Quote:
Originally Posted by WiredGuy
From my understanding, it takes money from the ordinary joe (tax payers) and gives that money to the rich (institutional investors). Seems to reward the rich for bad decisions made.
WG
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Actually the rich made many mistakes getting there. Sadly, it will benefit some of them, but if nothing is done, the US economy collapses.
The paper market is dead right now, wich means that if an employer needs a loan to pay the employes/bills, he can't. Lots of people without jobs within a couple weeks, a huge wall street crisis, this could be a depression.
The 700B will not fixnothing longterm thought. It will simply help restore the credit market.
The housing crisis is still there, and there will be tons of people waking up with a house worth less then they bought it for.
The trade deficit is still there too, and not about to change overnight.
The energy crisis is still there, the peak oil has been reached and the people will have to change their lifestyles and develop alternatives.
The wars the US is fighting are not over yet, and it's costing the country a whole lot.