Where Bailout Money Goes to Die

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I have done everything correct, but the 60% pay cut and loss in propery value has killed me. How long is too long to hold on. Do I use all resources and have nothing to hold on to, or do I give up now and save a little money?

h of IN 2:17AM November 14, 2010

I am writing a paper on the "bank bailout". I have been looking for days but cannot find the "reasons" for the failures of these banks. I realize many things were factors but was it mainly due to lending to less than eligible candidates, subprime mortgages?? I can't find a source that really explains the downfalls. I can find what banks were bailed out, which are and are not paying them back and how much the government spent. I need to find some "history" on the downfalls of these banks. I appreciate any help offered.

RD of MS 6:43PM May 14, 2010

In January of 1973 Richard Nixon carpet bombed Cambodia, killing over a million civilians. The American people didn't give a rat's ass. Now America is broke. There is a God.

johnny dawson of CA 5:45PM January 17, 2010

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hadleighfe of CO 12:38AM November 24, 2009

These irresponsible people being led like lambs to the slaughter did not show up overnight. Over four generations I have watched the disintegration of the family starting with both parents working to be able to afford more goodies. I have seen prices running up to neutralize the extra income gained by both parents working to achieve 2 cars and bigger houses. I have seen the decline of morality and justification for this by those doing it along with divorces, broken families, no fathers to teach boys to be men, women trying to be men and men trying to be women. All of this gets societal approval with each consecutive government. Children are getting dumber from lack of responsibility in the schools and control of the money pot by special interests. Electronic fun takes the place of social development. Information comes not by study but by media controlled bits. There is no "truth" any more.
This is a great arena for the unprincipled to step in and muscle their way around. We are standing by apparently helpless watching our own lives come crashing down with proven bad policies and idiotic spending. Even a fifth grader knows that...even a US 5th grader.
Unfortunately, we seem to be past the point of rescue. The politicians guarantee their elections with sellouts, media control and an uneducated public. (Incidentally our electoral system was designed to counterbalance an uneducated public with informed electors.. not sold out electors).
Well, history tells us what is next.

Jack of CA 8:29PM November 09, 2009

Having lived and worked throughout the world during my working life we saw what the Governments do in places like Argentina, China, Italy, France Etc..
They subjugate the populace with socialistic or communist programs that results in corruption and greed, where individuals in power garner great wealth to the detrement of the general population.
"The public be damned" is their motto and without shame or feelings of guilt they go on their merry way doing the same things over and over again.
There is no accountability nor are there consequences for these individuals.
So... here we are in the United states of America and guess what? We are seeing the same behavior!!! In my 76 years of life this is the worst I've seen!!
It is shameful, a country with so much potential being ruined by lack of accountability for corporate officers and elected officials alike.

Anthony P. Varanelli of CA 11:03AM October 29, 2009

To answer the question, why were so many houses being built.... and who was buying them? Here it goes from my point of view, firstly, there is money to be made in people that cannot afford a home or even a new car, this is called hedge funding, you sell these items to a consumer that by no means even credit wise deserves these items and you do it in a most amusing fashion, high interest rates, balloon mortgages.. Knowing all the well that these are questionable mortgages being written, but the rates that can be gained from writing these mortgages makes someone very rich. Why else would there be a market for these mortgages?
What ever happened to being responsible? It appears that there is more help for someone whose been the most irresponsible, high credit card debt will get your home mortgage restructured but someone whose job has been directly effected by this economic "slump", well you'll have to tough it out.
I hold out the belief that American's will grow so tired of Government taking such a role in our lives, that We'll get smart and realize the only bail out will come from us and make wiser choices and not condition ourselves for indentured servitude to credit card companies and mortgages we cannot afford or new cars fueling more and more corruption.

Dawn of AL 12:45PM October 07, 2009

...for the past several years as the housing market boomed I kept asking WHY were so many houses being built and WHO is buying them? It just didn't make sense to me since our area was in a downturn and we were suffering great job losses. Well...now I guess I know - even dumb little me saw through the scheme. WHERE on earth were the so called "experts"? And look what's left - the lowly taxpayer bailing out these "expert losers"! I personally resent it! Taxpayers cannot possibly foot the bill for losers like this and lazy people who don't want to work, i.e. Obamacare.

Angel of OH 7:40PM September 09, 2009

As a long term analyst of financial and economic affairs - I saw this coming for a long time.
Repeal of the New Deal legislation that long prohibited the banking and securities industry overlap was just a start.
The banks control Washington and have for some time. The repeal of the 1907 laws (in the year 2000) that prohibited credit-default swaps - was the final coffin nail. What made matters worse was an initial denial of the problem by the Regulatory and Congressional branches of government that had advocated the changes.
Banking executives will rake in further hundreds of millions in personal fortunes from the stock options they took for themselves as the bailout monies were pocketed. When these same taxpayer billions prop up their stock price, they will rake it in again.
Tarp transparency was and is a joke.
How could such a large part of the government turn a blind eye to these problems that they thenselves helped to create?
The repeal of the affected laws, fiscal sanity, public outcry, complete TARP transparency, and strong moral suasion is just the medicine that is needed. Otherwise, the USA is doomed to become a colony of China.

rich bryant of IN 12:46AM September 03, 2009

I am a financial analyst, and some of the above was either incorrectly presented by the author, or has not been thouroughly analized by Ethisphere. Can someone present a more co-herent analysis, one that includes assumptions used in the modelling, or better yet an analysis from using several sources.

Howard B. Waxwood IV of NJ 9:44AM July 29, 2009