Who is going to pay the bill on the subprime loan meltdown – YOU ARE! Once again, we see the people that profit from grand schemes, cutting corners, shady deals, and lining their pockets are closing their doors, but keeping the money they made off questionable deals.

Here are just four of the stories on the net today:

Schumer calls for subprime bailout – New York Democrat wants funds to help subprime borrowers.

According to the Center for Responsible Lending, up to 2.4 million subprime borrowers are in danger of losing their homes to foreclosures over the next couple of years.

Mortgage applications continue skid – Down for the fourth straight week; sharp decline in refinancing activity offsets uptick in new home applications, MBA's weekly index says.

Mortgage applications in the U.S. declined for the fourth straight week as a decline in refinancing activity offset an increase in new home applications, according to the latest report by the Mortgage Bankers Association.

Therapy for you and your adjustable-rate mortgage – If you're having trouble paying your mortgage because your interest rate adjusted upward recently, it may be tempting to ignore the problem and hope you win the lottery — but this is exactly the wrong approach, of course, according to the experts. What you should do is let your lender know about the problem *before* you default on your loan.

Mortgage Mania – Part 3 – However, the article goes on to note that lenders have changed their guidelines, and that highly leveraged loans that are the bread and butter of first-time homebuyers are going away.

There's another article out there abut how the Alt-A loan market is starting to feel the effects of the subprime problems. 

When is enough going to be enough for the American taxpayer. We are already having to bailout the pension funds of many companies that decided pensions were just too expensive. How they were able to talk the bankruptcy judges into letting them saddle the taxpayer with the bill is beyond me.

Who will even read this post – according to the info below – not the people in trouble with their loans. 

Seventy-six percent of US internet users earning over $150,000 per year read blogs, up from 57 percent 2 years ago, according to a recent survey by the Luxury Institute. And would you believe 24% of them are bloggers themselves? What’s also interesting is that only 25% of general internet users read blogs, with a scant 9% writing them. This is according to the Pew Institute and American Life Project.