Z
ZippyW
Guest
I know most of us are completely confused about the huge financial crisis the country is facing, but from what I've read in various newspapers, the deadline for the bail out decision is this Sunday when the Asian markets open. From what I've read, the middle class unions are against the bail out (this article in the LA Times):
"Hard hats, transit workers, machinists, teachers and other labor unionists railed against the U.S. government's proposed bailout of Wall Street on Thursday in a protest steps from the New York Stock Exchange.
Several hundred protesters yelled their enthusiastic support as union leaders decried a proposed $700 billion plan aimed at reinvigorating the credit markets by relieving financial institutions of distressed debt."
Apparently, they feel that if the US is going to bail out any group, it should be the middle class home owners who are facing foreclosure.
I'm personally usually against bailing out ANY group, but it seems that someone is going to have to be bailed out to avoid another great depression, from all that I have read, and, like I said above, a decision HAS to be made by Sunday. Of course, presidential politics are playing a HUGE role in this decision, with neither the Republicans OR the Democrats wanting to take the majority in deciding what to do for fear of what would happen if the bail out should fail, and there is a LOT of people saying that the proposed bail out only has like a 50/50 chance of succeeding.
What do you all think? Are you moving your money somewhere? Are you waiting for..... what? When you wake up Monday morning, the decision may be out of your hands.
"Hard hats, transit workers, machinists, teachers and other labor unionists railed against the U.S. government's proposed bailout of Wall Street on Thursday in a protest steps from the New York Stock Exchange.
Several hundred protesters yelled their enthusiastic support as union leaders decried a proposed $700 billion plan aimed at reinvigorating the credit markets by relieving financial institutions of distressed debt."
Apparently, they feel that if the US is going to bail out any group, it should be the middle class home owners who are facing foreclosure.
I'm personally usually against bailing out ANY group, but it seems that someone is going to have to be bailed out to avoid another great depression, from all that I have read, and, like I said above, a decision HAS to be made by Sunday. Of course, presidential politics are playing a HUGE role in this decision, with neither the Republicans OR the Democrats wanting to take the majority in deciding what to do for fear of what would happen if the bail out should fail, and there is a LOT of people saying that the proposed bail out only has like a 50/50 chance of succeeding.
What do you all think? Are you moving your money somewhere? Are you waiting for..... what? When you wake up Monday morning, the decision may be out of your hands.