Why is the government so quick to bailout large finance companies but let the middle and lower class go broke. Unemployment rates are up, bankruptcy is up, and people are defaulting on mortgages. Meanwhile, overpaid CEO's are running their companies into te ground and US tax-dollars bail them out?? and they don't have to repay??? If Mr. and Mrs. Smith can't pay their bills and take a huge loss when they sell their house they claim bankruptcy. Period. They move their family into a 1 bedroom apartment until they can get bak on their feet, if they can! Why not offer a bailout to the rest of us? Our population is just over 300,000,000 counting every man, woman and child. About 220,000,000 of those are adults over the age of 18. Dividing 220 million adults into $85 billon that equals $386,000. My plan is to give $386,000 to every person over 18. Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Every individual 18 has to pay $115,800.00 in taxes. That sends $25,476,000,000 right back to Uncle Sam. But it means that every adult 18 has $269,800 in their pocket. A husband and wife has $539,600. What would you do with $269,800 to $539,600 in your family? Pay off your mortgage - housing crisis solved. Repay college loans, put away money for college, save it in a bank, entrepreneurship, buy a new car, invest in the market. Capital drives growth! If we're going to re-distribute wealth let's really do it...instead of trickling out a pathetic $1000.00 stimulus checks. If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18! As for AIG - That's the shareholders problems, sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up. Here's my rationale. We deserve it and AIG doesn't. Sure it's a crazy idea that can "never work." But it would be a REAL stimulus to the economy!
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All should contact their US Senator and ask them to vote against any form of bailout.
Every economist says the bailout is a bad idea.
You can get your Senator's contact information by googling the Senator's name followed by the words "US Senate"
Example: "Ben Cardin US Senate"
The sky will not fall if there is no bailout.
I agree - bailing out the banks who got themselves into this mess is a bad idea.
Giving free money to bankers to nationalize/socialize the banking system was/is a bad idea and has to continue to be stopped. Email your congressperson.
Stocks down 777 yesterday, up 393 so far today--I don't think anybody really lost anything.
Interest rates have been too low and credit too easy--no wonder people aren't saving anymore.
I'll be pleased to see interest rates go up and to see those idiots who lent 100 percent on homes to go broke.
i dont know why this hasnt happened yet. i would stake everything i own and everything i could get in credit on a bet that this would pass a referendum
There is a small problem with your math. $85 billion divided by 220 million is NOT 386,000. It's only $386. This is assuming you are using the American definition of billion, which equals 1,000,000,000. The British billion equals 1,000,000,000,000. Of course, the $85 billion bailout is in American billions.
This is what I would like to know?Where is all this money to buy these comapanys out.I can tell you where.Out of medicare,Social Security.Come on we had to barrow billions of dollars from other countrys to wage war on Iraq.Now we are bailing companys out.Let them go broke.I am.Its terrable that they can bail these guys out and the little people like me cant even get a loan to pay off my bills.We live within our means.When the gas went up to $4 a gallon who was hurting?Not those CEOs we where the little people.The ones that was takeing food from there kids mouths so they could buy gas to get to work.Well im done rattling now.Thank you