Draeco, the bottom line, the housing market is what was plumping up the economy this past decade. Sure, these folks should have asked "another professional" what exactly is meant by a low-doc... BUT, they were speaking to professionals! Home purchases with low interest rates were a great investment. Yes, medical bills can add up overnight. Besides, paying higher premiums, co pays, etc... if a family ( I was one) has a catastrophy... an over night little accident can bankrupt a family in a snap! My husband had a serious accident, co payment for the hospital was over $40,000.00!!! Our deductable is low...15% as we are on a great "golden plan".

Dax mentioned in Florida, homes are protected from bankruptcy. This is true...only if the homeowner "homesteads" his property...same in the state of Nevada. In Nevada, a home can only be homesteaded (this may have changed) to about $95,000.00. Florida had a huge mortgage melt down, because developers were allowed to overbuild.



It was just found out AIG execs. took $400,000.00 of the bailout money and went on a nice little holiday...spending spree. Obama is asking that Congress demand they repay the money...and are fired.

"knee jerk political reaction and ignorance"-Who authored this bill, RNG? Phil Gramms, McCain's chief economic advisor. Who was among those who voted for it? John McCain. Check McCain's 26 year record in Congress and you'll find except for ONE occasion when he spoke of regulation, it was to DEREGULATE. Check out his involvement with the Keating 5 and the S&L SCandal of the 80's, an illegal scam using DEREGULATION that cost the American tax payer 200 billion dollars back then. Even after that up until 2005, his record is clearly for DEREGULATION. Now when he knows how angry Americans are about that position, he suddenly talks as if he's been the most hardline deregulator in Congress all his life. LIES. Even in 2005 if the Republicans wanted to pass a deregulation bill they could have. Congress was STILL controlled by Republicans and even in the event of a tie, Cheney could have come into the Senate and broken the tie in favor of the Republicans. Why didn't this happen? There was no filibuster I could find by the Democrats to stop it. You have no valid argument and name calling such as "leftie" further undermines any credibility you have.
Oh, but if I'm not mistaken Cheney did come in to pass the huge,unethical fat cat tax cut.

The way I hear it, is that it was an AIG subsidiary that was actually preforming quite well that took the holiday. They spent company money that was earned by the company. Those employees met their goals and got their reward.

Still though, AIG should be pulling in all its resources to help itself, not go out for a party.

Ahhhh, thank you! Sometimes a little comic relief can be welcome during heated discussion. Appreciate you!

There is a thing called the 'appearance of fairness,' Aint. Whether or not it was a subsidiary of AIG that had been 'doing well,' it should not have 'rewarded' its 'execs'
with a $4M holiday so soon after it got bail-out money.

It shouldn't be 'rewarding' anyone. So your last sentence is correct.