personally I think the banks like you said took a gamble, but didnt weigh out the pros/cons before handing out loans, mortgages etc, they expected many to default and were counting on it but not to the extent which it did.

Like in all gambles, the odds are either win or lose. But I think the consumers are the ones who really lose.


(new article - House defeats bailout)

what now????

http://news.yahoo.com/s/ap/20080929/ap_on_bi_ge/financial_meltdown

WASHINGTON - The House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive into recession without it.

Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor.

it just goes to show
that everything done in the dark, comes to the light

I know lots of folks that were given mortgages that really couldn't afford them and they have loss EVERYTHING!

They preyed on the poor and old and want the American people to bail them out

When will the madness END

the fact that the stock market has dropped so much tells me how badly we need this bill

the money people who drive this economy (and the majority are honest) were counting on this bill