Congress, Bush team agree on bailout terms
I don’t know if this $700 billion ‘financial bailout’ would keep the economy from collapsing. I thought that the capitalist market functions without the intervention of government and those failures from the private sector would burn itself out and keep the strongest.
There is no free lunch: I don’t understand how people are allow to stay in their ‘homes‘ when they don’t have the means (or jobs for that matter) to help pay for staying in a ‘house‘ that they don’t truly ‘own’. I am truly surprised that some are able to get a home (and the loan) without showing proof of having a job.
While I believe in helping some honest and hardworking people, I think lending to everyone is very foolish As for the hedge funds, I don’t know how anyone could sell financial instruments they don’t own. And where are these ‘frauds’ going to find buyers to borrow from to cover this ‘act of repurchasing’ in what appears to be counterfeit?
Investors should pull their money out of the stock market after what happened to the Enron scandal. There is no guarantee that putting money into these schemes will be the answer to getting rich fast and quick. They know that the ones who will pay for the very dirt dug as graves will have to be filled by some source, mainly through the taxpayers via the government.
Copyright © 2008 by Fluffy von der Flynn. All rights reserved.
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