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January 13, 2009



We are going to need all the help we can get from the gov't, I saw a good article in Newsday's Saturday 01/17 paper,"Banks gettng help have tax haven units", should have been front page, but I think the article confirms the mortgage and financial woes of Long Island, if not, also the country. Over the years, banks have been setting up foreign subsidiaries to avoid paying taxes in the U.S., and at the present time are taking "bailout" money. These banks have got to stop, I hope companies like News12 and Newsday could possibly follow up on such an article to aid "us" tax paying citizens.


While I feel for the people who were steered into mortgages they couldn't necessarily afford, the fact of the matter is that they invested in an unstable real estate market. Saving them is only going to continue to inflate the market and raise prices for the rest of us. (Not to mention that taxpayer money is being used to make it happen.)

Did we bail out the people who got in too late on the Beanie Baby craze? Do we call for government funds to prop up the baseball card market? Then, frankly, the only help the "underwater mortgage" people should get is the ability to walk away from the loan, and MAYBE a refund of the mortgage interest.

The sooner the we get government hands off the economy, the quicker we can find out what everything's worth and move forward. Measures like this sound nice, but they're just prolonging what's already turning into a depression.


"...Just got back from Willow Street in Central Islip..."

How severe were your gunshot wounds?

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