The following is a poll on CNNMoney.com. At the present time there have been 83626 participants in the poll.
I understand that the people who read CNNMoney.com are hardly a good representation of the country as a whole. Still, why do so many of these people think the bailout is such a bad idea. Is it because they hate the President (I think for some that may be the only reason)? I don't know why so many people oppose the bailout, but I do know why I voted for no bailout. I'm just starting my career. I have a lot of investing years in front of me and a market correction at the beginning of my earning years would be very good financially for me. That said many of those I care for are nearing the end of their earning years and a correction would not be so beneficial to them.
I just don't think flushing more money into the system is a good idea. I'm not one for nationwide suffering, but if the government bails out the banking institutions for making bad loans and those loans are written off giving all those businesses and individuals a free lunch what keeps them from making the same decisions next year? If it turns out good this time why not next time as well? At some point in time bad financial decisions need to run their course.
1. What's your view about granting taxpayers stock in any company taking part in the proposed $700 billion bailout?
| It's needed to approve the plan | 43% |  |
| The plan should be approved with no conditions | 7% | |
| No bailout in any form | 50% | |
I understand that the people who read CNNMoney.com are hardly a good representation of the country as a whole. Still, why do so many of these people think the bailout is such a bad idea. Is it because they hate the President (I think for some that may be the only reason)? I don't know why so many people oppose the bailout, but I do know why I voted for no bailout. I'm just starting my career. I have a lot of investing years in front of me and a market correction at the beginning of my earning years would be very good financially for me. That said many of those I care for are nearing the end of their earning years and a correction would not be so beneficial to them.
I just don't think flushing more money into the system is a good idea. I'm not one for nationwide suffering, but if the government bails out the banking institutions for making bad loans and those loans are written off giving all those businesses and individuals a free lunch what keeps them from making the same decisions next year? If it turns out good this time why not next time as well? At some point in time bad financial decisions need to run their course.
2 comments:
Jake, I'm glad you made this new blog. I've always had a very difficult times understanding things concerning finances, economics, etc, but I want to understand more and be able to develop personal opinions about such topics.
You've only got 2 posts so far, but I already feel like I understand the current crisis better than I did 15 minutes ago--thank you!
I actually have a question for you, and I hope this doesn't make me sound like an idiot. Sometimes I find myself, Republican as I am, wondering why government health care would be so bad. It makes me sad that there are so many people who can't afford health care, and it seems like it should be something that everyone has, no matter their financial situation. But I don't understand any of the pros and cons of it, or any of the details of how such systems might work. Again, I hope you don't think I'm stupid for that question. I'll be watching your blog for an explanation, if and when you have the time! :-)
Just another bad idea from a bad President. Here's a toast to the Two Term Amendment.
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