Friday, October 3, 2008

Bail out is passed

I admit that I don't have a full understanding of the current crises, and I don't know what's in this bill. I don't even have a position on if we should have a bail out or not.

The upside: With the current situation of banks, if there is no bail out (or fresh money), lending could freeze and a lot of people could be out of their jobs.

The downside: The rich men who screwed up (who are supposed to be knocked out in a free market) are now in charge again and possibly got richer. The entire country could slip further into socialism.


Anonymous said...

idk if it socialism.
all i know is.
people who "epic fail" at their jobs get a pat on their back for failing.
Everyone else, is left to carry the debt via taxes.
I hate how government is run. I hate G.Bush and his policies.


ps. interesting blog you have going.

Wow Panda said...

Thanks samsung. I think the current state is the fault on 2 parts:
1. Bush went into Iraq (bad bad decision)

2. Demos prompt banks to borrow money to unqualified borrowers with various regulations, Fanny and Fredie for example.