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As far as I see it..............the government HAS to pull out this money because if more banks and large financial companies keep crashing and folding, then there will be no American economy left to save.
The money comes from the US treasury and I think mostly by nationalising the companies in troube..............the treasury money is obvious but the nationalising means that the government takes on the debt of these companies (usually mortage lending money and such) and the re-distributes its cost through...............wait for it..............THE TAX PAYER!!! hence the "national" part of the word.
The more and more financial institutions become at risk, the more and more stocks fall, the less and less profitable trading happens..........the less and less money is made.
So the bail-out plan has to happen and it has to happen soon.
Shows you how pathetic and fragile this world is really, when a mere threat or concern that something is in trouble, causes the stocks to be sold and crash and the thing that WAS in trouble, now IS in trouble.
This affects the whol world un-fortunately, and over here, we are only in a near recession because of what has happend in the US.............thanks!
Ps: I dont know anything about the bail-out plan and why it was denied...........probably because all the rich delegates realised they were going to lose money.
Joined: Sun Feb 10, 2008 6:05 pm
Location: Sucka Free City
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I think they should scheme the bail out plan in such a way that those companies eventually have to pay it off, not the American tax payer.
They are the greedy bastards that encouraged risky lending so they should pay it off.
What they are doing now amounts to what Hoover tried to do during the Depression. A few months later, the banks were all failing again.
It wasn't until Roosevelt came along and had the government take over all the bad loans, giving people a fixed rate 30 year time period to pay it off, that the economy started to turn around. People want a hand up not a hand out!
Build the economy from the ground up, not the top down....
http://www.youtube.com/watch?v=I3pIsA0Q ... re=related
Steph Curry fakin Chris Anderson out of his jock: awesome!
look on Turiaf's face: priceless
Joined: Mon Jun 13, 2005 10:21 pm
Poster Credit: 20
jeez xbay, u read my mind, i was thinking about starting this thread.
But yeah, back to the topic, i hate the idea of even remotely helping those greedy SOB's that got of here, but businesses need the loans to survive. If the bailout doesn't happen, it will only get worse. Im glad this particular one failed as it was too "Bushy", so congress will add more good stuff in there that will hopefully be a little more for us taxpayers interest.
5 posts • Page 1 of 1
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