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Susan

HOW MANY OF YOU OUT THERE AGREES WITH THE BAILOUT FOR WALL STREET?AND THE KNOCK OUT FOR MAIN STREET?

Ginger:

The bail out is not for Wall Street. The bailout is for our financial system, which in turn fuels our economy, which in turn provides jobs for Main Street.


The banks and financial institutions have already stopped loaning money. Two recent examples are the refusal by City Bank to extend McDonalds credit line and a similar action by GE Finance to extend Sonic's credit line. That's new jobs that will not be created in this period of rising unemployment. I'm sure there are several more refusals that we have not heard of.


Main Street and Wall Street do not exist without each other.

Susan:

I can agree with youon this,as long as it"s okay for me to also disagree.my thoughts on this is,main street,are the ones' that got the shocker here.losing their homes to foreclosurers,and people losing their jobs,,,,,,like a theif took you in the night.and congress,an the president wants to lay this greif of on the taxpayers shoulders whom witch is not at fault.and congress,showed themselves tobe for wall street,an not so mush as for main street,the little people,that did not cause this mess,but be it as it may,the economy must be cleaned-up.and congress should be just as nice to the main street.as they will be to wall street,in this 700billion bailout,and i also feel,the losers in this main street,should also recieve apart of the package deal.both sides needs tobe in on taking care of the promble.well this is my thoughts on this.

Ginger:

Oh, absolutely. Main street is taking a big hit with homes and jobs being lost and the cost of gas and food going straight up. It would be nice if the money could be injected at Main Street. The problem is that it is the financial institutions that are the engine of the economy and they need money to run and they need it fast. An injection at Main Street just would not do it.


The biggest problem is the defaulted mortgages. When the government buys them up, it will slow down foreclosures and allow more opportunities for the home owner to work out more manageable terms. It could actually save a lot of homes.

Dave:

Look what happened as several major banks failed. Nothing!

The idea that banks will stop loaning money and making money is stupid. They exist to make money!

The idea of saving the bad banks is absurd. It's like a physician saying we will provide more blood flow and more nutrients to cancerous growth.

Ginger:

That's pretty close to what Hoover said in 1929 when the banks failed. Do we learn nothing from history???

Frog:

Chi Chi, in case you haven't been paying attention, that's exactly what has happened. The banks aren't loaning money to anyone right now, and businesses are unable or unwilling to loan money to one another.

Dollar brand:

Doesn't matter to me, if they need money to function, I guess they got to do it.................I hope it never happens again...........

Frog:

What the hell is it with this place and everybody posting in all caps?

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