Financial Bailout Plan No Good
by Joe from Ohio
Regarding Financial Bailout Plan No Good: In my opinion the mortgage bailout has its pros and cons. On one hand, the financial bailout is a good thing because it gives lending companies the money they need to keep business going, allowing people to keep their homes who can afford to.
But on the other hand, the bailout plan is an easy fix that is not going to fix things in the long run. Giving all of this money to the mortgage agencies to help them out is not going to permanently fix things because if the companies can not make their business profit now, how are they going to when they owe all of this money?
The government is hoping to acquire all of these mortgages in order to sell them off and make a profit. What is going to happen when the companies need more and more money, and the government doesn't have it to give? Giving them the money is a bad choice that is not going to fix any thing.
Capitalism is based on companies starting up and going out of business which happens every single day. If a mom and pop store goes out of business because they can't pay their bills, do you see the government stepping in to bail them out? No, you don't. I do realize that these financial companies hold the fate of a lot of people but that doesn't make it fair to give them money when they need it.
--Joe from Ohio
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