McsweeneyP 02:46:06 PM Jul 06 2008

I can't believe how out of touch our politicians are. They want you to think that people caused this problem because they bought more of a house than they could afford. Fact is, the banks had a program which allowed people to qualify for a loan based on the first years lower rate. Theory was that people could qualify at the lower rate. As the rate increased over time, the individuals would gain equity in the property, would have a salary increase or could just sell or refinance the home. There was nothing wrong with this program. It helped many people get a home. In the process, the fed tightened their credit policy making it more difficult for the same people to refinance. Their rates went up, they were unable to refinance due to tighter credit and got behind in payments. This caused their credit to deteriorate leaving them with no choice but to give the home back to the bank. Our government allowed this to happen and frankly didn't see it coming. Why isn't there more press

KHOD3 01:10:32 PM Jul 06 2008

The banks have "lost" a trillion of your dollars but we are bailing them out? Bush Cheney and Clinton all have luxury homes in Dubai and we have three million homeless? Maybe someday Americans will realize they've been screwed blue since birth and hang a few of these CEO's off lamp posts. That's the only way to get their attention now. Washington is just where 34,000 "lobbyists" buy your graft sucking representatives-millions every year. It's the system and it's breaking now. Gold, silver, nice land, commodities, oil funds, the smart people are all out of the USA just like Bush, Cheney, Clinton bought property outside.

Kidcat24 08:53:58 AM Jul 06 2008

Ok, let me see if I have this right. McCain's plan is we will help you as long as you were credit worthy when you got your original loan. Wouldn't everyone have to be credit worthy to get a loan? You mean to tell me the banks were giving loans to people who weren't credit worthy. Oh ok don't go after the banks for shady practices.