Hooray for Mr. Gilbert. I could not have said it better. Why should Mr. Gilbert and I help bailout the greedy. These people are as much crooks as Enron, Milken, and now Kerviel in France. The homebuyers and banks that want it all and want it now have caused a panic that is reflected in world markets. Failure to consider the ability to make monthly payments and collect on mortgages when interest rates increase has cost me and many others in terms of personal wealth. Let the parties responsible work it out on their own. If they can't, let them go under. I nearly vomited when Hillary Clinton said on "Meet The Press" that we are all responsible for the mortgage mess.

Additionally, I wish the government and media would stop calling the proposed $150 billion stimulus package a rebate. It is a socialist redistribution of my and other people's wealth as long as a dime goes to anyone that did not pay taxes or paid less than they could receive via the proposed distribution rules. It's only a rebate if you receive less than what you paid in.

Why should wall st have to suffer because people take out loans they cannot afford? This stimulus? Most of the American "sheeple" would spend it on Chinese goods, strengthen their dollar, and weaken ours. Hats off to you if it goes into your savings for 20 years. Buy an SUV? Fine.

Speaking about back to basics let politicians stop paying lip service to the constitution and bill of rights.They get away with this because the american people don't read it ,understand it or just plain don't know how to read. Many Americans do not want to think so politicians can get away with 30 second sound bytes and greased backed hairdos. It's attention span and attention deficit dysfunction wrapped up in one neat little package called an uninformed/underinformed voter.

If only it were that simple. The tax dollars are not being used to bail out homeowners, they are being used to bail out the economy. Even as this man complains he is entitled to the tax rebate too. And he benefits in more ways than one. If the economy goes into recession, it doesn't just hurt the people in debt it hurts us all. It hurts me because I might get laid off from my job.

He is the last person who should be complaining. The man delivers RVs for a living. RVs are a luxury good, and most of them are bought with credit. If there is a credit crisis, and the economy tanks this man might lose his job. But he wants to gripe over $600 tax rebates?

The perfect neo-conservative.
I got mine, screw you.

Lester Gilbert for President! No saves from Uncle Sam to keep his loan company in business; you get what you pay for and if you're dumb about it you lose. That's life!!!! But OH NO, not when it is big business taking losses, then BOTH parties can't wait to bail out THEIR personal benefactors! What a crock!!!!!

Typically I would feel that the burden should fall solely on the individual. However the subprime mortgage problem was the responsibility of the federal government, the lenders, and also the individuals. The federal government loosened their own restrictions in regards to lending practices, many lenders loosened their guidelines in regards to the debt to income ratio, and individuals did not do the necessary research or even take the time to save up before buying a house.

This country was founded on personal accountability and it is about time that the people got reminded of that and the federal government needs to go back to working within the confines of the Constitution according to the true interpretation of it and not according to the re-interpretation that has taken place in current day.

What's destroying this country economically is not that the hand of government is not taking care of us, but that we are enslaved to debt personally and nationally.

Time to write out a budget and live within our means.

The CNN moderator is not really doing their job with some of these comments.

Degrading…

AT 61 I HAVE ALREADY SERVED IN THE MILITARY,BUT AFTER READING MOST OF THESE COMMENTS I WOULD NEVER RISK MY LIFE FOR ANY OF YOU.

I agree completely! When I bought my home, I bought what I knew I could afford. I knew the terms of the loan, etc. We depend too much on some one else to bail us out each time we make a wrong decesion. If I've only got 10 dollars, I can't spend 20 and ask the public to pay the other 10. Get real and be responsible. I'm busy paying my own bills, I don't want to take on anyone else's. Buy only what you can afford.

GILBERT YOUR DA MAN!!!
I LOVE YOUR VALUES!!!

Sad to say, but Mr. Gilbert pretty much tells it the way it is. And I appreciate that too! Self-discipline and self-responsibility are in such short supply these days. Grossly enlarged sense of entitlement and finger-pointing, on the other hand, well, there's plenty of that!

This ole boy has a right to his opinion, but he misses a big point…that the mortgage mess was allowed by the usa government failing to regulate the loan business…as usual its the republicans who want small government, no regulation and just let the boys be boys attitude.

Well if you don't regulate the behavior and let people get loans that are nothing but con games and get rich quick schemes of business and the loan industry this is what you get..

Shall we repeat 1929 again to learn something?

He sounds like a Ron Paul supporter. Since the media has decided to exclude Ron Paul from any coverage he probably doesnt know who he is.

