To kick things off I would like to go over the government’s proposed $700 Billion Dollar Bailout plan.
I’ve been a little uneasy about rushing into this whole bailout band aide. First of all it is a very complex situation that we have gotten ourselves in, and I really don’t have a lot of faith that our politicians can come up with a plan that will miraculously fix things over a weekend. Come on, give me a break! Unless you hand this thing off to guys like Greenspan and Buffet and let them come up with the savviest way to care of each area of concern then I might feel a little better about it.
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I would like to see a specific detailed plan illustrating what exactly the money is going to, 50 Billion for Part A of the plan, 100 Billion for part B, 10 Billion for part C, and so on. Right now as it stands some savvy rich people will find lawful loop holes to take large portions of that money and run. Making the rich richer and not solving anything, and that is the real reason why the Republicans shot it down, it’s not that they oppose the bailout, the oppose the manner in which the Democrats want to spend the money.
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A bailout will happen, we need it to happen. What is more important is the effectiveness of the bailout. You can’t just throw money at it, it has to do done in the most effective way. Then the perception of Wall Street has to be that it will work otherwise we will continue the down slide. The video below illustrates a little bit of what is going on. Watch it and then let me know what you think about the bailout by the commenting below.
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