Friday, September 26, 2008
Bank Bailout
This weekend, Congress, the President, and the Federal Reserve came up with a $700 billon bailout of the banking/mortgage Industry, with the money coming from you, the taxpayers. What do you think? Good idea, or bad? Personally, I think it's bad. Why should we fix something that was caused by the industry giving mortgages to people who could not afford them. When you take out a mortgage, most of the time the bank you get it from sells it to another company, and makes a profit on it. I don't think we need to be fixing their mistakes. Businesses die all the time, and you dont see the Governement helping them out.
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