"The average middle-class taxpayer, I figure, could also use a little bailout right about now..." overlooks the fact that the average middle-class taxpayer is often part of the problem. Used to be that before you could get a mortgage, you needed at least 10 or 20% down. But, in order to get more people into homes and make more loans, you could get a mortgage with 3% or sometimes even 0% down. If you got one of those, you already got your little bailout! If you got one of those loans that required little or no documentation, they you got your bailout.

Sure, we thought it was great that we could afford more house, or buy a house without saving up so much money. But did we ever consider the fact that there would be some who would take advantage of these loosened requirements?

Sure, the regulators should have demanded higher loan standards, but we didn't raise a voice of alarm, either. We just took the loan, considered ourselves lucky, and moved on with our lives. The people who should be upset are those who paid the 10-20% down on their conventional, fully documented mortgages.

Why do "the experts" try to con us into believing that lower home prices are a bad thing?

Prices have been far too high; finally the free market has threatened to make them affordable, and the "experts" wring their hands and try to force prices up again! I pity the young couple trying to buy their own homes today; they seem to have well-organized opposition by profiteers.

Let home prices fall 'til all workers can afford a modest place of their own!

Worthiness need know no boundaries. The rich often do seem to have special problems staying humble, just like the famous etc though. Still everything is possible, and camels may even go through the eye of a needle with God's help. There have been great people who have been rich, but they were not worthy BECAUSE they were rich.

Those of more restrcited levels of income sometimes idolize the wealthy as though wealth were a measure of righteousness. Poverty or wealth are not necessarily measures of anything. Worthy people are worthy independent of financial circumstances.

What is lost in all this (and in Lois's case obscured) is that this money was not stolen. It was loaned to people who were trying to by a house. These financial companies are going under because they are holding an inordinate amount of bad mortgages. People who can't make there mortgage payments are not rich. Obviously many of these loans should have never been made.

What we need is an investigation in to why so many people who were not credit worthy were given home mortgages.

Lois knows, or should know, what this crises is about, but rather that inform her readers she would rather demagogue. It might make for a frothy read, but it is not good journalism.

To goodbuyersmarket: Right on! What's wrong with low home prices? Aren't astronomical home prices just as bad?

Does it make sense that Bush says every many woman and child has to loan the banks $2300 interest free (maybe big negative interest) - Why? So some of us can get a car loan from them at high interest? I think we should charge these banks fair market rates. What would they charge a customer who had recently defaulted. A lot more than 16.99% I bet. And don't forget some big fees if their payment arrives one day late. Bernanke and Paulson are using blackmail and extortion when they say give us 700billion unreviewable immediately or there will be a recession. As if our not doing so is going to be the cause of the recession, not their failed greedy gambling. Then Bush says: There could be panic, then paints a scenario exactly intended to cause panic - you're going to lose your savings, your home, your job. Disgusting. And Hatch and Bennett say `He made a goood case'.

The truly disgusting part is that our "worthy rich" believe God has blessed them (after getting filthy rich from downsizing or relocating their companies overseas.

"Worth" rich?

What about: "It is far easier for a camel to pass through the eye of a needle - than for a rich man to attain The Kingdom of God?"

(comment: not entirely impossible - but extremely difficult to do)

I heard today that even of the homeowners who took out subprime mortgages, over 90 percent are still making payments. So whereas standards for getting a mortgage are now too low, apparently before they were too high. I think the market could make the adjustment if the politicians would just keep out of it.

Also, I agree that the house prices are way too high and should be lowered - right after I sell my house and just before I buy another one.

Let's not forget that in 2003 President Bush and his advisors went to Congress pressing for changes in oversight of Fannie Mae and Freddie Mac because they felt that they were headed for a financial crisis. His plan had the blessing of many leaders in the finance industry. Democrats, Barney Frank for one, denied that there was a crisis and didn't want to risk limiting the available credit to low income families.

It's been a problem for a long time. The bailout simply softens the consequences of the actions of these lenders. When people/companies are kept from suffering the consequences of their choices, behavior WILL NOT change.

As long as you're going to bring up the "eye of the needle" concept of hope for the rich to make it to heaven, keep in mind that the eye of the needle, was a port of entry into and out of the city through which camels could pass only once the merchandise had been removed from their backs. In other words, I think the comparison Jesus was making was that the wealthy could only make it into heaven when they decided that it was more important to live their lives according to His principles than to be focused on accumulating and keeping their possesions.

In other words, we should allow them to lose their shirts on this one, because a) they got themselves into this mess and should be the ones to get themselves back out of it, and b) it's the only way to humble them and give them some perspective on how "the other half" lives so they are more understanding of us and appreciative of what they had/have.

I also believe that those who got into loans beyond their means should also be held accountable for their actions. No free passes here folks.

"...allow them to lose their shirts?"

I don't think you realize what we are dealing with here.

The unholy alliance between the corporate behemoths and our government will dictate to us exactly what they will and will not do. It's the way it is. We can do nothing about it.

Might as well just declare our own independence and move on with our lives the best we can.

The Eye of the needle story: Difficult for the greedy, mega-wealthy to attain the Kingdom of God, doesn't go into detail of the reality of the situation.
Most mega-wealthy (excluding heiresses like Mr. McCain and Paris Hilton) get filthy rich today by downsizing their companies or moving them to 3rd World countries to avoid paying decent wages, healthcare, retirement benefits, profit-sharing, etc. for their hard-working employees who have made them rich.
The more they downsize, the higher the overall profits for the shareholders and the bonuses heaped upon them.
This is obviously unacceptable to any thinking, compassionate person and to God as well who passed along this parable.

Isn't it interesting that in August, when the little tax payer like you and I are struggling to pay for a tank of gas, congress did nothing but turned off the lights, and went home for summer vacation - ignoring our pleas to expand oil and other options in the US.

However, when large companies who made or purchased "sub-prime" and other shaky mortgages and business dealings start struggling, congress is tripping over itself to lend a handout - using billions our tax dollars. What ever happened to the concept of holding entities accountable for flaky conduct. Let the chips fall - however painful the outcome for all of us... and let these greedy corporations suffer the consequenses or no lesson will be learned. Otherwise the only lesson that will be learned is "If we mess up the government will bail us out."

And here I thought we won the cold war and rejected socialism. Now our elected officials in congress are embracing socialism.

Looks like it's time to vote a bunch of elected officials out of congress.

Let the mortgage holders make a bargain with those who would otherwise have to foreclose. Change the terms just enough so that they don't have to foreclose. Wait a little longer for the money plus interest. You will get more interest; they will get to keep their homes. The price of homes will drop; people will be happier; families will stay together. Couples will argue less over finances (chief cause of divorce). You will feel good. Try it.

A free economy does not force anyone to be a jerk. That's just economic Darwinism.