The government takes over the two large mortgage lenders to save face.  I don't understand this, these lending institutions (not just these two) knew they were giving loans to people that should not be able to obtain them, could not afford the loan they were taking on, and were going to rely on the government to bail them out when it collapsed(and they knew it was going to happen).  I don't get help from the government when i need it because of bad decisons.  Why then when big buisness does the same thing, and were aware of what they were doing, does my tax money become available to "help" bail them out?  Don't we currently have a large enough debt as a nation?  Buisness is supposed to sustain itself.  These people turned record profits and contributed to the inflation we are all now feeling.  I feel absolutly no obligation to help pay for this fleeceing!!  Nowhere in the consitution does it say we have the right to be strong armed into paying taxes that are accomplishing nothing.  I'm the one working for my money, the government isn't doing anything for me.  Don't get ne wrong I'm all for helping out the neighbors but this is absurd.  It's time to stand up and fight to legalize the consitution!  How bad does it have to get until you do something?  Just remember had we had sound economic policy, we would have averted this whole mess.  Don't let his empire of lies tell you different, you are not sheep.  Call every elected official and tell them it's time to get back on track.  Fannie and Freddie are only the begining!

Your statement that "the government isn't doing anything for me" is very shortsighted.  You live in a country where you can vote, speak freely, and pursue your dreams -- government is directly and/or indirectly responsible for those things.  Yes, it's true that Fannie and Freddie were aware of what they were doing was a "bad thing", but they too were probably shortsighted in thinking that it wouldn't get out of hand.  The government has to step in, in some cases, simply because of the economic impact those companies crumbling would have not just on the people directly involved, but on the entire world economy.

And pay close attention: have you seen all those "sell your old gold for cash" commercials?  The timing is impeccably inline with the current economy: when the US greenback goes belly up (as it seems on a course to do), only those who have custody of precious metals will be able to buy anything at all, regardless of how many worthless dollars they possess.

"You live in a country where you can vote, speak freely, and pursue your dreams -- government is directly and/or indirectly responsible for those things."

I was never a history person and probably never will be but didn't the people have to stand up to government to obtain these rights? I  don't think the government gave us these rights, the people fought for them!

Women and Blacks had to fight for these rights, that I do know.

Now government is trying to take away more more of our freedoms we once enjoyed.

My tax dollars shouldn't go bail out this company.  If I accumulate DEBT, it is MY responsibility for my POOR choices, no one elses. The government isn't helping my debt but will bail out this company with OUR taxes.  It doesnt make any sense. 

Every baby born in the U.S as of right now is 30,000 dollars in debt.  WAKE UP

I don't see how placing cameras is an invasion of privacy when they are public knowledge and only capturing images in a public place.  There is no invasion of privacy in this.

You miss the point, Gina -- and I am wide awake.  A person's miniscule personal debt does not bring down the house like it does when a massive major financial institution goes under.

A persons miniscule personal debt is the major finacial institutions debt.  These people only take on debt they know they can turn a profit on...This is the definition of buisness!!  We rely on them to help us out, so we can recieve something and yes so they can.  They attacked a large segment of society in order to take their money knowing they would never recieve the product as promised.  This is a crime they sould be being prosecuted not bailed out and given large severence packages...all at our expense.

"Government is no more than a choice among evils, is acknowleged by the most intelligent of mankind, and has been a standing maxim for ages.  If it be demonstrated that the adoption of the new plan is a little or a trifling evil, then, Sir, I acknowledge that adoption ought to follow: But, Sir, if this be a truth that its adoption may entail misery on the free people of this country, I then insist, that rejection ought to follow."

Patrick Henery, June 7, 1788

A person's miniscule personal debt is an extremely tiny fraction of the major finacial institution's debt.  My comment was in response to Gina's contention that it makes no sense why the government isn't helping her with HER debt.  I was referring to an individual and not the entire populus. 

However, it was not ONLY financial institutions that created this crisis -- the very people who borrowed more than they could afford to repay as also directly at fault.  People borrowed as much as humanly possible (payable) even knowing what an adjustable rate could do if either x, y or z happened to change -- they gambled and lost -- same as the financial institutions did.  I concede that no one (referring to both individuals and institutions) thought this crunch was going to happen, but it did.

However, the government isn't ONLY helping out financial institutions...

Once a large number of people started to go under due to financial mistakes they made in this situation, the government did indeed make attempts to help the "little guy" out of the hole by offering to refinance loans at a fixed rate -- it doesn't get any more helpful than that. ;) -- See http://governmentrefinanceassistance.com/ for info.

As the saying goes pennies add up to dollars.  If you fail or refuse to pay your taxes what happens?  The IRS comes after you, why?  Its only a tiny fraction of the economy.   Because its required to perpetuate the cycle!You are right about people over borrowing, however these institutions are supposed to make smart investments for their own good.  Many of these people were only doing what they were told, I know this is not an excuse, but when you have someone that you are paying for a service saying two thumbs up good as gold...its hard to turn that down and not move on up.  I don't belive these people deserve to keep their homes and there must be accountablity on the part of the lenders.  Now every time they screw the pooch they will be looking for a hand out.  It will start happening with more frequency, and this will only extend our hyperinflation.  It disgusts me that this happened but these bailouts(for home owners too) are not going to resolve anything, just like the stimulus did not one bit of good for the economy, at least sustained good like the intention was.