Welcome to the Housing Nationalization

Dozens of people have been warning of this impending economic disaster for decades,a fellow named Stormer wrote Death of a Nation and Some call it Treason back in the sixties.The problem is the media mock and silence all those who were trying to warn the sheep.Did you not notice how the media put down Ron Paul,turns out he,s been predicting this mess for a long time.The solution, my fellow sheep, is to educate yourselves,disregard the media,and get involved.Now this may require that we watch a little less basketball or football on tv, but I can assure you,once the politicians and media realize that the sheep have awoken,they will be more cautious spending our money.

This is all Congress's fault. Why aren't we lining our politicians up against a brick wall?

Housing markets are local markets, not a national market. The bubble is actually several local bubbles, some bigger than others. The biggest bubbles are inflated by aggressive housing development/ speculation....they should be dealt with locally (eg - auctions,regional solutions). The US taxpayer who lives outside these bubbles ( where housing prices never got out of hand in the first place) should be exempt from Fannie and Freedie bailout subsidation - how about letting Adam Smith`s "invisible hand" do its work? Have we all lost faith in free market capitalism?

Why does everyone speak of all democrats and Republicans lied? What about Ron Paul, he's been warning Americans on theses issues for years.

While I am a life long Republican, I am appalled by how both parties have sat by while Fredie, Fannie and the FED have pumped huge sums of money into the market place enabbling people that had no business buying homes (most of them on speculation) resulting in a hugh drive up of real estate prices to an irrational high. This was clearly predictable as early as 5 years ago. I am a real estate and banking attorney, and have also been appalled at the totally irresponsible approach to lending that most lenders had in the last five years. Now, we the taxpayers, are left holding the bag. We should be outraged and throw both parties out of office, but as usual, we "sheep" will merely sit by and swallow hard while the politicians and experts merely wring their hands.

on target brian, well done. Treasury Secretary Hank Paulson ..intesting he can lie just like a russian

Brian, Whose fault do you think it is. It is a complacent electorite that sits back and watches its government print money like it is a donut shop. Social Security has been raided every year for 20 years building up a 2 trillion dollar bill. President Bush tried to stop it by telling us that if YOU CHOOSE to you can put your money into the stock market and if you don't the SSA will be there for you. The only catch is that it will cost that 2 trillion I mentioned earlier or we could in 10 years pay 10 trillion dollars. This is the same thing. The bleeding of the housing market has to stop. Is this it no, but what is the alternative? The market has taken this as far as our economy can go. If we had demanded better stewardship of our banks and government none of this would be neseccary. A gimmy society is now front and center and hopefully the me only society of 300 million will figure that they are not the only ones who matter. Next time you are on TV tell us thank you for the mess we are in I hope you (the american people)learn something from this. I won't hold my breath but it is worth a shot.

Today's rally is already starting to fizzle out. We'll be on the hook for at least a trillion dollars of losses before it's all over. Maybe even more. We are no where near a bottom in housing. Who can buy the excess inventory when credit from over leveraged banks is as tight as a snare drum, rates are rising (and will continue to rise much higher), unemployment is rising, and inflation is eating away the purchasing power of the dollar.