Hey, all you people out there in the land of plenty. Plenty of what? We have the ability to be as productive or as lazy a we wish and then we can blame somebody else if it doesn't go according to plan.
How is it that the $800 billion dollar bailout is given to those that acted irresponsibly? You pay your mortgage, you didn't sign on to more than you can responsibly pay back and you didn't sign the paperwork until you understood what all that financial mumbo jumbo meant. So why are you getting any of this money now that the economy is in a downturn and the lending field is in disarray?
It's because we will be in a worse situation if it isn't propped up by our tax dollars. A;; those failed mortgages aside, we have to create liquidity where there isn't any. A lending institution's primary function is to lend money. If it has none to let borrowers borrow, then the whole economy comes to a standstill. That's far worse than what we have now. So step back and take a look at the bigger picture. Additionally, the money had to be allocated quickly to buoy up the situation and, because of that, it was just a roughed-in maneuver. As time goes by, it gets tweaked and change according to what the effects reveal it to be.
Let's hope it succeeds. It puts new meaning to the expression "work in progress".
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