ceo's and all the salaries of congress expecially the dems and barney frank, and start using this money to pay off all of these houses. Everyone involved in this, including the stupid clintons who starting working for the poor mornon's when they were in office, should all be jailed, that way it will show everyone we are serious. But as we all know nothing will happen, because washington is run by big interest groups and everyone is corrupt...
Dave McCracken
Both of these gentlemen should get the boot - blame always lies with those trusted with the office, whether it was their fault or not. As for our elected officials? Well, the same principal applies - Bush, Reid, Pelosi, Franks, Dodd should all be replaced, but that is a call that will be made by the voters. And on that one point, the people I hold pesonnally responsible - THE PRESS! If the media (NBC, CBS, ABC, NY Times) did their job - and actually did investagative reporting, the voters wouldn't have these idiots in office long enough to hurt the economy.
Hank in Georgia
Start with SEC chairman and his underlings who were not watching or paying attention. Barney (I've got a boy friend at Fanny May)Frank and Chris Dodd for the fine performance and stonewalling changes of both Fanny May and Freddie Mac. STOP Henry Paulson from bringing aboard more WALL STREET PEOPLE. This stuff is getting old and what was the hurry to get this passed. Something really stinks....... besides the bad investments........ Get Bernanke out (he also didn't see this coming). Find every last individual that profited from these loans and send them away on the government's nickle. About 5 to 10 should be good. Replace CONGRESS and put in place term limits so this can never happen again. I don't believe our fore fathers wanted Representatives and Senators to be a life time job.
Ken Osterlund
The inbreeding in Congress with all groups has caused these financial crises, which was based on good intentions and greed - social justice. If ever there is a time to “term limit” congressional members, as the presidency, it’s now! I blame the Congress first (especially the committee members) and the Government Agencies second they all forgot their assignments to protect all the public not just there friends and neighbors.
Randy Saunders
CEO's, government officials who watched, skimmed and did nothing, should be on trial for treason. Have "ALL" assets taken, found guilty, Then publicly hung. This way all can see how serious this is taken by the people. Since mediocor fines and short stays in tennis and golf prisons does'nt seem to be a real deterent from this kind of activity.
Leslie MacDonald
Fire them, CEO and executives who oversaw the finanical institutions (and claw back the funds), Paulison and Bernanke, Bush, Barney Frank, Reid, Dodd etc. etc. They all belong in jail and be stripped of their wealth which should be returned to the tax payer.
GReese
Don't forget Chuck Schumer, what a liar, Frank, Dodd, Pelosi, Reid, Maxine Waters, Franklin Raines, Acorn, Obama, you get the picture
Jim K
Franklin Raines, Tim Howard, Jim Johnson, Nancy Pelosi, Barney Frank, Harry Reed and any other member of Congress who ignored the irregularities and warning signs as far back as 7 years ago. This is where most of the blame lies but don't expect to hear anything from the main stream news media until after their Obama gets elected.
Luke
Lets not rail against CEO's, like it or not the market sets their pay just like it does for sports stars, lets not make senseless populous platitudes like corrupt greedy wall street. The financial markets reacted predictiably to the perverse incentive of Fannie & Freddie buying sub-primes like candy. The melt down was predictable and was predicted by many but the Democrats interferred with and down right blocked any attempte to stop the train wreck from happening. I have heard only one of them apologize for flushing the world finacial system down the drain and possibly financially ruining millions upon millions of people. Who to blame?, start with Frank Raines and then go to Senator Chris Dodd and Representitive Barney Frank and the rest of the congressional leaders who blocked the attempts to stop it.
Glenn Blum
ALL of the politicians need to go, without any retirement and the lavish medical care they would recieve. Could you imagine splitting 700 billion dollars up to all the tax payers, then taking that money and allowing folks to pay off their loans, bills and credit cards. Then our nation would be back where it should be.
bill
Can you believe it? 85 billion for a bailout and a week later AIG spends $440,000 on a retreat. Will it never end?
