Hi skagandboneman,
One of the most interesting alternatives in the bail out plan came from a Latin American immigrant of the US. His idea was to instead of buying all the rotten laons for above price cost, use the same money to giva out as a rebate so that te people who are behind in their payments can get up to date.
That way the big companies won't make a profit from these bad debts.
Last night JP Morgan made an offer for WAMU knowing it will profit from the bad debts, as the goverment bail out plan that was offered allows the government to buy these bad debts at over the top prices.
Do you see how the big boys are already trying to scam the American people? Because it will be YOU footing the bill to put money into JPs' pocket.
Best regards,
Steve
Quote:
Originally Posted by skagandboneman
Hi, as an 18 year old with a very rudimentary understanding of economics and politics, i am struggling to grasp the conflicting viewpoints on the bailout plan.
basically, my main questions are: the main opposition to the plan seems to center on the carte blanche it would grant paulson to intervene in the economy, but in the current circumstances, could such powers not be necessary? and besides the bailout plan, are there any feasible alternative plans that can be pursued?
i hope someone could help explain these to me
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