My opinion:
I fear the 700 billion dollar proposal to buy up bad debt of wall street companies is a bad idea as it is presently constructed. They should not do this. They should protect bank deposits, and increase liquidity. Once this monster is created, it will never go away. Why should taxpayers pay for investment bank's bad decisions? Well, I am at least sympathetic to them because it was bad lawmaking that encouraged their bad banking practices.
Oh, Fannie Mae and Freddy Mac should have never been created as they were in the first place. They need to break up these companies and make them private, not governmental and not the quasi public institutions they were. If anyone has more perspective on all this, please fill me in.
See here:
Newt's response
1 comment:
I agree with you. I think that the government should put some of that $ into people who really need the $ due to hardships they are going through, If the government did that then maybe just maybe those of us who actually worked hard to get where we are wouldn't be losing it faster than we obtained it. Those are just some of my thoughts. I'm A ED/Ortho/CDA looking at hardtimes and looking for employment to stay afloat.
Shannon S.
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