Protesters enter Bear Stearns headquarters

Source : Reuters

"NEW YORK (Reuters) - About 60 protesters opposed to the U.S. Federal Reserve's help in bailing out Bear Stearns (NYSE:BSC - News) entered the lobby of the investment bank's Manhattan headquarters on Wednesday, demanding assistance for struggling homeowners.

Demonstrators organized by the Neighborhood Assistance Corporation of America chanted "Help Main Street, not Wall Street" and entered the lobby without an invitation for around half an hour before being escorted out by police.

"There are no provisions for homeowners in this deal. There are people out there struggling who need help," said Detria Austin, an organizer at NACA, an advocacy group for home ownership."

I'm not sure if the "struggling" homeowners understand that they were the reason why Bear Stearns collapsed. Bear got them into trouble, got the investors they represent into deeper trouble while the people that took on loans without understanding their responsibility just simply defaulted. They need to take a step back and see who the real victim is?

Poor home owner that took out a home equity loan to buy a fancy new car and defaulted the payment or the tax payer that is now going to pay for the riches of those that did not live with-in their means.