We're screwed, folks. The bailout is only going to delay the inevitable.

[rateyes]

The richest shits in the world bet on economic disaster, and then profited in unimaginable ways by forcing it to happen.

IMO, Obama should come out and say that we need to declare Credit Default Swaps illegal, and that all such instruments in existence right now are null and void. Then, the bank that is stuck with a bad mortgage because of their predatory lending practices should be forbidden to foreclose on such a home, and refinance all of those homes at current REAL market value at a fixed rate of 5% over 50 years with no penalty for early payment. And, every person who has made payments and not defaulted should have their interest rates on their loans lowered to 3% with no fees or points.

[Sedona]

1. I like your plan k&r n/t

[Bluenorthwest]

2. As long as

those of us who did not play this game are also able to buy homes with 5% 50 year mortgages or even better the 3%. Rewarding those who helped this happen via personal greed at the expense of those of us who would have nothing to do with it would suck. Oh, and the current prices are not REAL prices, they are just today's prices. The real prices are still way down the ladder.