Seven-Hundred BILLION Dollars. That's a lot of friggin zeroes. That's how much money American taxpayers may have to pay to keep wall street from plumetting into a bigger mess than it's already in.
The BailOut plan in a nutshell - The Government is going to use taxpayer's money to buy out companys that have made bad investment choices to keep them from going bankrupt. We can't just let the companys go under because of the huge amount of people it would effect.
I read this article a few minutes ago that I wanted to share. It gives a pretty decent explanation on how things are going to work here in the next couple of weeks.
http://www.nytimes.com/2008/09/21/busine...ref=slogin
So the government is pretty much buying some of the biggest companys in America to resell them later to investors. Basically, the government is going to control the laws AND businesses now. The little people of america who aren't rich or made any mistakes are being asked to give their money to people who are rich and have made plenty of mistakes.
Is there any other way to keep these companys from going under? Perhaps putting that money into another stimulus package like before, but that money would give everyone about $3000 instead of the $600 before.
The BailOut plan in a nutshell - The Government is going to use taxpayer's money to buy out companys that have made bad investment choices to keep them from going bankrupt. We can't just let the companys go under because of the huge amount of people it would effect.
I read this article a few minutes ago that I wanted to share. It gives a pretty decent explanation on how things are going to work here in the next couple of weeks.
http://www.nytimes.com/2008/09/21/busine...ref=slogin
So the government is pretty much buying some of the biggest companys in America to resell them later to investors. Basically, the government is going to control the laws AND businesses now. The little people of america who aren't rich or made any mistakes are being asked to give their money to people who are rich and have made plenty of mistakes.
Is there any other way to keep these companys from going under? Perhaps putting that money into another stimulus package like before, but that money would give everyone about $3000 instead of the $600 before.