After initially disapproving the financial bailout plan submitted by President Bush and the US government, the restructured one (or was it really?) was approved by the House of Representatives earlier this week. Before anything else some questions:
1. Was this a Wise Move?
2. Are Borrowers off the Hook?
3. Has Capitalism Changed?
4. How will this impact the economy since anyone can be saved from drowning debt?
You would think that this financial bailout plan the second time around would be approved already even before it was announced. Why? Well based on the reactions of the world on the initial rejection, Congress was able to get a glimpse of what would happen and they did see it as the world reacted. Was this the reason for approving the second bill?
Apparently many would disagree that such had a bearing. But you cannot discount the possibility that they too are panicking. With your country nearing the brink of possible disaster, who would not be surprised if your arm were twisted into approving the bill for your homeland’s sake?
Now to most, these accusations may be petty. But they are realistic in nature. The cause for alarm that your country is in is apparently a given and if all of it were placed in your hands, the last thing you would want to be is a goat in all of it.
Borrowers are perhaps smiling widely these days. It seems that they can get away with it even if they were not able to settle. Also, companies can look forward to being saved from existence. We have the people in power in politics to thank for all of it!