Revolution.

The epitome of a savage grace.

The Bailout and the Continue fall of the Stock Market

leave a comment »

The stock market crashed about 2 weeks ago now.

Then the bailout didn’t pass in the House and the stock market crashed again.

And then the bailout did pass a week later, causing once again, the stock market to crash.

 

First, I’m against the bailout. I consider myself a Democrat, but when it comes to certain economic decisions, I tend to be fairly conservative. This $700 billion bailout is not really $700 billion. That is just a number that someone pulled out of their asses. The ‘real’ bailout could easily go over $1 trillion. And that enormous amount of money, money that we do not have, is going to be paid by me and you, the taxpayers, and our children and their children and so on and so forth. This bailout is merely a political ploy. There is no way in hell that it would have been passed if it wasn’t an election year.

 

We have bankruptcy for a reason and it is in cases like these where bankruptcy is not a bad option. The reason that our economy right now is doing so poorly is because of these investors, Fannie Mae and Freddie Mac specifically. The government made a deal with Fannie and Freddie that said hey, we’ll back you make al the loans you want, so they did. They gave loans to absolutely everyone and anyone, regardless of whether or not they could pay them off. So these corrupt CEO’s drilled our country into an economic pit, and we bail them out? It was just reported a few days ago that the CEO’s of AIG, a company that was bailed out with $300 billion, went on a $400,000 vacation.

 

So we are bailing out these corrupt owners instead of pushing them out with bankruptcy?

Sound’s like a decision only the U.S government could make.

Written by revolutionjg

October 11, 2008 at 12:00 pm

Posted in Economy

Leave a Reply