Wednesday, September 24, 2008

$700B financial bailout

Just watched the President's speech. I have some thoughts:
  • I predict this bill will become a factor similar to "I didn't vote for war" (which may be one of the reasons Hillary isn't the dem's presidential candidate) for future political campaigns
  • This may encourage other businesses and industries to continue on a downward spiral of poor decisions with the hope of a bailout.
  • We may end up only delaying and worsening the fallout.
  • I like the idea that our government could make money on this, but FICA makes me think otherwise. I wonder if we should force the profit to goto stabilizing FICA and ending it at the same time.
  • I don't know if I can get past the fact that capitalism allows businesses to flourish at the risk of losing everything

The most positive point I can pull from this is to say "thank you" to Wall St, et al., for reminding me so harshly to be fiscally responsible. I have always had the luxury of having enough. I have not had a hardship with this economy, but it has really opened my eyes.

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