Wednesday, October 1, 2008

Bailout

I can't decide if I support the bailout. I strongly have the republican belief that risk is part of business therefore the more you take, the more you deserve to fail. I really believe it is not our government's job to give handouts for banks greedy mistakes and doing so will set a precedent that they can continue to operate under the same broken guidelines. I believe in justice and a lot of the greedy CEOs are getting what they deserve for their almost illegal practices. I've said before how hard I had to work to get them to agree to giving me a 30yr fixed instead of some "ninja loan." On the other hand, their mistakes do "trickle down" to the workers and many Americans will be laid off because of it. There is talk of the next great depression and this is a good way to at least extend the time before that happens. Right now I say lets go ahead and deal with our mistakes now so we can fix them for in the future but I'm ready to change my opinion if some one can show me evidence otherwise.

It seems both McCain and Obama are supporting the $700 Billion dollar bailout which makes me wonder how important it is for this to happen. Reuters has been keeping me up to date around this as it all unfolds. I can't say I'm not nervous about our prospect.

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