Those guilty of committing these frauds need to be totally wiped out and their accumulated wealth given to the victims.

If there was any justice, the people who issued the AAA rating and tricked my retirement plan into buying that worthless paper would be prosecuted for fraud and forced to reimburse my 401(k) for the money they cost me. But that ain’t happening because they already moved the money elsewhere.

So here’s the deal: Should my retirement suffer because the banks and bond rating agencies participated in fraud and tricked my 401(k) plan’s bond fund into buying their worthless paper?

– Badtux the Defrauded Penguin

I stopped by the House Messaging Service to send him a thank you email, but it’s overloaded and sends back a message to that effect.

The stock market is up this morning; the sky hasn’t fallen; so much for the doom sayers.

Of course, I don’t know that Ni!! is such bad thing…. I think the assholes who caused this mess ought to pay, not you and me.

The Dems should go for something they can pass on their own. Obviously the “charge to the rescue” of “George Armstrong” McCain didn’t work.

The Swedish and British plans that involve some nationalization seem to work. The bonds and derivatives have no value because they have no value. If they had some “hidden value” people would buy them. They aren’t being bought because they are worthless, not under-valued.

You capitalize by buying preferred stock, not by buying worthless paper.

People don’t believe the “leaders” who are selling this mess. No one involved in the current US government has an approval rating about 26%, so voting for a bill that no one understands completely, and doing it quickly, is a recipe for failure.

You have to get Main Street on board first. Directing everything at Wall Street and Washington insiders just won’t work.