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Posted by: CHAM 1 year, 1 month ago

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    CHAM1 year, 1 month ago

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    I have heard many statements calling for stabilizing home values. This is a very necessary thing but Obama in the last Debate really hit it right although it must not have resonated with anyone other than me, or I could be wrong.

    He said " Stabilizing home prices is very necessary, but healing the economy is the first priority, because if people don't have a job, a means to pay for their homes, money to buy food and other needs, it won't matter what the home values are".

    When we bailout the loan companies, those high priced Corporate people will be rescued, the stockholders of those companies can avoid income loss, but that doesn't mean that any of that money will go toward improving the economy. They, the financial companies can whithold that money waiting for more favorable returns, whether they be in America or the Far East. What is to stop them from sending the money just taken from you and me and investing it in India if they can get a better return?

    Didn't we get in this mess because these Financial Corporations were chasing after the highest return - to hell with the risk?

    The people who got us here need to go to jail, because they took our money directly ( deposits, 401K's, etc ) and indirectly ( loans from the Fed i e. taxpayers money ) to make high risk investments for themselves.

    Credit Companies need to be brought under control. I wrote a paper earlier this year concerning Capitol One. Their largest single source of income last year was penalties and hiking interest rates for nefarious reasons. In my case my interest was raised from 6.9% to 12.9% although I hadn't missed a payment or been late on any card or loan for anyone in the seven years that the Credit Report covered. My Credit score was excellent. I had the cash to pay off the loan so I did. Many people are not so fortunate. I was unable to get a law firm to take my case and help me get a couple of other people to go together and file a class action suit. All the law firms said it would be very expensive and might not be winnable.

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