Should the Federal Government Provide a Bailout for the Financial Crisis?
Resistance is growing to the $700 billion bailout plan—is it time to wholly rethink it?
While legislators still express confidence that they will enact some sort of bailout package for Wall Street, resistance is growing to the administration's $700 billion plan, especially among Republican lawmakers. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke were not warmly received when they testified on the Hill, and Vice President Dick Cheney's visit to House Republican legislators was disastrous. Is it time to wholly rethink the bailout? Should the federal government bail out Wall Street? Post your thoughts below.
Previously: How many strings on the $700 billion bailout?
Reader Comments
F*** the bailout
Why would you call the arsonist to put out the fire. It is the governments fault for getting us here in the first place and I think that we need to take caution in trying to let D.C. fix it. Give the mpney back to the people. NO Bailout.
no bail out
Congress does not have the constitutional authority to transfer its power of the purse to the Secretary of the Treasury. Some group should challenge this bail out in court.
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