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Post details: The USA Bank Bail-Out

10/04/08

04:54:22 pm, Categories: Juicy News From The World Of Business, Death and Taxes, Financial Products 146 words

The USA Bank Bail-Out

From a Canadian perspective the $700bn bail-out plan aimed at rescuing the US financial system is a very good thing. Here in Ontario it will help to stave off a possible recession due to a slump in our manufacturing sector.

However, I do question how good this will be for the average American taxpayer in the long run? I am no expert, but I do wonder if this bail out will serve as a strong lesson for consumers who spend far beyond their own means, and the credit institutions that have allowed for this situation to happen in the first place. Or not...

Here is what it looks like in a simple graph:

Image Credit: BBC

What do you think? It surely will save jobs, but how fair is this to those who did not get sucked up into spending beyond their means.

Cheers!
Sue
XOX

Permalink • 2 comments

Comments:

Comment from: Rachel [Visitor]

· http://thescienceofmusic.blogspot.com

All the bailout will do is allow the creditors to stay in business long enough to bleed dry their most faithful borrowers.

While the people who have borrowed excessively are at fault for not living within their means, the banks and lenders are the ones who allowed it to happen. They could have (and should have) denied credit to those people.

The average American will get absolutely nothing out of this, except more difficulties in borrowing money for legit reasons.

Sorry if this seems harsh, but that's my two cents worth (and that's about all I have left!).

Permalink 10/06/08 @ 12:55

Comment from: sue [Member]

· http://www.nuttinbutpimp.com/

Rachel -> Thank you for sharing your thoughts on this :)

Permalink 10/06/08 @ 16:01

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