Is the Bailout needed ? Many Economists say 'no'

Is the Bailout needed ? Many Economists say 'no'

www.mcclatchydc.com

WASHINGTON — A funny thing happened in the drafting of the largest-ever U.S. government intervention in the financial system. Lawmakers of all stripes mostly fell in line, but many of the nation's brightest economic minds are warning that the Wall Street bailout's a dangerous rush job.

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Congress is under the 'gun'; with the Federal Reserve Chairman Bernanke , and Bush warning of a totall economic collapse should the 'bailout' take any longer. We need to realize that this 'bailout ' will have no immediate effect on our economy ;layoffs will continue leading to more foreclosures and more hardships for banks. Yes hard times are coming, and we all will have to live whithin our means. Tell your Congressman 'NO' via ' votenobailout.org'

www.mcclatchydc.com
(visit the link for the full news article)

Reading the paper here in Toronto today, it really put things in perspective for me.

700 billion, divided up across everyone in North America (US, CANADA, MEXICO) would give each person approximately $2,300 dollars.

... HOLY %%%%%


Just how bad off does the White house think the nation is?

This isn't a stimulus package, this is enough to START a nation.

But... seeing as it's coming from the same nation that's to use it... it's a delayed suicide attempt.

I understand the bailouts are necessary... but 700 Billion Dollars necessary?!


You just know who's going to end up with that money. And it's not going to be the hard working men and women in the industries. In fact, it's just going to make what money THEY have, worth even less.

The bail-outs are not needed because a recession is going to come no matter what. The bail-out money should be used for legal aid funds for the average Joe rather then the bankers. If you give them $700b you are only putting off the inevitable just for a little longer.

Originally posted by johnsky
Reading the paper here in Toronto today, it really put things in perspective for me.

700 billion, divided up across everyone in North America (US, CANADA, MEXICO) would give each person approximately $2,300 dollars.

... HOLY %%%%%


Just how bad off does the White house think the nation is?

This isn't a stimulus package, this is enough to START a nation.

But... seeing as it's coming from the same nation that's to use it... it's a delayed suicide attempt.

I understand the bailouts are necessary... but 700 Billion Dollars necessary?!


You just know who's going to end up with that money. And it's not going to be the hard working men and women in the industries. In fact, it's just going to make what money THEY have, worth even less.

you know that if this bail out would be like giving each American $2,600, it also means that it will COST each American that same amount, only the price will only be felt by US citizens, and even then the poorest will not pay a dime. expecialy those people that baught a house they could not afford.



the real issue that I have is that IF we do the bail out thing and IF they do pay the government back Americans would not see a nickle of that money returned to them. The rich (yes the rich) people who paid 80% of that bill (that is about what % the top 10% of wage earnes pay of the total federal income tax) would see that money going toward a government program that helps encourage poor (yes I said poor ) people to stay poor by subsidizing their life style.

Look a New Orleans 10 years of a well fare heaven and the people don't even know how to get out of the way of the hurricanes any more. They waited for the government to come and move them.


So, NO we do not need a bail out. People who invest are GAMBLING. Go to Vegas and lose your life savings and see how fast they bail you out.