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To: Chip McVickar who wrote (11871)	2/12/2008 12:17:28 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 12410

I may be misinformed but I thought the original bailout plans basically helped the people who had overextended & people who were meeting their payments had to go scratch. I agree that the lenders in their greed got this issue going but I've no sympathy for the greedy who overextended in an effort to buy more home than they needed, or the people who were flipping these places such as the Florida condo speculators. If you had caught me in a less generous moment I'd say line them all up and shoot them but how politically correct would that be. Wasn't it here that someone posted a link to the BoA credit card rate increase? Did they really think people would accept a boost in rates to s high as 28% on a credit card with the Fed dropping the cost of borrowing? That's the only bad thing that came out of Volker's term. Going into the Fed hikes in the late 1970's credit cards never had interest rates as high as they are today. Interest rates came down & credit cards stayed up. You'd think the banks were still working off the hammering they took 30 years ago when Volker stuffed up the toilet.