What Economist Are Saying About The Bailout

[Seth]

Seth, I couldn't agree more. Not everyone in this country automatically deserves home ownership. If you don't have the money for ownership, you rent, if you don't have the money for a new car, you get a used or cheaper one. This entitlement things goes way to far.

I would like a $100,000 Dodge Viper and the most expensive fly fishing gear money can buy, but does that mean that some organization or the goverment should make sure I can get my hands on it just because someone else who is better off has it? Absolutely not. This is my simple view of the situation.

I know the Viper is a ridiculous comparison, but my that is my point. I can afford a vehicle, and I have a home, but I don't feel entitled to what others have (that are better off financially than I am). I see things I would like to have all the time, but I the way I see it, I get out of life exactly what I put into it.

Jason

Exactly! I plan on renting for a while until I have that 20% saved up for a home. It might take me a while, but I'm sure I won't have any trouble getting a loan with 20% down either and also since my credit is very good too.

[sparkleminnow]

I would like a $100,000 Dodge Viper and the most expensive fly fishing gear money can buy, but does that mean that some organization or the goverment should make sure I can get my hands on it just because someone else who is better off has it? Absolutely not. This is my simple view of the situation.

I know the Viper is a ridiculous comparison, but my that is my point. I can afford a vehicle, and I have a home, but I don't feel entitled to what others have (that are better off financially than I am). I see things I would like to have all the time, but I the way I see it, I get out of life exactly what I put into it.

Nope..not a ridiculous comparison. A PERFECT comparison! It's exactlly true. If you look at Fanny Mae & Freddie Mac, you will see that comparison. Many Senators like, Maxine Waters, Gregory Meeks, Lacy Clay & Barney Frank, that were essentially saying that low income people DESERVED to have home loans. Ummm...why??? If they can't afford it, they can't afford it. Rent is the correct assessment. If you think about it. FannyM & FreddyM, were TOTALLY uneccessary. If these people were to think that renting is beneath owning a home...what are they doing now that their homes are repossessed??!?!? Let's say it together now..."DUUUUHHH"!!

[troutchaser]

My personal opinion is that we're seeing the consequences of "wealth redistribution." It's a ridiculous notion that has noble intentions, but it just doesn't work in our society.

It's analogous to the comparison of the kid who gets a bicycle as a gift and the kid who works for the money and buys a bicycle for themselves. The bikes might have cost the same amount of money, but we all know which kid values theirs more.

When someone hasn't worked hard and kept their credit in good health by paying their bills, they probably aren't going to do much better with a bigger bill, such as a mortgage. Like you said, sparkleminnow, DUUUUHHH!!

[Don]

Call me crazy but...

I believe the bailout will not work. It will only prolong the inevitable hard times to come. Someone got the 700 billion and it wasn't you or me. Does anyone think major failures of big banks and companies have stopped? The credit crunch has yet to deliver the full economic blow to the economy. Business profit losses and unemployment rate increases have already resulted because of the credit crunch. An 800 point drop in the Dow today reveals lack of confidence in the economy on a global perspective. How long will bargain hunters rebound huge daily drops in the market like that? Does anybody know what has become of the "retired" CEO's and CFO's of Fannie and Freddie? Are they being investigated for criminal actions like those of Enron and Worldcom? What are their occupations today? Just a few questions I keep asking myself.

Don May

[taxidermist]

Its a world wide failing, then I see where all the big shots are walking away will millions.

So if the banks are failing how can they even get paid? It's the samething that happened way back when. those bankers walked away with everyone money.

Seems to me if the bank are broke then the big shots dont get paid either. They should go home broke too.

[bigredbirdfan]

The problem IMHO is the lack of Board Oversight in the big companies. The same thing goes on on city councils, school boards and corporations. The members just fall in line like brain dead dummies and agree with everything management or administration proposes. It is time they wake up or stay the hell off the boards if they don't want to do their job and protect shareholders and oversee management.