Phil Poulos
I URGE YOU ALL TO SEE THE MOVIE, I.O.U.S.A., PRODUCED BY THE AGORA FOLKS IN BALTIMORE MD. ADDISON WIGGIN, BILL BONNER, ETC, THEY HAVE BEEN TELLING US SINCE 2004 THIS WAS GOING TO HAPPEN. IMO, RON PAUL IS THE ONLY ONE IN CONGRESS THAT UNDERSTANDS ANY FINANCE STUFF. 2004?, YES, 2004!
Terri from Atlanta
I think the entire of Washington should be fired! They are all a bunch of idiots or crooks or both! If you add Nancy Pelosi, Harry Reid, and Barney Frank's IQ's, you might get 10 total! And Bush has just given Obama the keys to the Oval office with this stupid economic disaster!!!! Way to go, W!!!!!!!!!!!!!!!!!!!!! And EVERY CEO, CFO, COO, PRESIDENT, AND VICE PRESIDENT of these companies that are in need of money should be FIRED WITHOUT ANY EXIT PAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Period! End of story!
Dwayne
All of them
Bruce Magee
Not a one of my Senators or House Representatives will get my vote when they are up for re-election. They are not listening to the people they represent and they have bowed to and are harboring the people who got us into this mess in the first place. To all the Financial CEO's who helped this along... Jail Them! To all the mortgage brokers who catered to the Greedy and duped the un-educated... Jail them! Power to the People, We have the means to right this wrong. VOTE with an Educated Vote.. Don't just vote for the popular guy.. whether that be McCain or Obama... Maker your Vote Count !!!EDUCATE!!!
Olga MA
Barney Frank, Reid for the pork he added in the bailout, Dodd for corruption. Then arest all the AIG excecs and other CEOs and send them in a long-long special 'retreat' in a state jail for a long time. Make sure they don't have 100 mills when they come out. Get Paulison and Ben Bernanke out and bring in the real money brains - people who made their own fortunes the right smart way - not through decit and corruption. Let them find a way to 'save' whatever can be saved and allow some of them to fail
Smith
Dump anyone who voted yeah for the 700b bail out plan, including Obama and McCain. Everyone else straight to jail, minimum mandatory sentence 700 billion days.
Jason
I think we should send a message to our congressional leaders by voting against the incumbants. What can be worse, a new set of heads on the hill without the excess baggage of the past 16 years or our current situation of blame the other party and hope your constituates have lost television reception and gone blind and deaf. Administrations are not to fully blame since it is Congress, as per our forefathers building of the government, that has the power to legislate. I think our society today resembles what happens in Congress, and why not, we not only keep sending them back, we support them by sending money and doing nothing. Take a pledge and send all challengers to congress and we might see a change that if you mess with the people, you will feel the dire consequences. Long live our government, who are forefathers set for to build this great nation.
Randy
Remove Pelosi,Barney Frank, Chris Dodd, Chuck Shumer, impeach or remove by force anyone, Democrate or Republican, who voted against or helped defeat Bush's attempt to reform Fannie Mae and other financial problems. PALIN FOR PRESIDENT!!!
mike p
everybody in congress should be voted out especially barney frank,chuck schummer,chris doddand joe bidden
Erma
Christopher Dodd first and mostly, Barney Franks, Nancy Pelosi. Even after AIG got bailed out they partied hearty with the bail out money - they all are dispicable.