Hey, you now have upto $600 to make your financial situation better. Like Donald Trump said "I am going to buy a bar of soap". Reducing interest rates will stimulate more people to buy bigger houses than they can afford.

Since the media is underhandedly excluding candidates and manipulating your opinion go to the candidates websites and read about every candidate.

Ron Paul has my vote. Freedom!!!

Cash Back

If the government gave you six hundred dollars Cash Back what would you
do with the money? Salsa lessons?

Bubba said – “Well I lost my home so my credit is bad and I can not qualify
for a loan. But the government must think I know how to save the US economy.
Maby I could get my car back from that title company. Or the fastest way to get
the money back in circulation is to catch a bus to the nearest casino. I will think
like the government and try a wild and reckless gambling spree and hope for the best. I only wish I had a hundred and fifty billion to bet with.”

The Stock Broker said – “ If only people would put that money in the market.
The numbers are green now and they will stay green until the stock market
draws in the suckers. Then we short the market and suck off the profit.
Now that may sound bad, but when you do not know what your doing
you should invest for the long term. Maby in ten years your stock will
be worth what you paid for it.”

Hillbil’lary said – “ I will put that money toward my campaign. If I win I
will be the next one to piss off the money. I will give everyone free
(Feaking Rob Everyone’s Economy) heath care. I have free health
care you pay for it. I think you should pay for free health care for
everyone who does not want to work for a living. I think all of you
could do with a little less money. You pay for my health care I never
hear you complain about that?”

$600 per eh?

What a knucklehead idea! Ever stop to think how much of that money will wind up in Chinese hands?

I would vote for this guy! What is wrong with some personal responsibility? There are a few innocents out there that possibly lost a job or became ill but for the most part it is was speculation and wanting to turn a quick buck. A lot of people thought they could turn these houses in a hot market and got caught with their pants down.
I say help the people who made honest mistake but to hell with the people who just flat overspent.
This is one smart man.

75 and 81 year old couple still working. This is the generation that made America great. Not the whiny, do-for-me, greedy baby boomer generation, nor the MTV, video game obsessed faties that want it all now and not have to work their way up to it.

Admirable people in their inner strength and self reliance.

Lester Gilbert is absolutely right.

Why should a person who has been reasonable about his own finances be compelled to bail out others who have been careless with their finances?

It's all about accountability, and that is going to be a big issue in the general election.

D says, "Furthermore, the ensuing 'rebate checks' will not be free by any means."

D is right. The rebate checks are not free. I'm sure Lester and many of the rest of your will be sending them back to the government or shredding them. We don't need no government handouts.

Actually, the Chinese are loaning us the money for these rebates. If you do spend the money, at least buy American.

Mr. Gilbert is right on. Too bad politicians dont listen to folks like him and try to use our money to buy themselves their congressional seat. And too many people think al those handouts are free money. The tax rebate is not free money, well except for all those who will get a check and pay no taxes. Meanwhile those who pay the vast majority of the taxes will get nothing because they are "the evil RICH".

People are too busy trying to keep up with everyone and spend themseves to oblivion. Our spending doesnt help our economy , it helps China and the rest of the slave labor countries. The high pay of unions have raised our expenses of life and outsourced themselves out of a job.

This country has a disease of materialism and it is sending us down the road all great empires traveled, extinction. Our country has lost its work ethic and is now filled with people who want nothing but comfort, jobs filled by illegals and undereducated we pay to serve us. We feel entitled not grateful for the American lifestyle, we forget what it took to get here. Politicans who pander that laziness to keep themseves in office. Our God has become money and the good things in life. America will go the way of the DoDo just like the Romans, Babylonians, Egyptians, and Greeks. History always repeats itself.

As a african american I say THIS MAN IS RIGHT, AND A LOT OF MY PEOPLE AND MANY OTHERS IN THIS COUNTRY SEEM NOT TO KNOW WHAT PERSONAL RESONSIBILTY IS OH YEAH IM 28 YEARS OLD AND I KNOW WHAT IT MEANS THE WORST THING ANY YOUNG PERSON CAN DO IS GET CREDIT CARDS AND BUY TO MUCH HOUSE. TO MANY PEPOLE ARE IMPAIENT NOW EVERY THING IS QUICK RUSH RUSH RUSH NOW NOW NOW WITHOUT PROPER PLANNING OF FORSITE OF WHAT MAYBE THE FINAL OUTCOME I SAY NO BAILOUT FOR ANYBODY P.S. THEY SHOULD END WELFARE TO… AND IM A DEMOCRAT AND IM NOT RICH EITHER

carole wrote "Anyone who doesn't agree with this man has an entitlement mentality."

