Thursday, September 25, 2008
Great Depression II or just politics?
Due to America’s recent unstable and failing economy, President Bush has created the Bailout Plan. Do you think the $700 billion financial industry bailout is the correct answer to better our economy or will it end in more troubles for America? Are we close to the second Great Depression? Is McCain’s action of suspending his campaign a political ploy or is this an indication of how serious the trouble is in the United States?
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5 comments:
I admit, I don't know as much as I could about this financial crisis currently going on, however, I don't feel it's honestly fair, or necessry towards the majority of the people since quite obviously, the majority of America is middle class, and possibly even below that. I realize that we'd be no where as a country if we just ignored people who needed aid, however, we should only help people so much and in certain situations. The banks, these people with all this money were the ones who made the mistakes. Sure, the people buying the homes should have realized that they wouldn't be able to afford the house itself, however, that's also partly the banks responsibility as well. Not to mention, the production, and buying of so many homes was bound to only backfire on them as well.
Any ways, like I said, I don't know enough on the situation, however, I strongly feel it's unfair to us. Why should we suffer for their mistakes? Why should they just get a small warning, and then be paid for it, while we on the other hand get spoon-fed the rest of the punishments?
This is a very serious matter and I believe that the Bailout Plan is a reasonable idea. There are many good, honest, and hard-working people that have lost thousands of dollars. This can truly be the second Great Depression; this may lead to riots and cause a disaster. The United States truly is in serious trouble and McCain probably isn't bluffing with his actions.
-Mario Madrigal
I say it is not a great depression the stock market is going through hard times which will end in this year or next year
I think that the way we are headed, whether or not the money is an issue, we probably are headed to another Great Depression. It might not be as crucial as the first, but it will be just as bad that America fell into it again.
I think the government should have passed the bill that would help the stock market.
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