here is to you wall street

I am growing very tired of the excuse -used by reporters and pundits-that the individuals were buying prices they couldn't afford. There have always been foreclosures. There always will be and they fact that before they even got close the national average the system was failing. I am sick of all the "smart" people blaming the individual homeowner because their giant ponzi scheme of milking all they could out of mortgages ---and still demanding full payment after they are bailed out by government or new owners of mbs that were purchased on 20 cents on the dollar. Where is the free market? This is no free market when the governments bails out every single bank and credit institution that cries loud enough. The people suffering most are the ones who didn't nothing wrong. Did a few foreclosures cause prices to drop 40%? No they didn't. It is the fact that the banks are so crooked that they don't even trust each other. They are so criminal that they see no problem milking the public for trillions while they lie daily about there willingness to aid the homeowner. This is a total crock of crocs my friend. The system has been completely pillaged by the banks and now by the government and funny that they are working together to save each other while the taxpayer and homeowner are left to suffer a housing correction with no bailout. It is insane and for anyone to report any differently should be given a wake up call because when prudent investing, such as real estate, takes a price drop all the way to levels of 6 years ago, it is not because of foreclosures. Property purchased in 2004 with 30% down is now about to plunge under water. The reality is that all the wall streeters who milked the system, the majority of whom have benefited from government assistance, are now hell bent to clear their books and crush real estate with the "housing correction." The prudent investment for the long term was real estate. The cycles fluctuated far less than the stock market and it was a fair way for the little guy to plan for retirement or add to cash flow.

Wall street couldn't stand to let the little guy keep the one last thing he had left. The little guy could use leverage with the help of his banker to gain long term wealth consistently without the major ups and downs in most markets. (a few exceptions I know) But it was the government lack of foresight and the greed of both federal and local officials coupled with the predictable pillaging --that wall street will do to any good thing out there--- that caused this meltdown. Wall street and bankers will always milk every good thing until it goes bust if left unchecked. In the aftermath they turn to pillage the government for a bailout as the cry of their own importance to the world economy. (garbage by the way--total syoa syndrome going on---clearly the old boys network throwing life vests to the boats that needed it the least---from this point forward the battle cry of banks and credit institutions will be contract law and free markets----complete rubbish---but it will suit the bankers and wall streeters when they no longer need socialism to save them from suffering like the individuals that are losing entire net worth and lifetime savings because of these criminals. ) My question to you is one of much greater importance to citizens on main street and one that all the brains and mouths on wall street can not answer honestly. They have lied continuously since this melt down started and continue to do so as they screwed the little guy for every penny they could until the government rescued them. Now they have a mission to clear the books. What else can they do? The government took any incentive away for them to own up to the fact that they falsified appraisals and made horrible loans. What about contract law and free market? They are underwater because of terrible business and mistakes. Where is there part of the responsibility coming in..???? no where......they get off fancy free. Yes they take losses but so what? It is on our dime.

finally my question is this: How come mortgagee's are expected to be the only ones to suffer a true loss on their own? Individuals mark to market everyday without a government bailout. Maybe it is time for some of the reporters to actually see the side of those really getting fleeced.