Monday, September 29, 2008

And More Good News....

I'm not a "big government" kind of girl. I don't believe that its the government's job to fix everything. Sometimes bad things happen, but that doesn't always mean that government should swoop in with an answer.

The bailout, the ones months ago, to help out people who were facing foreclosure? I wasn't a big fan. I'm going to say something wildy unpopular: in a good number of foreclosures, people took out morgages that they couldn't afford. Now you can argue that the morgages lenders mislead these folks into thinking that they could afford the morgages. But I'm all about personal accountability.

My brother works on Wall Street, and I can only imagine that he's not having the best day. He's even less sympathetic about the morgage crisis than I am.

Regarding today's $700 billion bail out, I'm not sure what to think. Fundamentally, I don't think a bail out is a good idea. The reality is that there are market crashes and sometimes things have to get bad in order to get better. But then again, I'm not a finance person. And many finance people, and ESPECIALLY the media are panicking about the current financial situation, so maybe the bail out isn't a bad idea? I don't think people in this country would be able to cope with a depression, line the one in the 1930s. I mean I just don't think we're equipped for that kind of overall hardship for an extended period as a country.

Watching, waiting.

Labels: ,


Post a Comment

<< Home

Free Blog Counter