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Bailout Dangerously Concentrates Power, Harms Economy

Started by cordblomquist · 9 months ago

The $700 billion financial-system bailout was billed as a miracle cure for the economy, but the stock market dropped dramatically after it was enacted, falling more than 500 points.  In the Washington Post, the liberal journalist Sebastian Mallaby points out that R ... Continue reading »

1 comment

  • Lisa P

    7 months ago

    I think we need more explanations regarding the said plan. We just care about our economic condition. Let us think again, U.S. Secretary Henry Paulson has planned to use the second half of the recent $700 billion financial rescue program to buy up all of those devalued mortgages that flutter in the wind like so much confetti. Instead, that mortgage juice is going to be spent on consumer credit. Payday cash loan is a form of consumer credit, that industry should receive aid as well. Paulson says he wants Americans to have easier access to such traditional forms of consumer credit as car loans, student loans and credit cards, and that these forms of consumer credit have become more costly because of “illiquidity”. “It is creating burden on the Americans and is reducing the number of jobs in our economy,” he says. Indeed it is, but do you see what Paulson is doing here? He’s admitting that he made a mistake with his previous version of the rescue plan! Imagine if America had had a President who was willing to do the same. Perhaps America could pick up the pieces and move forward – or maybe certain problems could have been avoided. Government officials may just have the right idea: they’re planning to use some of the bailout money to encourage private investors to come back to the market. With a strengthened economy backed by investors in the world market, a more stable job market will result, and with a more stable job market, fewer people will have to depend upon payday cash when the chips are down. Click to read more on <a title=" Payday Cash “href=” http://personalmoneystore.com/moneyblog/what-ar... "> Payday Cash
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