Banks employ marketing experts with advanced degrees put together the advertising and marketing campaigns for their subprime loan program, to entice the naive consumer. Economists and mangement experts figured out how to loan subprime money to the sucker then sell the loan to someone else, so they would not be stuck with the hot paper. Customer service personnel were trained to sell and close these deals. The people who have been burned are not the people who designed this scam - which is what it was. They are rich and secure. The people who are being burned are the purchasers of the loan, the purchasers of the house, and the tax payers - who always end up paying for corporate boondoggles like this one.

Really carole…want a long list of big businesses that the govt used your taxes to "bail out"?

Is this John McCain's dad? Who is this geezer…irrelevant. Why don't we go to a mental clinic to find a pulse?

Anyone who doesn't agree with this man has an entitlement mentality.

Why should tax payers bail out people who over spend????

All of you don't seem to mind that your taxes everyday are being used for corporate welfare. Aren't the big corporations "people you never met" as well?

I don't like welfare and food stamps either, but this mortgage crisis is to fight a corrupt system of corrupt lending. Many people were mislead and now the corporations are the ones crying the loudest because they did not bank correctly on the number of foreclosures.

You sheep are comparing the whole thing to welfare. It's not the same thing.

And besides, you pay FAR more corporate welfare than you do to people living in poverty…look it up.

It's about time we hear more about people standing up for and demanding personal responsibility and accountability. If more people were accountable for their own actions we could come together as a country to deal with real issues that are painful today while also being proactive about avoiding future problems.

Perfect comment about his customers paying cash for cars that make a job for him. One in how many are in debt for the cars he delivers? I took a loan on my home to buy an apt. bldg. Interest began at 4.5%. Who knew the FED would raise it to nearly 8% in 2 years? I was lucky to have stock to sell to pay it off early–but others got stuck with our "Investor-Controlled" economy. As a 2-bit investor, I was part of the system–but only because "That's the way things are."
The same thing happened when I lost half the value of stock overnight.
What's left of my stocks are worth less than half what they were last summer The Bush war to let investors dip their beaks in Iraq oil profits has us in recession–although that is denied Veep Cheney and his Halliburton are beneficiaries of our taxes spent on war merchandise.
This man is a perfect example of living in a past that forced savings or ruin on people and can't understand the system itself causes problems.

He needs to meet with real people. What route is he driving through?
I do have a question. Every war the US has been involved in we always pay to rebuild those we supported. Shouldn't Iraq reimbuse us with oil? Why should Americans suffer finacially? I don't understand. This policy that we must rebuild other countries after wars we help them fight has been going on since world war 1. Is not the sacrifice of our young men and woman be more than enough?

We are all drawing benefits from our social structure. We needn't cater to everyone's every whim, but in ignoring the plight of others we risk losing everything.

Really? We're all drawing benefits? My check my be going to someone else's mailbox. I personally have nothing wrong with welfare, as long as it goes to those who DESERVE it. Not to the baby machines, illegals, and those who don't know how to do anything but apply for credit cards. I am not working everyday and paying taxes so others can get out of bankruptcy. If the great John Kennedy were alive today, he sure as hell would not be considered a democrat.

Why is it that people yell about personal responsiblity, "I didn't get a loan why should I pay for it", and yet not say a word when the government gives millions of dollars to companies who make the same bad decisions over and over again?? I agree if I can't afford something I don't buy it, but I don't like the fact that major companies don't do the same, or they have "offices" outside the US to avoid paying taxes, not because it's that much of a burden, but because it would cut into the CEO's bonuses. THAT's not right!

Dave C in NJ,

You have a point but "it takes two to tango". Nobody asked the consumers to sign a contract for a house they clearly could not afford! Greed and ignorance is a powerful and serious combination! That is why we have the mess we have now. Mr. Gilbert is absolutely point on! At the same time not everyone having a difficult time caused it themselves! And for all who think you are getting FREE money. Wake up! You are all are paying for the free money going to people who don't pay taxes at all!. It's not free money, it's MY money!

Great post Karen. This has become the entitlement generation. Too many people today will spend money on entertainment first before using their money for basic necessities. Everyone wants to keep up with the Joneses without having the means to do it.
People gambled by taking out subprime or interest only loans in order to have more house than they actually need and the gamble didn't pay off.
I totally agree Karen, because I have lived responsibly I do not feel that I should pay for their gamble via the government.

