Comments | ottawakismet: Bailout

ottawakismet

Bailout

Oct 20, 2008 16:29

Ok, I cant stand to watch this happen and not mention how unbelievably stupid this entire bailout is. This is a colossal mistake, and its playing out like this horribly predictable drama just like the war in Iraq. I can just see how this is going to play out. Okay, the basic problem is that all of these governmental interventions are deepening the ( Read more... )

Comments 3

lingostarr October 21 2008, 05:11:31 UTC

Yeah, Gov't bailout is a bad idea. Think of what we could have done with 700 billion $$!

ottawakismet January 31 2009, 16:57:56 UTC

absolutely... I think of all the possible ways to stimulate the economy, arent there alot of other better things?

There's always a possibility not all of the 700$ billion will be spent -- the point of announcing the 700 billion was to show markets that there was strong government support to improve the economy.

lingostarr January 31 2009, 17:48:38 UTC

Yeah, it hasn't really worked either. Its like putting gas on someone who is on fire, and saying "at least I'm doing something about!"

And almost all of the 700 billion has gone, and it went to banks. There was NO stipulations for the money. So banks spent it on anything and everything they wanted. One bank CEO spent it on refurnishing his office and gave the jr. execs bonuses while the company was having trouble.