Just my opinion... but I don't think that there are a lot of banks that are going under if nothing is done... most have a good amount of capital and can absorb the losses...
And a lot of the losses are in CDO and CMOs, and why should they be bailed out?
Will it hurt, yes, but I would be the economy will be stronger for it...
And on one of the shows that had a 'poster boy' on the bad lending had a house that was PAID FOR, but got a mortgage on it so he could 'buy stuff'... now his house is being repoed and he is blaming the lending people... WHAT HAPPENED TO THE MONEY  ? He spent it..
And how many of the people should not be in their house anyhow
The banks will make concessions to the borrowers if they do not want to take a bigger loss... and if the person is not a good risk, then they should not have made the loan in the first place....
I do NOT want any of my taxes to bail out anybody... this is not something like the S&Ls where the depositor was who was being protected... but the S&Ls went under...
SO, let the banks take it in the chin.. if there are some that go under, then someone else will be there to buy it and keep it going... that is the system we have and it has worked well for a long time..
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