Do the Bailout Changes Mean the Financial Crisis Is Getting Worse?
Treasury Secretary Henry Paulson announced that the $700 financial bailout will now focus on shoring up financial institutions that offer consumer credit instead of on buying troubled assets. Is it a good move or is it evidence that the financial situation is getting worse? Post your thoughts.
Previously: Is an Auto Industry Bailout a Good Idea?
Reader Comments
Defect spending is not the answer....
Noteworthy comment from Robert Harris, "Does Rome's fate await the US?," Sunday Mail, October 12, 2003:
"Might Washington, like Rome, fall victim to imperial overstretch? Could military force abroad eventually have to be withdrawn because of bankruptcy at home? Might the whole idea of America eventually be challenged and destroyed by some charismatic new faith: some fundamentalist variant on Christianity? Or will nature disrupt America's new world order?"
Maybe it's best to purge and start anew so we don't end up like the Roman Empire, European Imperialism, Industrial Revolution...and ahhh the spend-happy 20th Century. Why try to fix (or I should say throw MORE money) at what can't be fixed. The auto industry's struggle is nothing new. Give them a bailout and they'll stand in line, like AIG, and ask for more.
The new American Enterprise....Privatize Profits / Socialize Losses. So sad.
Changes??
HEY!!! WAIT A MINUTE. LET'S TAKE A REAL GOOD LOOK AT WHAT HAPPENED AND WORK OUR WAY BACKWARDS TO THE SOLUTION. COOLER HEADS MUST PREVAIL SO WISDOM CAN BEGIN TO RESOLVE THE PROBLEM. WASN'T IT THE HOUSING MARKET THAT STARTED THIS DOWNWARD SPIRAL? SOMETHING MUST BE DONE TO STOP THE BLEEDING IN THE HOUSING MARKET. FIX THE ARM LOANS AND KEEP THE PEOPLE THAT STILL HAVE THEIR HOMES IN THEIR HOMES. THEN FIX THE INSTITUTIONS THAT MAKE LOANS TO THE PEOPLE THAT WANT TO BUY THE AVAILABLE HOMES. THEN WORK ON GETTING PEOPLE BACK TO WORK SO THEY WILL HAVE MONEY TO SPEND ON THE NECESSITIES AND LUXURIES TO RESTART THIS ECONOMIC ENGINE. REMEMBER IT WAS SOME REALLY SMART PEOPLE THAT FELL VICTIM TO GREED THAT STARTED THIS DILEMMA AND THEY SHOULD NOT DISAPPEAR UNBLEMISHED. IT WILL TAKE SOME EVEN SMARTER AND WISER PEOPLE TO FIX IT, IF THEY REALLY WANT TO FIX IT? WE NOW HAVE A LEADER IN THE PRESIDENT ELECT BARACK OBAMA THAT CAN INSPIRE THE PEOPLE. NOW WE NEED SOME LEADERS WITH INTEGRITY TO ACT ON BEHALF OF THE PEOPLE. LET'S GET MOVING PEOPLE!!
bailout
TO TALK ABOUT WHAT SHOULD OR SHOULD NOT HAVE HAPPEN IS NOT IMPORTANT AT THIS TIME. wHAT CAN BE DONE TO HELP FIX THE PROBLEMS? WHERE WERE ALL OF THESE PEOPLE WHO THINK THEY HAVE THE ANSWERS? WHY DIDN'T YOU STEP IN AND HELP OUT? PRESIDENT BUSH NEEDED YOU THAN. HIS PARTY HAD CONTROL OF THE HOUSE MAYBE WE DO NOT LIKE THE BAILOUT BUT, MILLIONS OF PEOPLE ARE IN TROUBLE AND IT'S NOT THEIR FAULT. DO WE LET THEM DOWN? I THINK NOT.
advertisement
