I am far from understanding where we are, how we got here and what we should do about the Wall St. mess. On one hand if the Govt. can buy up these failing companies for pennies on the dollar and gain equity, turn them around and possibly make some money - then it sounds like a plan. On the other hand I heard this in answer to the question - "Where will the $700 billion come from? Answer - the feds will just print more money." That doesn't seem like a good idea especially when apparently the folks holding the bag on a bunch of bad loans are actually China and some other foreign countries who have been investing in our economy. If I put my money in risky investments and they do poorly, woe is me. But I guess if you are big enough and you do the same ... Sort of like heads you win and tails you win.
And I found this in poking around on the web today:
BONO ON THE BAILOUT.
"It's extraordinary to me that the United States can find $700 billion to save Wall Street and the entire G8 can't find $25 billion dollars to save 25,000 children who die every day from preventable diseases."
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i agree. it's ridiculous. nobody's going to bail me out if i default on a loan, and i don't think it's fair!
but what do i know...
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