Bailout or No Bailout?
I get the sense that opinions on any kind of bailout, or rescue plan, of Wall Street run the gamit around here, whether you are a Republican or Democrat, whether you are a liberal, moderate or conservative. It is much like the immigration issue, where there really was never any unified Democratic v. Republican stance on the issue. Both parties were, and are, divided against each other.
The American people seem to think something has to be done, but they hate the Bush/Paulson plan:
“Do you think the government should use taxpayers’ dollars to rescue ailing private financial firms whose collapse could have adverse effects on the economy and market, or is it not the government’s responsibility to bail out private companies with taxpayers’ dollars?”
Use Taxpayer Dollars 31%–55% Not Government’s Responsibility
“As you may know, the government is potentially investing billions to try and keep financial institutions and markets secure. Do you think this is the right thing or the wrong thing for the government to be doing?”
Right Thing 57%–30% Wrong ThingAs you may know, the Bush administration has proposed a plan that would allow the Treasury Department to buy and re-sell up to $700 billion of distressed assets from financial companies. What would you like to see Congress do — [ROTATED: pass a plan similar to what the Bush administration has proposed, take action but pass something different from what the Bush administration has proposed, (or) not take any action on this matter]?
Pass Bush Plan – 22%
Pass Different Plan – 56%
Take No Action – 11%
I want everyone who reads and contributes to let me know their thoughts on a proposed bailout.
Here are my thoughts below:
