The BIG Bailout

Jim · 2008-09-26, 10:48 AM

I have to admit I am 100% confused about spending $700 Billion to bail out wall street. And, I have been watching it very closely.

It doesn't help that Bush says we need to do it and Democrats agree. And yet, Republicans are against it. I see that it has turned very political and that was to be expected. But, who is right and who is wrong?

I would have much rather seen a new stimulus package where every US family received $5k. That would save about $200 Billion and it seems to me that it would have the same effect. Then again, there would be no chance of payback. Oh WTF..my head starts spinning when I think about it too much.

Anyway, being totally honest with each other, I think most of can see that when we first discussed our business as being recession proof over a year ago, those that said we would be, were wrong. But that seems to be a different discussion at this point.

So, if the taxpayers bailout wall street, will banks loosen up credit and make life go back to normal? Or, is it just a complete waste of money?

2008-09-26, 10:48 AM	#1
Jim Banned Join Date: Aug 2003 Location: Mohawk, New York Posts: 19,477	The BIG Bailout I have to admit I am 100% confused about spending $700 Billion to bail out wall street. And, I have been watching it very closely. It doesn't help that Bush says we need to do it and Democrats agree. And yet, Republicans are against it. I see that it has turned very political and that was to be expected. But, who is right and who is wrong? I would have much rather seen a new stimulus package where every US family received $5k. That would save about $200 Billion and it seems to me that it would have the same effect. Then again, there would be no chance of payback. Oh WTF..my head starts spinning when I think about it too much. Anyway, being totally honest with each other, I think most of can see that when we first discussed our business as being recession proof over a year ago, those that said we would be, were wrong. But that seems to be a different discussion at this point. So, if the taxpayers bailout wall street, will banks loosen up credit and make life go back to normal? Or, is it just a complete waste of money?