Comments on: Why there's a crisis – and how to stop it

By: Terra Hoskins

Terra Hoskins — Mon, 13 Oct 2008 22:09:36 +0000

Thanks for the big picture on this. I've been trying to understand how it all fits together...

I guess it doen't matter now, but I really wonder how the market would have responded without the drama of Congress passing the bailout. What would have happened if the government hadn't intervened? What if the banks had declared bankruptcy? I know it would be a bad scenario any way you look at it, but would the market have corrected faster on its own?

Seems to me that policymakers are making this worse. But I don't know - governments around the world are pumping money into banks. Where is this money coming from? Is that going to make the situation worse? What does it all mean?

By: Maureen O. From Apple Valley, California

Maureen O. From Apple Valley, California — Mon, 13 Oct 2008 21:59:27 +0000

I think the problem all started when people used credit like free money and not for an emergency. Then banks gave people loans for houses,cars,college,etc. to people that can no way of paying the loan back. By the world trying to live to out beat the Jones' they have just committed financial suicide.

By: xtina, chicago IL

xtina, chicago IL — Mon, 13 Oct 2008 21:47:31 +0000

The mistake was a liberal Congress forcing banks to give loans to people who can't pay them back. Looks like our country needs to be alot more conservative in establishing our lending criteria.

By: Rainer Oberndorfinger, Coral Springs

Rainer Oberndorfinger, Coral Springs — Mon, 13 Oct 2008 21:33:21 +0000

Oh yeah...they don't have financial problems...

By: Rainer Oberndorfinger, Coral Springs

Rainer Oberndorfinger, Coral Springs — Mon, 13 Oct 2008 21:29:12 +0000

Anderson,

I know that most Americans are scared s@#%less by the word 'socialism' and some Republicans (and Democrates) in Congress have stated that very clearly over the past few weeks. Look what happened. When the government stepped in here in the U.S., people got scared even more, the markets (almost) crashed, and the media fueled panic. Over the weekend, the Europeans got together, stepped in, people STOPPED being scared, and the markets recovered. It's a matter of trust in the ability of the governmental system to take care of a problem that affects the PEOPLE. Here it has neither been honest about its motives nor about its national responsibility. Patriotism is like a religon. The common believer is dedicated, humble, and honest. The one in power uses it as a tool...and he and she fool themselves. How do they still sleep at night?

By: earle,provincetown

earle,provincetown — Mon, 13 Oct 2008 20:42:38 +0000

Just go back ,and look at the "Fab Four",yes sir, I'm referencing,the"Den of Theives",(Boesky,Milken,Freeman ,and Siegal &Co.). They did their bidding in the," Hi Yield Junk Bond Market 's",and that my friend is all about Commercial Paper. This is the only reason for the bailout,because I believe Boesky's been doing his thing in Europe(Germany/Russia)since his bannishment from the U.S. Markets,thus teaching them all the tricks of the "Trade"(for a fee) ! Secondly, the Brainiac himself Michael(The Professor) Milken, has a select group of geniuses from around the world as his premier student's enrolled in his "Charity of Venture Capitalist School", developing,and mentoring all of them in what they can,and can't do (raising cash/deriviative incubation),during the past Decade,or so! The seeds were planted, and sown . I personally believe their unscrupulous (Boesky/Milken,etc)meddling in the world's market has a, "Great Deal" to-do- about why were here? Today's 1,000 pt. Dow gain is just a dead cat bounce for more sucker's, created by a massive short squeeze . I apologize for my cynicsism, but it's only my grain of salt melting away. Thanks for listening....

By: JC- Los Angeles

JC- Los Angeles — Mon, 13 Oct 2008 20:26:32 +0000

The culture of corruption that swept post 9/11 America is what needs to be addressed if our nation is to reclaim its once lofty position.

Today, hard work, sacrifice, honesty and integrity are traits that are all too uncommon; operating in the gray, cutting corners, chasing a buck and ego-centric behavior have become the norm.

I thought we implemented Sarbanes-Oxley so accurate corporate reporting would become the norm; how are restatements and writedowns not violations? hasn't everyone violated this law?

Right is right and wrong is wrong; laws are to be followed and not exploited; loop holes are to be closed and criminals punished.

Our leaders better act fast or we'll need another $700 billion to address universal healthcare fraud.

By: Clarence Albuquerque

Clarence Albuquerque — Mon, 13 Oct 2008 19:40:16 +0000

Whatever the paper instruments are meant to forstall or cure, it seems that many other nations are doing the same thing.... someone has to know what is all about. Sometimes the technical language seems to loose some of the message. Is there any way to report in more down to earth language? I have a feeling there will be a lot more technical dialogue before it "trickles down" to the common folk.