The lower house of the US Congress has voted down a $700bn (£380bn) plan aimed at bailing out Wall Street. Does this mean that the US is screwed?
by 
Wulfweard
ANSWERS: 11
-
I think the bailout would do little at all,and is like a bandage on a dam that has sprung a leak.It was fortunate that it was voted down,and possibly delayed until a new president is elected.Politicians know the public is against the bill and do not want to be voted out of office by voting for it.Why should taxpayers offer Wall street a golden parachute to bail them out?
-
No bailout, hello depression.
-
Financial crystal balls are notoriously unreliable. Who knows what will happen, really? It does seem likely that we are headed for increasingly hard times in the U.S., and that tends to spill over into other countries because of the many economic inter dependencies in the world. But is the bailout worth the cost? How often should we avoid a painful lesson by borrowing our way out of it? And will it actually avert the problems? Will the benefits outweigh the costs? That's hard to say. One thing that I don't like about the bailout is the very reactive nature of it. When government tries to solve a problem quickly, it has a tendency to do a poor job of it... all that fear and drama cranks up the stupidity knob a few notches.
-
http://money.cnn.com/2008/09/25/news/economy/colvin_economy.fortune/index.htm
-
They will pass it, they just have to keep going until they get it right.
-
Could be. We'll have to see how the markets react today. I don't know why they haven't followed Belgium, Luxembourg and Holland's example. Seems to be working for them.
-
We were screwed the instant we decided we were better than the rest of the world. Watch us as we collapse under the weight of our own stupidity.
-
Not necessarily. If it turns out the U.S. is screwed doesn't that make the U.K. screwed by proxy? It IS a global economy.
-
A new bill is already being worked on.
-
Let's face facts. The conservative republican government let the market "regulate itself." Allowing greedy realtors and banks to sell houses to people who couldn't afford them. The greedy buyers knew they couldn't afford it, but hey they could get a McMansion and a boat. Then comes the greedy sellers looking to sell their home to make a ton of quick money with no work. We even had TV shows dedicated to "flipping" houses to make a quick buck leaving sub-par homes in the hands of greedy nitwits who didn't care about the condition because they were just looking at renting it out for more than the payment so they could once again get something for nothing. Everywhere there was geed and common sense went out the window. That's why I don't support bailing them out of anything, let another depression hit, maybe then all these greedy @$$-holes will learn a lesson. LET IT ALL BURN.
-
I dont know much about the goverment, but i no 700 billion dollars is alot of money. and the goverment is willing to pick up the tab. hmmmmmm..... so banks can give out more loans and houses. hmmmmmm..... and the financial part of society will be better. question is how long....
Spicy Hot RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC