Student, car debt quietly added to bailout plan

Is it too much to ask our elected representatives to fix the ridiculous cost of fuel first, before bailing out the morons who blew away their investors savings? If our 14% approval rated Democrat congress would have allowed drilling much of this crunch could have been avoided.

Bailing out foreign banks? You've got to be kidding. Since when is there a constitutional authorization for the government to use tax revenue taken from citizens to bail out anyone? Judges rewriting mortgages? We are witnessing the fall of our great democracy, even as we speak.

Here it comes Socialism....Please President Bush don't sign this give away bill with all those democratic tack-ons..Especially the ones about foreign banks,car loans that students acquired and can't pay their banks..and many others..Who does Barney Frank and Chris Dodd think they are fooling..the American people,even the ones in Mass and CT are smart enough to see who took a lot of paybacks..Don't do it President Bush..I'm a Korean War veteran and grew up during the depression and saw what the government did for my mom and dad..The students today who bought things they couldn't afford should not be let off so easily by the banks. God Bless America "Heavenly Father our leaders need wisdom"

Our only hope is that there are more Senators and congressmen like Sen. DeMint, who will be able to stop this awful atrocity from happening.

Shame, shame, shame...shame on this Republican administration and equal shame on this Democrat-controlled congress. The crappy condition of this country CANNOT be blamed on either one, individually!

Student loan and car debt? The title of this article should be America Declares Bankruptcy. Oh, by the way, for all you idiots that worked two jobs to pay your bills and put your children through college, don't worry, be happy, everything is going to be alright. Just remember, the government is counting on your type to bail out these poor people that have lived beyond their means. They need your support to continue that lifestyle.

Wow, cool. I am so in debt with my student loans. I'm in.

Meowoman: Headsup! they are not bailing you out! Just the people you owe money to. They will still come after you for the$'s you owe.

This should please Mrs. Obama. Wasn't she complaining about her onerous student loan debt? As for me, I couldn't be more outraged. Where is the text in this program that outlines how the people running these failures give up their golden parachutes, their dwellings, their vehicles and their first born before moving into Leavenworth? If I am going to shoulder their "mistakes" then it's only "fair" (to use a liberal term) that they give up something, too. In exchange for their "sacrifice" I will be happy to also shoulder a portion of their room and board in a cozy federal facility.

If you can't afford to pay your bills, get a second job. If you still can't afford to pay you bills, call a debt consolidation company. If you still can't afford to pay your bills, file for bankruptcy. Life is tough..don't make stupid choices.. like buying a house you can't afford, or taking a loan with an Adjustable Mortgage Rate. If people would just use a little common sense and demonstrate a little personal responsibility we'd all be better off..

This is unbelieveable. Even the Romans with their Empire crumbling around them would be appalled. Talk about buying the people with their own money. The government has no money, it is borrowing and worse-printing fiat monies as fast as Treasury and the Fed will allow. This is no different than a program to cover gambling losses. The free market entails risk, now we-the People-are going to go bankrupt funding private companies bad debt portfolios. Government mortgage bailouts alone are an obomination (opps-sorry barry), Student Loans, automotive, and consumer notes? What in God's name is next? casino losses, poker, stock markets, private pensions (opps again-too late),...the Republic has not long to live at this rate. This was predicted by Conservatives (try Alan Greenspan)all across the board and has quickly come to pass. The Liberals brought this into existance.

“[T]he Treasury dramatically expanded its bailout plan to include buying student loans, car loans, credit card debt and any other "troubled" assets held by banks. Treasury Secretary Henry M. Paulson Jr. stressed that the additions were needed to ensure that ...credit cards - which have become indispensable to the spending habits ... of many Americans - do not become victims of the widening credit crunch.” That's right. Credit cards have become indispensable as a means to spend more money than an individual has, thus allowing him/her to run up significant debt without having to explain to any loan officer how the debt will be repaid. Seems to me that this is a big reason why we are in this disastrous position now. There is a lesson to be learned in all of this—buy whatever you want on credit, and if you get in debt over your head, the government will force taxpayers to bail you out. Party on, Dude.

Indeed, debt - governmental, corporate, and personal - is the catalyst for the problems we are having. Yet, the cause lies deeper. Behind the debt is a character flaw this society exhibits. The flaw is primarily individual; yet, it is most profoundly seen at the institutional level because institurtions consist of individuals. That character flaw is exorbitant GREED. Greed is NOT Good. Greed is a moral/ethical epidemic in our culture. Greed is marketed to us daily. Greed destroys lives. It is a cancer that is showing itself to be capabable of downing entire nations.

Lovely, does this mean if I default on my car loan I will owe the federal government? You have got to be kidding me are they insane??? Jiff www.anonymize.us.tc

WARNING TO DEMOCRATS. There will be hell to pay for you in November if you insist on adding these WELFARE items to the bailout bill. Think about it. You already have the votes of the people affected by this giveaway BUT you will negate any chance of getting votes from most independent undecideds. Go for it. Please. Nobama (apologies to Bubba) is already toast and your coveted gains in the House and Senate will go up in smoke. HA!