"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
I’m with you. Those investors who took the risks need to bear the risks.
There doesn’t seem to be a right or wrong side of this. Both sides have strong points. Some of the them are right when they say we need transparency - especially the public. None of us know exactly what’s in that 700 billion. We need to know who gets what. Plus, I don’t like the Sec of Treasury having a blank check with no oversight person to watch what’s going on. That is a door we never want open. We, the public, would never know where the money is going.
One point I see is not being addressed: How is bailing out the banks going to help a homeowner who cannot afford to pay their mortgage payment?
One thing I agree with you one is allowing the market to do its job. I am noticing is how the market is still correcting itself. I see oil dropped to $96 a barrel. House prices will go down and interest rates will go back up. This is how a free market works. Seems our government like any past Kingdom is trying to convince its peasants that they don't know what to do without the King/Queen telling them what to do!
I don’t like it when they try to rush things. There is no reason this has to be done overnight. That’s what they’re trying to convince the public.
The big issue I’m hearing on reports is if we don’t help out the banks they won’t be in a position to loan money to companies and in turn companies will have to start laying off people because they don’t have money.
I’m not sure that this is totally true. Maybe only to badly run companies? Surely small business owners may suffer.
One point I've noticed on MSM that's not being brought up is that a well run company has a good cash flow. They do not have more debt than revenue. Plus, there are banks (mostly local community type banks) that did not dabble in sub-primes and can still do business. They will benefit from this I think.
I don’t like the way Repubs & Demrats are putting the pressure on the situation. I’m sure they will pass something, but I don’t see the rush. Probably trying to impress the voters before Nov?
Where are the economists who know how a free market works? We need their voices, loud and clear.