The “recession” response is to give taxpayers some chump change with which to buy a new TV or whatever…as if Americans were going to use this grub money to pay of debts. That is rather an hilarious assumption. The chump change is “their own tax dollars” anyway, that’s what makes it even more chumpy.

The Bush Admin will now go into high gear to bail out, with taxpayer money, all the crook banks who dealt in those bogus home lending practices to begin with. The typical conservative Barnum and Bailey sucker born every minute concept.

Conservatives will not only NOT save you from the impending bus, they will gleefully throw you UNDER the bus, and sip scotch and watch you die. Get used to it. There are two distinct countries in this country. Human and Conservative.

Here in California, property values never stay down long. They’ll drop with the foreclosures and then start climbing again. Who will profit? All those banks who foreclosed and own the properties they’re selling at a profit for outrageous interest rates.

Is it coincidence that this comes to a head at the apex of a primary season and election year? Of course it isn’t. I believe you’re seeing the payoff for backroom favors (like suspending any regulation of predatory interest rates). Let’s not forget what happened during the Reagan years with the S&L crisis.

Pure market manipulation on the part of the money men.

States are most certainly free to regulate banks chartered under their own (i.e., non-federal) laws. This encompasses almost all U.S. banks — which operate through holding companies comprising various state-chartered (and state-regulated) subsidiaries.

Stated differently, this was classic disengenuous Spitzer subterfuge.