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2 Replies Last post: Oct 16, 2008 11:58 AM by Lighthouse24

Federal Government bailout

Oct 16, 2008 10:46 AM

Click to view Tori's profile Host Tori 80 posts since
Aug 15, 2008
Do you believe the federal government is making the right decision in bailing out financial firms on Wall Street?

~Tori
Tags: federal_bailout, federal_aid, wall_street, financial_bailout, financial_firm, financial_firms, economy, election, small_business Report as inappropriate
Click to view DomainDiva's profile Founders DomainDiva 1,763 posts since
Oct 10, 2007
1. Re: Federal Government bailout Oct 16, 2008 11:57 AM

What else would they have done? Someone had to step in to prevent an even worse scenario than we have now.

The problem I have with the bailout is that too many 'earmarks and attachments' were included. Paulson came to Congress with 3 pages....congress added 397 more.

I also have a problem that one of Paulsons' cronies at Goldman Sachs was named to oversee the bailout. Bill Gross of Pimco offered to do it for free. That would have been my choice. But I seriously doubt that the accountability that Gross would have demanded is wanted.
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Click to view Lighthouse24's profile Founders Lighthouse24 2,402 posts since
Oct 10, 2007
2. Re: Federal Government bailout Oct 16, 2008 11:58 AM
It should have never gotten to that point -- but since it did, action was necessary. Other plans and alternatives for dealing with the crisis were discussed, and I liked of couple of those better than the one that's currently being executed -- but it's usually that way with complex issues (i.e., a decision doesn't have to be the "best" decision in order to lead to a viable solution).
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