I’m certainly no financial expert but I have a pretty good idea taking $700 billion from taxpayers is going to hurt our descendants in the future. Maybe it’s time to just tough it out. So we can’t borrow for a few years. Maybe that’s a good thing.
I really don’t know but I do know $700 billion is a LOT of money.
The hope is that much of this will come back. It’s not free money for these companies, it’s an investment and/or loan. Under the best circumstances the return will exceed the outlay, but I don’t expect that to happen.
Comment by Daryl — Monday September 29, 2008 @ 10:48 am
And not being able to borrow for a few years means more than that we can’t use our credit cards or get a home mortgage. It means that small businesses won’t get started, or will go under. It means that large businesses will have hard times and maybe go under. It might mean the Great Depression all over again, or worse.
Comment by Daryl — Monday September 29, 2008 @ 10:50 am
The reason this failed today is because it’s extremely unpopular with the people. The people don’t want to see Wall St. get a bail out with public money. It’s not just Republicans. It’s around 2:1 against in the general public.
Comment by Don — Monday September 29, 2008 @ 12:35 pm
What we really need is better education for the masses. Your money is safe, if you have more then $100,00.00 in one account, the banks have ways to help you protect it. That and much more need to thoroughly be explained.
Comment by Jocelyn — Tuesday September 30, 2008 @ 7:37 pm