Doomed Financial Bailout Rescue

by Bruce Bourdeau
(New York City, NY, USA)

The rescue of the Financial Bailout Plan is doomed to fail because of the lack of confidence the American people now have in our financial institutions. Not only have American people lost faith in their financial institutions but also oversea investors have lost faith in America's banking system.

The only thing that will save the American financial system now is a complete overhaul with tighter regulation. Too long have the financial institutions taken too many unnecessary risks with our money, just to make fat commissions for themselves.

Foreign investors and foreign institutions will now look to more reliable countries to invest in, Canada and Southeast Asia for instance. Those countries did not allow their financial institutions to take unnecessary risk without some type of government control to protect the average investor.

The free market economy is a great idea and still the best system for economic growth but it needs controls to prevent economic collapse and recession that seems to occur every twenty years or so.

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