There's a flip side to lowering the interest rate to help out the subprime mortgage fiasco. This means that Americans that are putting money away in savings (because they actually bought a house they could afford and drive an old car) get less interest on their dollar. We punish Americans that try to save to help out the ones that are in over their heads. Live within your means.

Lori, If you really think that Obama is any different from Clinton, then you have done very little research and are ignorant about politicians.

By the way, folks, mortgages scenarios are case-by-case.

The right wingers keep repeating this idea that there are legions of people driving around in Hummers with iPods and not paying their mortgages.

It's easy to mouth off on a board, but I doubt most of you are that callous in real life.

Edwards 08!

For all of you saying that this Lester guy makes sense or that he should run for President — there's already a candidate out there for you!

Ron Paul echoes this guy's sentiments — personal responsibility, living within our means as a path to a stable economy and NEVER depending on the government to bail us out. Paul studied the economy for years before entering politics — he's not power hungry like the other wackos, he actually knows how to fix things!

For whatever the reason, the media's been fairly effectively ignoring Dr. Paul. But research on Paul is within easy reach with Google; please take a look and help bring COMMON SENSE back to our nation!

Obama is the candidate for everyone. He transcends race and party lines.
He got a majority of votes in Iowa so stop with the baiting. Obama is also both White and Black, or have you not heard? So to the guy who keeps posting about race, stop trying to paint him as the black candidate….he is the PEOPLE'S CANDIDATE. He is America's candidate: Obama '08

Just goes to show you that what being an old Republican and still greedy for more money can do for YOU.

"'m sorry to say this, but older people have way too much influence on the political proces, mostly because they have the luxury of having time to participate.I don't like 80 year olds deciding what is best for a the country."

Oh really, do you get to choose who should and who shouldn't decide the fate of this nation? Did someone stop you from particpating in the political proces(sic)? I am not going to be 80 for a long time but this attitude is deplorable.

DAVE C in NJ and all others who complain about those nasty loan sharks: No on put a gun to your head to make you sign that loan agreement. Sure these lending agencies are rascals, but you need to know who you're dealing with, and you need to take responsibility for YOUR actions.

Another conservative fan of poverty! What a maroon.

One of the biggest problems with conservatives is the myth of the individual, the idea that somehow we are all independent and don't owe any debt to one another. In fact, everything that happens to anyone in effects everyone. Turning your back on your fellow Americans coarsens our society, straining the bonds that should hold us together. No one is an independent actor.

They also fail to admit the benefits that they do receive. Remember that, in general, the "red" parts of the country are net consumers of tax dollars, the "blue" net donors. My favorite quote is the elderly man who, in opposing universal health insurance, announced "Keep the government out of my Medicare!" We are all drawing benefits from our social structure. We needn't cater to everyone's every whim, but in ignoring the plight of others we risk losing everything.

The old man makes perfect sense to me.

Well, Lester, I'm a Democrat, but you are absolutely right. Owning a house isn't a right, you have to earn it. Nobody - not a single person - who could actually afford a house is in danger of foreclosure. They gambled that they could buy more house than they could really afford and they lost. It's called speculation and there shouldn't be any government financed "do overs". If you can't afford your house, move into someplace cheaper. There are lots of them for sale.

So Conservative 4 Life, you are driving along and a drunk hits you and you lose your mobility. You lose your job, and can't pay the mortgage. You are right…it's all about lazy bums trying to screw you.

But that isn't the normal scenario…the normal scenario is that you were given a high interest mortgage by lenders that exploit those with bad credit and have no hope of paying it back. They know this outright, they just bank on a certain percentage of people paying it back.

Who created the mess exactly? If the sub-prime market wasn't so skewed, the problem would never have existed. So go vote with your big business buddies that cause all this crap in the first place.

This guy is right in a lot of cases. Maybe if people stopped complaining and worked harder things would get done. Look if you're married and there's two of you, you both have to work these days. Suck it up, everyone else is.

Finally…CNN got it right!! they actually talked to the people of this country and wanted to know how they feel and think. They are the true workers of this country and CNN didn't try to shove something down our throats and tell us how THEY at CNN should be. It's about time to do something simple and right, took forever.

The gentleman they spoke to got it right, greed has what got people where they are and time caught up to them, the wolves were nipping at their heals and and caught the idiots that over extended there money and can't pay for their homes, we shouldn't pay to bail the jerks out!

the wolves will feast a long time now, don't vote for Hitlery or we will all be eaten!

Obama 08!

Smell the coffee yet?

Mr. Gilbert's exactly right. Those people got themselves in the mess they're in, and now it's time to pay the fiddler. Instead, they want to just cry about it and hope the Federal government and the American taxpayers bail them out.

