Anyone have an opinion on the $700 Billion bailout?
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Young Alaskans - Discussion » Issues » Economy
Seven Hundred Billion
(8 posts)-
Posted 1 year ago #
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You bet I do. The fat cats in the mortgage companies have been paid ridiculous amounts of money over the last few years, and now are going to be living out their days on private islands, while the American people deal with an outrageous national debt load. Don't get me wrong, I believe that the corporate structure can be efficient, effective, and in many cases a wonderful tool for prosperity and job creation. However, when companies get greedy, exploit the insatiable desires of Americans, and aren't held accountable, I am not supportive.
I was in a real estate closing a week ago and I was talking with the escrow officer about the bailout, the mortgage crisis, and predatory lending practices. She had concrete examples of instances where home buyers knew they could afford the homes they were buying, but the realtor and finance company assured them that everything would be fine and that "we can work out any difficulties later, and refinance the loan." What a crock, that our US senate has approved a bill that gives so much power to the Treasury in distributing money that we don't even have. I could go on, but I will give someone else a turn to voice a perspective.
Posted 1 year ago # -
Well it is sad that this topic hasn't had any addition in the last two weeks... With the bailout i don't like the fact that we got in the situation in the first place, but i agree that we needed to take decisive action. I don't think that this was the decisive action needed, but it had some potential. The only problem is that the Secretary of the Treasury didn't carry through with their original intent. Now they are coercing banks that aren't failing, i.e. Wells Fargo, to sell stocks to the government. As was demonstrated by America in numerous points throughout history government intervention in economics tends to lead to disaster. Where we are going to go now is a scary thought...
Posted 1 year ago # -
the bailout was top class welfare, disgusting
but instead of sitting around trashing it, why dont we all talk about altrnatives to the bailout, like what we would have done
capital gains tax to start
Posted 1 year ago # -
What we would have done is less important then what we are going to do. It is almost certain that this governmental intervention in the economy will end poorly. We as citizens of America and Alaska need to start making economic buffers to this impending disaster.
Not to mention the unconstitutional haze surrounding the entire issue, but this entire bill is extremely controversial and where is this intervention going to end?
Posted 1 year ago # -
well if you project where we are heading based on what we have done, you can say this
in 1952, US government was responsible for 3% of America's GDP
in 2007, they were responsible for 30%with this bailout and how much the government is sticking their fingers in business, you can bet that will rise exponentially
Posted 1 year ago # -
OK so it's going to boom, but what can be done about it? what actions are we going to have to take? As a state i feel we need to move away from allowing foreign companies come in and utilize resources that we ourselves could harness. Pebble Mine being a prime example.
Posted 1 year ago # -
what kind of "economic buffers"?
This bailout is getting US in debt with all the wrong countries--so far I can't see any way to pay it off without selling ourselves in some kind of Faustian bargain. (not to be depressing or anything)
Posted 1 year ago #
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