Economic Bailout

@pauld43 (194)
United States
October 1, 2008 3:32pm CST
I was wondering how the MyLot community felt about the rescue plan for the economy .Is it truly necessary or can our economy survive without it ?Why would you be in favor of it or why would you be against it ?What could be the repercussions if we don't do it and how will it benefit us if we do .
2 responses
@dark_joev (3043)
• United States
1 Oct 08
Well, the bailout didn't happen and the DOW lost like 777 points. So now we have to bailout these big companies because they don't know how to manage there money. We should of bailed them out becaues now we have to do it for even more money
• United States
1 Oct 08
I disagree that we have to bail out those companies. We don't. They had very high profit margins and lots for their shareholders .. the bailout can start from their. Then they can streamline their businesses and get a more "Realistic" shareholder rewards. We are being asked to support those companies, and its wrong. They will find ways to cut corners, drop some of teh outrageous CEO salaries and such. Start using realistic business practices and not depending on the very peope they take advantage of (general public) to bail them out. Other and smaller businesses do not get that luxury, nor should they. It is time they act like a business not a public supported government agency.
1 Oct 08
Either way, I'm not sure this $700,000,000,000 (look at those noughts!) bailout will make a great deal of difference long-term. It may bring some short-term stability, but it's like the US government, care of the taxpayer is STILL living on the never-never. SOME ONE has to lend this money to the US. Will it be the Chinese, the Japanese? And they're going to want their pound of flesh. I'm not too surprised that all those Congressmen (and women) baulked at voting this Troubled Asset Relief Programme (TARP) through. After all it will be mainly their voters paying through increased taxes over many years for this financial fiasco. Seriously, in the short to medium-term future, the US dollar may well lose its status as the international reserve currency of choice... There is a limit to how long the US government can continue to bailout the financial system.