But if the bailout is attached to further deregulation, it is worse than throwing good money after bad- It is the deregulation that has allowed the financial institutions to make the bad loans in the first place, and without massive reform, the bailout is simply inflating a bubble that is already bursting. It was necessary in order to preserve liquidity, but it was a very very expensive bandaid. Without massive surgery, the paitient is still likely to haemorrhage.
The bailout sucks but it does allow banks to stay solvent. Without that you or I can't buy a house or get a small business loan or even a student loan. It amazes me how people would rather continue to play the partisan blame game without having any understanding of economics.
Agreed. Especially as seen by Bush's so-called bail-out plans. Which really bails out just the corrupt CEO's and companies more than the economy itself.
Bush needs to step back now. Obama and McCain should attend (via teleconference) for at least part of the time, and there should be a more intensive session to begin as soon as McCain or Obama gets elected.-Bush is on his way out. His interests are, and always have been, with the billionaires. The billionaires are the ones that have benefitted from his regime, and the CEOs of the companies that have melted down have benefitted the most. They have walked out from these corporate collapses with multimulti million dollar golden parachutes.
But if the bailout is attached to further deregulation, it is worse than throwing good money after bad- It is the deregulation that has allowed the financial institutions to make the bad loans in the first place, and without massive reform, the bailout is simply inflating a bubble that is already bursting. It was necessary in order to preserve liquidity, but it was a very very expensive bandaid. Without massive surgery, the paitient is still likely to haemorrhage.
The bailout sucks but it does allow banks to stay solvent. Without that you or I can't buy a house or get a small business loan or even a student loan. It amazes me how people would rather continue to play the partisan blame game without having any understanding of economics.
Didnt the original $700 billion plan involve MORE deregulation and MORE tax cuts?
Agreed. Especially as seen by Bush's so-called bail-out plans. Which really bails out just the corrupt CEO's and companies more than the economy itself.
Bush needs to step back now. Obama and McCain should attend (via teleconference) for at least part of the time, and there should be a more intensive session to begin as soon as McCain or Obama gets elected.-Bush is on his way out. His interests are, and always have been, with the billionaires. The billionaires are the ones that have benefitted from his regime, and the CEOs of the companies that have melted down have benefitted the most. They have walked out from these corporate collapses with multimulti million dollar golden parachutes.