Charles Stefan
I don't know how to get rid of certain responsible people in government if its even possible except to vote them out of office (fat change), but here's my list; Sen. Chris Dodd, Barney Franks, Speaker Pelosi, Sen. Harry Reid (How's he profitting from Nevada real estate these days), to start with. What is missing in this governemtn self-inducted financial situation is correcting structures that were repeeled by Congress and signed into law by past presidents. These are: Re-institute the Glass-Steagall Act (separates commercial banking from investment banking and the insurance business) Make Fannie May and Freddie Mac private mortgage companies, not backed by the U. S. Government I like Dave Ramsey's recommended changes to address the home mortgage loan and cedit problems in place of the bill just passed by Congress and signed by President Bush. His recommendations are available on his Web site at: daveramsy.com Briefly they are: Insure the sub-prime bonds/mortgages with FHA type insurance. Some changes for companies to do before accepting government-backed insurance. Cancel all golden parachutes for companies holding government-backed insured bonds/mortgages. Mark-to-market: Remove existing rules for two years on only subprime Tier III bonds/mortgages. Creates market patience and stabilizing effect. Capital Gains Tax: Remove capital gains tax completely. This action will flood the real estate and stock market with invsetors in search of tax-free profits. I tried to bring Dave Ramsey's recommendations to my Nebraska congressional representative attention but problems with the House email system prevented timely delivery of emails. Personally I don't think that anyone in Congress or the White House is interested in fixing the home mortgage loan and related credit market situation. And I don't hear any pundits talking about finding the source of the problems and proposing any fixes, either good or bad. This is my 2-cents worth of advice.
Aaron
Start with Paulson for his original three page piece of toilet paper giving him full, unquestionable authority. Second, Bush for even thinking about Paulson's idea. Barney Frank and Chris Dodd need to be removed from their leadership posts. Dodd needs to be investigated.
Lynne D.
Get rid of both of them as well as everyone who voted for the damn thing.
Abigail
Franks Dodd and Obama. Obama helped acorn change the lending practices at banks in a lawsuit in chicago. Acorn then with the 780 million dollar budget provided by the tax payers via the democrats forced irresponsible lending trough out America.
Charlie
If nothing else happens out of this mess Senator Harry Reid should be slamed for adding $110 Billion worth of PORK to the Bailout bill. I am totally ashamed that the American public has not called him out on this one singular issue. OUR TAX MONEY and he just dumps it around like Halloween Candy. The biggest is the best $480Million to California, and then the TERMINATOR has the gaul to come in and ask for a loan of and additional $7 Billion from us the tax payers.
MAC
Clean the HOUSE !!!
Mahw
I think they should just give the people the money. Just think, if each American got a part of the cash everyone would be debt free and presto! no more credit crisis or morgage crisis. I know its not as simple as it sounds but I still think it would work.
Michael Everett
There are many people who should get the boot. Lets start with the 535 members of the United States Congress. They are the fools who make these laws and regulations, then do not do a damn thing to see that they are enforced. From there, take your pick. Chairman of the SEC, Greenspan for keeping to much money in the financial system to long, Bankers, Mortgage Bankers, Investment Bankers and last but not least the American Public itself. This financial mess we find ourselves in is the making of all of those people mentioned above. But isn't just American to try and convince ourselves it was just one person or thing that created this mess??????? Wake up America, you screwed yourself!!!!!!!!
Jason Campbell
Replace them both with Mitt Romney and Steve Forbes. It is a shame that these two great minds were not elected by the ignorant masses. These two could really get some good things done. WHY IS NO ONE TALKING ABOUT CUTTING GOVERNMENT PROGRAMS AND TAXES?!!! When our families get in debt and financial trouble we spend less and scrape to earn a little more. WHY SHOULD THE GOVERNMENT BE ANY DIFFERENT?
bill
Leave all of them in Washington. Let them have their mess. Secession Looms!
john
It is a disgrace that bernanke has allowed the integrity of his position to become a political battle ground. We get bernanke, and the chinese get robert barro of harvard. Real Fair. Bernanke is doing all these things for political reasons, from a position that is suppose to be free of political ties. I would fire him in a moment. Paulson should be fired. Reasons obvious.
G in California
If anyone using 4th grade math can SEE that these govt. funded programs are destined (designed?) to fail, then why is our eonoomy being set up to crash? What -- is there another country out there ready to buy us up?? What else are we supposed to think when it's so obvious this bailout will do NOTHING but put the nail in the coffin. Time to wake up to what our govt. (both sides are culpable) has been setting us up for all these years. Only it's out in the open now, whereas before it was hidden. Good to finally face the enemy within (and wonder who's behind the scenes...)
Rich White
After the ACORN office raid in Nevada, I think Obama might need a lawyer. The people that put the 250 million earmark for ACORN in the Freddie and Fannie bailout bill and the Senators that tried to add an equal amount in the Economic Recovery Bailout bill should be the first to go ... to JAIL. http://elections.foxnews.com/2008/10/07/acorn-vegas-office-raided-voter-fraud-investigation/ Funny how this isn't being reported in CNN or MSNBC.
Charlie Barker
Comments by Michele H. are pretty good! Barney Frank, Chris Dodd, et al, should get the boot. Their re-distribution of welath scheme is bad for this country. In fact it is the teaching of Karl Marx, the anti-God fellow that believes religion is the opiate of the people. Guns and Bibles.umm..does that have a familiar ring?? Oh yes, enter Obama.
Steve Schwimmer
The corrupt congress needed to add 150 billion in pork barrel spending in order to pass a bailout of a situation they legislated into existance. Any one that voted for this travesty should resign immediately. That the people who supposedly represent our interests needed to be bribed in order to consider voting for legislation that will not take effect for three to six months except the recipients who are the beneficiaries of the bribery.
dgreatone
Who should get the boot? Everybody on the US House and Senate Banking Committees and any committee that oversees Fannie and Freddie. Start next year with some fresh, competent eyes.
Dick
Boot all the Democrats and definately don't let another one be elected President. They are the ones that originated all this mess when they created the CRA.
Don
Any and all politicians who voted for or this bailout or government officials who suggested it. Most important, the entire Federal Reserve system should be scrapped, just like JFK was trying to do before he was killed. The Federal Reserve is the factory in which inflation is manufactured and the value of our money is thereby debauched.
Dave
Politics aside, every person involved in these companies that have "failed" should have their assets seized to pay back the public for bailing them out. It's all been a "I didn't know what was happening" excuse for these people. Take everything they own and sell it off to pay back the the american people for their failures. These people were paid way too much for what they did and they didn't do their job. No excuses. I'm tired of hearing excuses. If I didn't do my job, I'd be fired and not get any bonus for not doing my job. Put all of them into poverty and see how they like it.
Tim
Any of those individuals who created this mess and are now attempting to sweep that very same mess under the rug. That, my friends, would be none other than Mr. Paulsen and any other of his manipulative croanies who assited in this...well...lets be blunt...government backed master-plan. Paulsen deserves the boot...if "boot" is an implication of an unpleasant future, non-existant life outside of a cell and a new yearly "income" that is equivelant to that of his entire wealth and assets LEAVING his possession and being re-allocated where it's amounts are needed most to ACTUALLY aid in funding a REAL solution.
diane
Expose both Democrats and Republicans involved in this mess. Pelosi, Barney Franks, C. Dodd, Paulson and the list goes on and on. This country is headed toward Socialism and it that has placed the fear in me. Obama is the scariest one of them all!!
Earl Nutting
Remove all 535 members and replace them with 535 "Joe Six-Pack's". They couldn't do any worse. We would probably save money due to all of the graft, theft and/or corruption that is going on.
Pete S.
This entire episode is an example of prostitution in politics. The so called representitives of the people can be bought for a price on almost any subject. Look at recent events. The Dems tried to get a bill passed quickly to cover there past failures to regulate the housing market. The Republicans wouldn't go for that, but they sure did once the pot was made a little sweeter. There should be investigations into the actions of all of the Congressmen and women who supported allowing people who had no business buying to get a mortgage. Last I looked there is NO constitutional right to homeownership.
bill
The "Blame Game" is great and the Democrats and Republicans will be glad to play it for you where the final outcome will be a draw where no one is to blame. IN THE MEANTIME........................... They (rep and dem's ) will have you watching the exciting game so you don't watch what they are doing now. You think they fleeced us befors? You "ain't see nuthing" yet.