Taxpayers Bail Out Crooks.

Editor,

Instead of giving a $700-billion bailout of taxpayer money and trillions of taxpayer dollars in loan guarantees to miscreant banks, the Bush and Obama administrations should have:

** taken over mortgage payments for troubled homeowners,
** nationalized the banks,
** fired and prosecuted the bankers who crashed the economy, and
** renegotiated the principal and interest on underwater mortgages.

This would have allowed the toxic securities (CDO's and CDS's) that were crippling the credit system to be unwound in an orderly manner -- with gamblers in those instruments, not American taxpayers, eating the cost.

I have to laugh at the Republicans' "no taxes" pledge.

Yeah, right.

No taxes on rich people, banks, or giant corporations, but take every penny you can from working people and hand it to those crooks.

Re: "Regulator Rebuffs Obama on Plan to Ease Housing Debt" (8/1/2012)