Posted: Wed Oct 01, 2008 3:14 am Post subject: Bailout or Rescue Plan
So, our President and congress want to bail out the troubled financial industry to the tune of 700 billion dollars, and unfortunately that will probably happen. Sadly, the only people it will benefit is corporate America.
The government is going to buy all the bad loans made by financial institutions, and saddle us, the tax payer with the burden. The bailout will allow the financial institutions to once again loan money to individuals and companies, good or bad.
None of this assistance will go to help the troubled homeowner, who will lose their homes. The best thing that could happen is for the brave members of the House of Representatives to continue stand their ground on the issue and vote no. Let the financial industry shake itself out.
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