Bank Failures: I've had it with everyone blaming Wall Street for the economic crisis the country is in. ITS EVERYONES FAULT! The CDO and Mortgage Backed securities that have now bankrupted almost every major bank in the country were all based on an agreement between Wall Street and Main Street where Wall Street allowed Main Street to live LIKE WHAT THEY SAW ON MTV CRIBS for a fee and some interest. Wall Street agreed to loan Main Street money, even though they shouldn't have, so Main Street could live the ballin' life. You could make 40K a year, yet you have a 400K house, two flat screen TVs and a 'Scalade in the driveway. The new "American Dream." When my parents were my age you had to save for years, put on a suit and tie (or a dress) and go down to see the local banker with your good credit and downpayment before you could even CONSIDER buying a house. When did everyone become entitled to have everything as soon as they want it? Why is it that no one blames the people who cant pay back the loans that underly the securities that have bankrupted every major bank? Main Street borrowed money for things they NEVER could afford, but "its not their fault?" Its the mortgage broker, the banker, the CEO? Wall Street crooks held a gun to everyone's head and said "buy this house!", "buy this car", "buy this TV for 3K on your credit card @ 18.9% interest?" NO! Main Street made these decisions, and Main Street didnt live up to paying back their debts. Should Wall Street have lent this money without doing their homework? NO! But, at the end of the day, when all the loan papers were signed, Wall Street lived up to their end of the deal and funded the loans. Main Street took the loans eagerly with no ability to pay them back...but its not their fault! "If Wall Street is dumb enough to loan my broke, irresponsible ass money then I am going to take it." I know, I know no one understood adjustible, teaser rate, negative amortization loans! They just thought the banks were kind and generous enough to let them pay 1000/month for a 400,000 house WITHOUT ever actually having to prove they even had ANY income! What a sweet deal! I can buy a house without a job now! When did everyone's basic math get so bad that they cant understand that you cant pay for a 400,000 house @ 1000/month for 30 years??? Even 40 years??? Oh! Wait! People forgot they actually are supposed to PAY THESE LOANS BACK !! WHAT A NOVEL IDEA!!! If Wall Street used the same metrics to issue loans that they used for the 50 years before 2002, we wouldnt be in this mess...that is true. However, if everyone on Main Street held up their end of the bargain and paid back their loans, or had the intelligence and self control to borrow responsibly and within their means, we ALSO wouldn't be in this mess. The blame is TWO SIDED! WHY IS IT THAT WE IN THIS COUNTRY NEVER BLAME THE DRUG USER, JUST THE DRUG DEALER? Class Warfare: Why is it that every time I turn on the news I hear someone talking about the "average working class American" and how they are paying to bail out the rich? Where do the "average working class" who get paychecks think the money actually comes from? If you work construction and you go to the payroll clerk every Friday to collect your check, where does that money come from? Santa Claus, the Tooth Fairy? It comes from investors, banks or both. The same rich who are supposedly sticking it to the middle class. When someone invests in a company they are betting that their money will allow the company to go out and create a good or service that the company can then sell for more than the cost of creating that good or service. For putting up the investment that allows for the creation of that good or service the investor expects a return. Otherwise, what is the incentive for the investor to take his money out of a can in his yard and risk giving it to any company? Without returns no one is willing to take a risk, without taking a risk, no one is creating a job for ANYONE. IF Wall Street were not around, the "average working class American" would not have a job creating these goods and services because there wouldnt be any money to PAY THEM for creating these goods and services. Actually, this is not entirely true. The GOVERNMENT can play the roll of Wall Street and the companies by funding and producing the goods and services themselves. This is called Communism, and it has failed numerous times (which we seem to be forgetting right now.) Class Warefare (Cliff's Notes): If you work a working class job, say hammering nails to frame a house, this is honorable work, no one disagrees. You work outside, in the sun, getting dirty, getting splinters, sore muscles, CREATING SOMETHING REAL AS THEY LIKE TO SAY. The problem is, without Wall Street, without investors, no one can pay you to frame the house. If no one takes the risk (hoping for a positive return) to build the house, then their will be no demand for framers. Everyone seems to forget that they didnt build their own house, and they didnt buy their house "at cost." "GOOD OLE FASHIONED WORKING CLASS" JOBS DONT EXIST BECAUSE WE HAVE TO HAVE THESE GOODS AND SERVICES, THEY EXIST BECAUSE SOMEONE CAN MAKE A PROFIT CREATING THEM! WE NEED TO UNDERSTAND THAT THE DESIRE FOR PROFITS (GREED AS EVERYONE CALLS IT NOW) ACTUALLY CREATES JOBS. WE DONT BUILD CARS, DRILL OIL WELLS, OR MILL STEEL BEACAUSE ITS THE RIGHT THING TO DO OR FOR THE GREATER GOOD, WE DO IT FOR MONEY AND WALL STREET SIGNS THE CHECKS!