Quote:
Originally Posted by beckycat
What the heck are they doing? As if the economy isn't a mess already! The bailout, now we have to pay for it. What good did it do us? The banks are the only one to benefit from it! Give me a break!  |
I disagree with part of your statement, this is not a bailout, it is an investment. When you use the term bailout, you imply that they are getting money for free and the govt is getting nothing in return.
Actually, the govt is buying stock in the banks. So, the govt will own shares that it will sell back to the banks to recoup the money. We might even turn a profit on the investment, but then again we could also lose some money, but it has to be done. This does go against our capitalistic ideals but it is a necessary evil. The govt is caught between, doing what they dont want to do or doing nothing and doing nothing would be far worse for our country.
Warren Buffet, who i put a lot of clout behind as does many other people supports this rescue plan. You can do a google search on this and you will find a lot of good info.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