It's an attitude that's immature, irresponsible, and down right dispicable. It's the attitude that one of Hillary Clinton's bed-wetting supporters would have!

Give 'em hell Mr. Gilbert!

I totally agree with Mr. Gilbert, with the exception of being in a recession. I, like Mr. Gilbert, do not want to bail out these people, I can ill afford to. I have scrimped, and tried to save (not much mind you), but am able to pay my bills as of now. These people do not take responsibility for their own actions. Furthermore, the ensuing "rebate checks" will not be free by any means. The Government is bankrupt, they are borrowing this money at what percent?? from where?? No wonder this country is in such financial straights with these morons running it, both democrat and republican mind you.

Back to basics, like what the consitution says. That sounds more like Ron Paul's area to me.

Loser Kerry should butt out! He has dissed two people who supported him in his bid for President, and how does he repay them? Clinton and Edwards now surely know just what kind of a "friend" he is–with friends like him, who needs enemies, as the saying goes.

I agree with Stephanie - Mr. Lester Gilbert should run for President!! Todays society have to keep up with the Jones and they should care about only themselves and what they can afford and what they cannot afford. We should not have to bail these people out for homes they could not afford in the first place!! And the lenders should not have given them the loans only to know the loan was going to default!

Kim….we make time for the things we value….don't we? What is it you value?

Clinton is the most experienced to pull the country together. I'm affraid Obama will create a divide among races. Since the Democrat Black Caucus stated the African American's wouldn't come out to vote if Hillary is elected it's pretty obvious race plays a major role in Obama's campaign tactics.

I couldn't agree with him more! That's the single biggest problem we have today. Everyone expects to have the government bail them out for their greed and stupidity.

Thank you Mr. Gilbert. I didn't make the loans, I didn't get to live in the nice house, drive a new SUV, go boating on the weekend. Why should I pay for it??

It's simple economics, folks. Give people free money and they pump into the economy. It's done because it works, quite frankly.

I too don't care for 80 year olds deciding what's best for the country.

"I don't like 80 year olds deciding what is best for a the country."

I don't like anyone deciding what's best for me! But that's exactly what the Democrats insist on trying to do. They want to tell us all how to manage our own health care, our retirements, and how much of the money we earn has to be given to total strangers who have somehow become "entitled" to the contents of our wallets. And every single one of these attitudes reflects an abject contempt for our ability to make those personal decisions ourselves.

I get the strong impression that, secretly, the Dems running for office think of themselves as the parents to an entire nation of not-very-bright children. And that people who vote for the Dems just want Mommy Hillary and Daddy Barack to take care of them so they don't have to take any personal responsibility for their own affairs.

Amen Mr. Gilbert…The Boomers think EVERYTHING is entiled to EVRYONE and the sad thing is they've convinced many X-ers of the same thing. Many people have become blind, whiny, sheep that feel they simply DESERVE anything without consequences and if something does go wrong…well, it certainly can't be their fault. Regards…Steve 34

Stupid comment Kim! Personally, I don't mind any American citizen having a opinion about the county, no matter what their age. And by the way, it's the 80 year olds that made this country what it is by being willing to sacrificing their lives during war and working their tails off when they returned to do what was best for this country. I wonder how they feel to see the younger generation piss it away.

Kim, if you don't like 80 year olds deciding what's best for the country, then go out and vote yourself (the "luxury of time" argument is flawed; voting is not a luxury to be indulged in, it's a responsibility to be taken care of).

The imbalance of one demographic of voters exerting influence on the political process is not solved by reducing that group of people, but rather increasing the other groups.

Or in other words, responsible citizens who vote should not be penalized for the laziness and misplaced priorities of those who are "too busy" to vote, but seemingly always find time to complain about the elected leaders.

This man speaks the truth. When I receive the $600 it is going into my savings and I am not spending 1c of it. The truth is that the corporate tax breaks may stimulate the economy but it most likely will just increase very few persons bottom lines over the cost of the rest of us.

It is TIME for a Democratic party to enter the White House. I wonder who Mrs. Clinton who ask to run with her for Vice President, I hope it will be someone good.

Obama has promised to pimp my ride so I can buy my teenager a new ipod and cell phone that they can play with as they fail their way through high school and then blame the teachers for not being able to get a job beyond flipping hamburgers. Luckily I will join the union so that Obama can double my minimum wage so I can have even more children to repeat the cycle all over again.

Keep working hard Lester Gilbert- the poor people watching day time television are counting on it.

Thank you, Mister Gilbert. Fiscal irresponsibility is what is plaguing our economy, and it's not just congresss and the senate! There are too many Americans ensnared by deficit spending. Why is the housing market going belly up? Because people have been trying to live outside their means. Why is there no real money in the economy? Because people are running up thousands of dollars in consumer (read unneccessary) debt! Too many people are too willing to point the finger of blame at others for their economic woes- "The rich don't pay enough taxes" "Government doesn't give out enough entitlements," but I wonder how many of those same people refuse to stop eating out or to give up their 180 channels and TiVos. I know there are some out there who legitimately do their very BEST to do without and scrimp and save, but most Americans don't know what real poverty is. All we have to do is to look at other places in the world to see how good we have it. So before you start complaining, don't forget it's your privilege to have a TV, a privilege to have a car, a privilege to have your X-box, a privilege to have your lap-top, a privilege to have your iPod, NOT A RIGHT!

He said he was conservative, not Republican.

This guy is absolutely correct. Too many people manage their money poorly. Basic "earning, saving and spending" common sense needs to begin in elementary schools to install good financial habits for their future.
Just listen to the big name financial experts…..Orman…Ramsey….and others; they focus on common sense.

I'm an Independent now after many years as a Dem. My other post is in moderation. I don't expect it out anytime soon. My view: we have worked our butts off and saved. If we can't pay cash we go without. I don't want to bail anyone out.

This guy is right on and Gee — you're an idiot. I've wasted the time in reading some of your other comments and clearly you're so far left that you will never be right. As a person who is slave to no political party, I can honestly say it's time for people to start taking responsibility for their own actions and for the Government to start holding big business accountable for their corrupt and deceitfult actions. Problem is — all of these fools are in bed with whoever has the money. And right now, it sure isn't the regular american just trying to make it.

I find it funny when conservatives preach personal responsibility and minding your own business but when it comes to gays and lesbians wanting marry and be happy. They trot out their holy men (Robertson, Dobson, Perkins, Donahue) and I use that term loosely to say that its evil and we must protect the children, America will be destroyed if "those" people get to marry. Gee what happend to staying out of your life then? Dont vote for Republicans who say they will stay out of your life and then turn around and pander to the religious right. Dont vote Democrat who will take your hard earned money to pay for those who wont work. Vote Libertarian.

Gilbert,

You own economy will go belly up with theirs too. CNN educate the people instead of having your reporter stand with his gran pa and lie.

The economy affects everyone. Hence Gov has to get invloved or he will get thrown out of the job he has or you CNN layoff this reporter because of no adverting dollar.

CNN stop the lies. It is a world economy and it affects everyone.

Finally someone says it as it should be said. Mr. Lester Gilbert should run for President.

Well they are working AND collecting Social Security, Medicare…..

I'm sorry to say this, but older people have way too much influence on the political proces, mostly because they have the luxury of having time to participate.

I don't like 80 year olds deciding what is best for a the country.

He's right, noone wants to be held accountable for their financial woes, and that includes Congress and th President.

When these people took out these loans they and the lendors knew they couldn't afford the payments, much less the interest payments. I've gone through this process and from what I was required to present it is apparent there was a lot of lying and manipulation of fianancial documents to get these loans processed through the various underwriting departments.

Let the mortgage lenders and underwriters pay for their mistakes now — they've already made their huge profits — so be it. Then the 'unfortuante (sic) homeowners can face foreclosure and the end results. I dont' feel sorry or any pity for them they are the ones buying homes well beyond their means with 1-2 mortgages taken out to make the initial down payment and subsequent house payments, plus their car payments and credit card bills all rolled into their home loans.

It is about time people lived within their means and that house prices were adjusted downward. Its ridiculous how high their inflated prices have risen.

I mean that it's a good typical republican attitude.

Typical Democrat blog…."the sky is falling…the sky is falling….gimme gimme gimme….what can the government do for me now…I have given up on helping myself….I need some of that rich american money….and free programs…" - Gee..give us all a break….

Take care of ourselves? What medication is he on..

someone with common sense — a rarity on CNN!

Typical liberal comment.

This old man could not be more right. Everyone has to buy, buy, buy. No one saves. Have too much credit card debt? No problem! File bankruptcy and let some else pay for it. In fact, the government and everyone who makes more money then me should pay my bills!! How sad….

Can't afford that house payment? Why did you buy in the first place?

Want to make more money? Get an education!

Personal Responsiblity = an American Value that has long been extinct.

This is the dumbest, non-news article I ever read.

Lester Gilbert for President!!!!!!

Gee
January 25, 2008 1:20 pm ET

Typical republican attitude.

Whats wrong with personal responsibility?

Lester is 75, so he grew up during the 50's and 60's when we experienced phenominal growth in our economy. If he has trouble seeing where people are in trouble, tell him to stop in some of the small towns and actually go to places that poor people go to…the dollar store and discount grocery stores. I know I am a school teacher, hold a bachlor's degree, and bring home (not gross) approximately $22,000.00 a year. I raise my two children and support my elderly mother on this amount, then I am hit with studenmt loan payments of $285.00 a month. I figured it out, and on a 19,000.00 student loan, my "low-interest" government loans (which I will make my final payment on when I an 70) will be paid back for a total of $85,500.00. I know that I have experienced "being down", and it is no fun, and it seems like I am gonna experience it until I am 70, but my heart goes out to those who are in the same boat. Whatever happened to christian charity?

You're right Gee, it's just pathetic that people need to be responsible for their own actions. What are those Republicans thinking?

Times have changed. We now have the internet, running water, and electricity.

I myself went into foreclosure because of a messy divorce and got no bailout, so I can understand why this old "walked to school in the snow uphill both ways" type of guy doesn't want to see anyone get a hand

But does he realize that the mortgage industry is a collective greedy pig that dumped impossible loans on many of us and warrants reform?

He needs to turn the calender to 2008, lose the flannel, and get a younger wife.

Mr. Gilbert, you just don't understand. It's "free" money when it comes from the government. Just like universal health care. It's free! Aren't you listening? Oh, wait a minute…the money has to come from somewhere, doesn't it? Oh no, oh no, no! I just realized that "free" money was coming frome me! I have to earn it so the government can redistribute it…sounds kind of like the Soviet Union…

You are right Gee. A typical "telling it like it IS" republican attitude. To bail out people who are not living responsibly only enables and encourages them to continue living irresponsibly and then expect other people (who do often go without) to bail THEM out. Lester Gilbert obviously knows the truth and lives according to it. Too bad there aren't enough people like him around. Thanky you Lester; you are an inspiration! Your wife, also!!!

I couldn't agree with this man more. It is not our responsibility to support people who are irresponsible. People say they can't afford to live, but they are talking on their cell phones, while driving their new cars with satellite radio and DVD players on the way to pay 10$ for a movie ticket after their fast food meals. The person who best agrees with me on this is Ron Paul. His economic ideas are second to none in my opinion. Look into him at ronpaul2008.com. The media won't tell you what he thinks, because he is not the most popular, but he has great ideas.

"Typical republican attitude."

What attitude is that? The truth?

Why pay now for what you can put off til a later date. Congress and the White House are both trying to stave off a recession and put money in peoples pockets right before an election. Those who understand economics will say this will be such a short term fix and will not stop the bigger problem. Yet it will increase out debt and possibly our trade deficit. Greenspan for years said American's are not saving. We are not offically in a recession. This stimulus package is really an election year ploy. Huckabee was right, if we buy foriegn products we will help other countries more than our own. I do not support Huckabee, but he was correct.

And you think anything will be different with Hillary? NOT A CHANCE, we need sombody like Obama, that started at the bottom. Someone young like Obama that has many years ahead and will not burn himself.

Obama is really the only candidate who is best qualified to unite the country and get things done. Obama does not have the negative political history that the Clintons have of fighting with the Republicans. This country is in crisis and can not afford 4 years of gridlock and special interests with Hillary We, together, can change this country around with Obama.

He is realistic and upfront with America. He is a candidate we can trust. And we can trust that he has listened to us and will really work for us. And with increased bipartisan support, he can actually get the job done.

Hear hear!

Had to talk to a conservative in Abiline, trust me there are no liberals there.

Lester must be a republican.

I agree with a lot his views. When you buy a home you sign a contract. It is your responsibility to read the contract before you sign it. It is unfortunate that people with sub-prime mortgages are in danger of losing their homes but if they could not afford the house to begin with why in the world did they sign to mortgage contract?

Our society has become one of entitlement. We are in the solid grasp of the "gimme" generation. Why should I do well in school and further my career when the government will just "gimme" money anyway? Can't afford my home? No worries. The government will "gimme" money to pay off the debt. I'm not willing to pay the extra cost for green electricity but you better "gimme" cheap power for my video games. Gimme health care. Gimme cheap gas. Gimme gimme gimme. I'm not going to work for it myself. Just gimme.

This definitely is not the United States my parents were born into. No wonder the rest of the world points at us and laughs.

