AIG, Lehman Turmoil Bump Mortgage Rates Higher

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I really don't understand why a government has to bailout a private company. Let them fix the mess they got themselves into. $700 billion bailout???!!!!! That is just way too much money based on pure speculation.

Julio of NJ 2:28PM September 29, 2008

The current bailout frenzy is completely ridiculous since the markets are working perfectly. A free-market economy automatically compensates for poor management, bad investments, fraud, etc... by turning negative as our markets have done. The bailouts negate the proper functioning markets which in turn will cause rampant poor conduct and eventual collapse of the markets AND nations. This junk they call securities consisting of poorly approved mortgages was bound to fail from the beginning and bailing them out will cause the housing market to crumble with inflated values, increased defaults, rampant refis, etc... everything which caused this problem initially. We MUST allow the markets to operate independent of our intervention or risk complete collapse of our nation. By eliminating risk via bailouts, we create a wide open anything goes scenario AKA CHAOS!!!

Ray Fisher of NM 9:37AM September 19, 2008