the financial bailout is not helping the people?

I was asked the other day about the financial bailout and I recall someone stating if they were to give each each citizen 1 million $ with stipulations to cover their mortgage pay off credit cards and placed into a monitored trust account with minimum spending limits. this could work as our retirement account- trustee allowing no vast spending meaning limits per year with a must of having employment and yes other stipulation we would spend less than half what they are planning on spending to bail out the financial wall street companies who after all are not going to be saving any ones mortgage. It appears that maybe we really need to take back any authority given our senators and congressmen specifically telling them how to vote NOT voting them in and finding they follow their own hearts. I cant see the election changing anything other than the person in charge. we need to change what they are allowed to do- this country need to be run/controlled by the people...more voting, less senate and congress control...What do you think...sorry about the rambling

Update:

Come on people, what do you really think... If you were given a million $ to pay off mortgage and CC's and knew the balance would be your retirement..Would you be able to handle this..Dont count on SSI

1 Answer

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  • Bert K
    Lv 7
    1 decade ago
    Best Answer

    The Bailout is more destructive than not.

    The core problem is we would all like to have everything and anything we want, and the government has found it useful in getting votes to encourage us to borrow to get it. Houses for groups that can't pay on a mortgage, let alone reasonable down payments, starting businesses that they haven't justified by market research and that they won't work to make successful. The list goes on.

    There comes a time when we either bite the bullet and let the market work itself out with government help.

    Or there will come a time when we will all find ourselves eating the gun.

    I'd rather bite the bullet now.

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