Wall St and DC dont have politics. Thats a bill of sale they sell to folks like you to keep you distracted.

Wayne is spot on. This is about CDOs and stacking leverage like a pyramind scheme.

You make the banks sound like an innocent victim of the “Democrat and elitsts” How sad and deluded you are.

The banks are essentially financial terrorists and the GOP and Dems alike are their tools.

They raped *hundreds of billions* out of the economy (GLOBALLY) in the form of CDOs and have now essentially privatized the US economy and shattered the concept of home ownership in the US.

Home ownership was the *one* source of “wealth” for the vast majority of Americans and now the banks found away to stage a hostile takeover of it after having bled it dry through the endless stacking of artificial leverage.

You need to do a LOT of reading about what is being discussed to understand it. Look up Special Investment Vehicles, Collateralized Debt Obligations, Credit Derivative Products, Credit Default Swaps and Tranches. Look up Dark Pools of Liquidity, Alternate Trading Systems and ECNs. Then look up the recent history of JPMC, Bear, Goldman, Morgan et al and their relationship to both your precious GOP and the Dems.

Saying “I disagree” followed by total ignorance is the *actual* “problem” in the US

Folks here dont mind that though. Only me and you. Yeah ok then… You did the right thing.

We are all in the same boat…

So a mile from me are homes that were $2M+. Folks there bought up a storm… HUGE jumbo notes with like $1 down.

They risked zilch. They paid for a while. Now they walked. 7 year credit hit? They dont care. $100k in credit card debt too.

Like you guys… wife and I put *30% down* on a *normal* house. ZERO credit card debt.

Now? Equity is GONE. Still owe the bank the full amount as if the house was at PRE CRASH value though, and yep… they want their interest.

And WHY is the house worth nothing? Well because of the bank lending to the a-holes with the $1 down.

That is criminal.

That people here can somehow try to hang guilt on folks like us is DISGUSTING.

So if you were *IRRESPONSIBLE* you get rewarded. If you are RESPONSIBLE you get to eat endless pain.

And that is fair or healthy how? And that inspires young people to be responsible how?

WHY is there NO talk (even years on from the collapse) of forcing banks to adjust PRINCIPAL?

Interesting question, eh? ONLY the idiot that continues to pay the mortgage realizes the loss. Bank still gets paid on the pre crash value (with interest) And THEY caused the crash. Walk away and they get the house.

Yeah… that deck isnt very loaded

There’s a prize at the end maybe? I guess the prize is they get to feel good about themselves. Maybe they’ll give you a cookie.

The idiots who borrowed 10x what they make? They get bailouts and get sympathy because “hey, they cant afford it”

Banks and Wall St? Bailouts galore and 9 figure bonuses

The humps who keep paying $240k for something thats worth $100k after their $100k down payment has already evaporated, and pay it WITH INTEREST?

You get to “feel good about yourself”

THIS Is why the country is collapsing for the morons that dont get it. Because rank and file idiots like are posting here would rather hold their FELLOW CITIZEN accountable than hold the BILLIONAIRES ACCOUNTABLE

Explain to me how paying more money than something is worth for 20 years when your 20+% downpayment washed away makes ANY kind of sense?

WHERE is the banks risk? They have *none*. Id like to see what you would do if you were upside down. You’d almost certainly be proven a hypocrite. You are either not upside down or you rent, so get off it.

Paying TENS OF THOUSANDS to scumbag Bank of America for zip doesnt exactly feel good. the reason the houses are upside down is because THE BANKS flooded the market with bad paper. The IRRESPONSIBLE borrowers get bailouts, the BANKS get bailouts and the GOOD CUSTOMERS get to go bankrupt. Then, once they do, people like you will say “ok now you can go”

yeah, no thanks

Forget “irresponsible borrowers”. We’re talking about the RESPONSIBLE PEOPLE here getting screwed. Folks who put HUGE money down and are now SLAVES to the scumbag banks that raped this country.

How ANYONE can defend them, unless they WORK FOR THEM, is beyond me