Bailout/rescue 2.0 passes both houses; Bush signs it. They hurry if they have to

Choosing the lesser of two evils fucking sucks, but it's not the first time and won't be the last.

 

Bottom line is major reform is necessary, both economically and in congress. Until enough people get on that boat its business as usual.

 

Re: Bailout/rescue 2.0 passes both houses; Bush signs it. They hurry if they hav

I think we can all agree on that.

Problem is, now is not the time to take that stand. You don't fix the boat when you're drowning. You have to get back into the boat first and get to shore first. Then, you can work on fixing it.

 

Re: Bailout/rescue 2.0 passes both houses; Bush signs it. They hurry if they hav

And sometimes you have to get out the bucket and start bailing just to make it to shore ... else you find yourself rowing a submarine.

 

More importantly, this money, hopefully, will jump start the credit market. As is, businesses large and small were finding they couldn't get loans even if they had perfect credit histories. So if an otherwise healthy company needed a loan to keep it afloat for even an insanely short period, it couldn't get it. So a company that shouldn't fail would. And it would cost people jobs and invested money and that would make the problem snowball.
I'm sure that's dumbing it down a bit, but still that's the basic problem as I understand it. And unless everyone was going to get together, combine their $2,000 and start loaning it out, giving that money to the American people wouldn't really solve the problem.

 

http://www.fool.com/investing/general/2008/10/02/everything-you-want-to-know-about-the-700-billion-.aspx