It looks like the bailout is coming from the Fed. Glad to see the speculators get bailed out. First the Fed comes out with the stimulus check and now this. Surveys showed that 92% of the people who received checks saved the money or paid off debt. So much for stimulating the economy by sending out $150B in checks that ended up hitting the bank accounts, and in essence stimulated Wall Street’s pocket books. The money saved from the stimulus checks will probably be used by the banks to lend out as mortgage loans and the whole crisis just exacerbates and the circle continues. You sense sarcasm? Maybe just a little…

I wonder how many people really benefited from all these government plans in a life-changing matter. If you bought a home pre-2006, you shouldn’t realize much loss in equity from your original purchase price. And buying in 2006 and 2007 despite all the heeded warnings from experts about real estate bubbles would make you a speculator. And we all know who’s partially responsible for our credit crisis, that’s right, the speculators buying on credit and taking out equity lines when the home equity were articifically inflated!