so much for the housing bailout

[glovesetc]

http://www.charlotteobserver.com/bus...ry/320169.html



evidently the banks troubled mortgages are not included . Seems to me without a housing recovery it is going to be gard to revive the economy . The bailouts just keep coming as well and todays list of elegibles now seem to be GE , Hartford, and Provident insurnce .The best is always saved for last - Toronto Dominion bank also was added to the bank list cause they have a small banking presence in the USA. I will avidly await tomorrows list as Sam the Shoemaker ,Daves Deli, Betty the Baker ,and numerous other companies will probably be added as well . Guess it never will end and frankly at this point I could care less . Bail everything , every business and everybody out including bordellos and crack dealers - leave no business wanting for anything .



P.S. I told my grandson today you have no idea what the tax burden you and your wife are going to have in the coming future .

[N&B]

The paradigm has shifted from business to the people. We'll see more Credit card relief and auto loan relief rather than the off-balance sheet, hidden books. However, be prepared for a 20% interest rate and a 33% delinquent rate.

Even the gummint can't read those CDO and CMS contracts and doesn't want to sponsor the crisis they caused by allowing housing for everyone without adequate regulation in place. Yeah, this was gonna happen, all one had to do was peek into the process on C-SPAN in the last few weeks, with the riot act being read several times in committee. Mr Franks read it at least three times in one day as I recall. And the Banking Committee WAS remiss in its duty.