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Do you think the possible bank bailout in the US is a good thing for most Americans Why or why not?
Asked by infogirl -
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America is welcome here in Australia. Please come to Oz and take advantage of anything we have to offer during this crisis, we are not so badly affected.You have offered the opportunities with the world with an invite to live the dream. This is the time to seek the same friendship you offer to others, you are not alone.
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Sorry I what I meant to say is that, no the bail out will not help, else the 700 billion dollars would have been approved - Also I included Australia as an opportunity because and even though we(Australia) lost 63 billion dollars we also gained 100 or so points over all during the next days after the fall from investors buying cheap stocks that became available. American's can see our situation and take advantage of it early before anyone else does, any investor would have seen the advantage - but I can only say, if you don't see any - what is 1 trillion dollars to America is only a few billion to us in Australia - but still we are not as affected by the fall in the stock market. . Instead of deleting my answer, marked as 'not an answer' I only wanted to offer a source of hope with opportunity for you before you think there is no hope.
Yes it is approved. The 700 Billion dollar bailout was passed - Latest news Link provided.
http://news.yahoo.com/s/ap/financial_meltdown
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The "bailout" is absolutely essential for the average American.
First, credit markets are not operating. This means that small and medium sized business cannot obtain funds to continue day-to-day operations. Without businesses being able to access credit, more jobs will be lost, more businesses will go bankrupt and the overall economic situation will continue to get worse.
Second, Americans got themselves into this, they need to get themselves out. Is it be better for the Saudi's and the Chinese to keep America afloat or for America to take care of its own problems?
Third, the average American thinks they are entitled to live well past their means.. This is over and its time to pay the piper.
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Well, these are the top three recommended posts on BBC have your say which I also agree with:
Forty million Americans can't afford health insurance; the minimum wage hasn't been raised in 10 years and the country has one of the worst poverty levels in the developed world. Yet as soon as the rich squeal $700 billion is magically found. America needs a second revolution.
colin craig, Stratford
Recommended by 594 people
NO!
They are attempting to STEAL from taxpayers to cover the elite's bad debt. This is a swindle, a sham, and if passed the final nail in America's coffin.
Many, many Americans are outraged and upset.This is theft, and if the BBC had any integrity left, they would use all those skills they were taught in journalism school to uncover the deeper story lurking within.
Eli, US
Recommended by 394 people
The US bail-out is doomed to failure unless there are strict rules put in place.
A US woman banker has been paid $40+ million bonuses while 20,000 have lost jobs in the business.
The money NEEDS to be protected from the likes of George Soros who speculate & force & manipulate circumstances so they can gain. He made over $1billion from UK taxpayers by selling the ? & forcing it down & then profitting.
$700 billion unprotected, the sharks/hyenas etc are just waiting to grab a piece of it
Iain Connochie
Recommended by 355 people
http://newsforums.bbc.co.uk/nol/thread.jspa?sortBy=2&forumID=5388&edition=2&ttl=20080930082705&#paginator
yes it will help sinking people who need some stimulation.