Typical republican attitude.

Finally!!!! They interview someone with some principles and some common sense!!! How many 10 or 20 year old cars do you see on the road on your way to work? The vast majority of what I see every day is 3 years old or newer with every possible option being driven by someone talking on a cell phone or playing with their iPod. These things are all nice, but if you are really that bad off, you'd be driving a car that is paid for, calling people only when you had something worthwhile to talk about other than "hey, what are you doing" (from your home phone no less), and listening to the radio!

this is honest reality……Clinton and most other political figures keep blaming banks and wall street…did anybody force these peoples pens to paper? no….that's the story of life you fall…stand up dust off and keep going….let's be frank the people who got themselves into the subprime mess should get a large portion of the blame…JFK championed individual responsibility….wherever that mentality is?

I notice that small town America is shown in this piece. I drive through small town America, also known as "fly over country". I see signs, posters, bill boards and even people's houses painted with signs for Ron Paul. Why doesn't CNN cover this? It seems to me, as someone that doens't pay attention much to politics, that the news media is deliberately blocking out what these commoners are interested in. They seem to really like this Ron Paul guy. Why doesn't any of the news outlets have any information about him on their websites or TV coverage? It just seems odd that a news organization would ignore someone that seems so popular among the little people. I never see signs or interest in anyone else but I can't drive a mile without seeing a Ron Paul sign. I'm just curious. Thank you.

Hate to say it, but I absolutely agree with him.

Americans buy too much house, too many cars, fill their cupboards and closets with garbage, and can't park their cars in the garage because it's filled with even more crap. We invested the few dollars we could. I don't want to bail you out.

Americans took out equity loans so they could go on multiple vacations, buy more cars, got greedy and bought second homes. We went without vacations and put the money in retirement. I don't want to bail you out.

People bought homes with no legitimate income! I question if you are in the country legally. I don't want to bail you out.

People buy big screen tvs and whine about the cost of medical care. People buy SUVs and can't afford the gas. We chose not to buy a big tv or big cars. We put money away for college. I don't want to bail you out.

We chose to have less house (paid off), fewer cars (paid off), no debt. If we can't pay cash, we go without. We work, we save. We work more, we save more. We never touch our savings. The stupid check from the 'stimulous' package, is going in the bank too. I don't want to bail you out.

Get it together, stop whining and keep your hands out of my pockets.

We scrimped, we saved, we struggled. I dont' want to bail you out.

In response to Americans begging others to spend at the World Economic Forum

Cheng Siwei: The Chinese save today's spending for tomorrow, and the Americans spend tomorrow's savings today.

Please note…. the room collapsed in to laughter and applause.

The world thinks the debtor mentality of Americans is a joke and so do I.

I agree completely with Mr. Gilberg's statements. People need to learn to go without.
Before I was married I was a homeowner, debt free (execpt for monthly house payment) and I have never worked a job that paid over $25,000 a year. My husband and I (we are 29 and 30) are probably more financially secure than a lot of people are who are ready for retirement. Why? Quite simply - we didn't and don't waste our money on things we can do without. I'm not so sure this country doesn't need another Great Depression to see what a wasteful, spend thrifty nation we are.

Mr Gilbert is lucky he has a job.

He is lucky that his job has not been replaced by some illegal alien or outsourced to China somehow. I think he doese not see the bigger picture here.

Lester Gilbert 2008 … I'd vote for him!!

this guys is absolutely right! people are complaining about not being able to pay for their cars and houses but they can still afford to buy two or three starbucks a day. people need to learn how to save again and live with the bare necessities if need be.

i agree with you sir…we need to look in our own back yards for once…it is always good to help others, but take care of your own first, which hasn't been done in the bush era…all i see now is bickering and jockying for the top spot… what will they do when they get there? have a duh look on there faces? Basic is a good thing. we do need that more now than ever.

I agree with this gentleman's statements. People have the tendancy to over spend and get themselves in to trouble by not living within there means.

I take great care not to get into financial trouble by living on less than I make.

Ah yes,

One of those folks who harken back to a simpler time when people paid cash for everything. Good idea about letting the home mortgage industry go belly up so that banks can lose billions in the process making it harder for everyone else to get credit.

Thare are many people who are in trouble due to over extending themselves but there are so many more who are hard workers who pay the bills and find there is nothing left over to pump into the economy. Without that disposable income there is nothing to create jobs for goods bought with it.

Hey, I'm sure that everyone pays cash for those RV's he delivers!

Who cares about this guys opinion?

I know I don't