I forgot that our lame duck fearless leader was going to address the nation tonight on why we should hand over $700 billion to his buddies on Wall Street.
I saw that Warren Buffett is investing $5 billion in Goldman Sachs and will receive equity in return. Why should taxpayers settle for less?
This is an open thread for anything related to the bailout or Bush’s speech. How did he look and sound?
1 Comment
bailout
He looked scared. Honestly though I think that the federal government does need to do something. I believe that it should be a loan not a gift. But I know that our business occasionally borrows money for stuff. If banks don’t have any money to loan then many businesses–both small and large will go broke, people will get laid off, they won’t have any money to spend so more businesses will go broke and we will be in a depression.
What we should have done, and in my opinion probably still should do is fix it at the other end as well. Help people who are struggling to make their mortgage payments. Keep them from being foreclosed which will give banks more money so they can loan it to other people.
Mostly though I’m glad I’m not in charge. I don’t understand the economy well enough. I’ve decided I don’t want anyone “just like me” running this country, I want someone smarter.
lorih Thu 25 Sep 10:23 AM