The issue with many is they can’t. They’re in over their heads income wise pumping money into homes that are underwater.

Tis a mess anyway you slice it…

I would…

8:

The management failures of these executives is a blunder of incredible proportions. Chief, blunder was the belief that if the people defaulting on their loans could be replaced by an entire group of other borrowers. The bankers set the borrowers out into the rental/homeless market which raised the Supply side of the market, lowering housing prices. I remind you of the supply/demand aspects of economics. These bankers then through a bungle of phenomenal proportions left their assets without a caretaker.

Frustrated with faceless bankers, borrowers, the care takers of the real estate, having a keen interest in it, were set on the curb. Some out of frustration left these assets by punching holes in the walls, destroying the heating systems and the like. Although this may have been a relatively small amount of destroyed properties, the remainder of properties were left empty and targets of vandalism, arson and criminal recyclers. In retrospect, the executives should have renegotiated terms with the borrowers. They then would have continued to receive repayment of the loans and protected their assets. Instead, of taking the more reasonable route, out of greed, they allowed–through their malfeasance and greed to put these caretakers of their asset into the rental market (or back on family and friends) and exposed their assets (real estate) to the aforementioned degradation of abandonment. For sale signs went up all over America which drove the price down so the bankers failed to reap the benefits of reselling even where the properties did not fall into the hands of squatters and vandalism.

The executives, drawing unimaginable salaries in the millions, can only be described as HEARTLESS in their actions, bringing about the nose dive in market prices and allowed their assets to be destroyed. Now they are reaping the whirlwind of their own greed, karma of sorts. They kicked the cards out of their own “pyramid scheme” of greed. They brought their own house of cards down. Rewind, had they renegotiated the loans creating terms that would have allowed the borrowers to stay in their homes, then (1) The supply side of the market would have remained steady (2) the assets would have remained intact (3) the loans would be repaid, albeit at a reduced profit.

Buyers of the instruments, sold upward in the pyramid of greed which allowed the loaners to reap an immediate profit, placed a bet on the paper which was over valued, making what should have been a sure thing an incredible gamble in hind sight. Their own greed and HEARTLESSNESS toward the borrowers in favor of the writers of these instruments, brought about all the collapse. Now to put more money into the hands of these HEARTLESS executives in what I can only describe as the largest EXTORTION in the history of mankind.

Citizens (to include the unborn) are being told (not asked) that we must bail out the Titanic. The credit rating of these failing firms has gone into the tank. The shoe is on the other foot. Those defaulting on their loans face never, never, never being able to enjoy the American Dream of owning their own home. The bankers put a huge F on their report cards. In the process they have ruined their own credit. WE THE PEOPLE can not just GIVE a blank check to these executives (who have already taken their huge salaries/profits). We must look at their credit rating now and determine if an investiment in their affairs is wise. The same set of circumstances under which they operate in regards to their borrowers. Isn’t HEARTLESSNESS really called for here? If forgiveness should apply to Main Street, shouldn’t forgiveness apply to all borrowers who are similarly situated.

While these bankers have made people live with their credit rating in a unforgiving manner, these folks now must live with their own bad credit just as these folk expect us to do. Reference the commercial showing the fellows serving chowder in a pirate’s bistro, or the same characters driving off the lot in the sub compact car that gets laughed at by jet setting Paris Hilton types.

As with any real world citizen who has gone bankrupt, might a lengthy waiting period apply? Okay, lets waive the waiting period, but make this “bail out” a loan to be managed and overseen by regulators rather than another big government give away! Might the regulators actually side with the consumer and have his interest at heart rather than having the interests of the bankers at heart as has been the bad state of affairs.

Sadly, his suggestion is far too sensible for the wonks and econotards in Washington to actually consider it.