Bailout

Before the first time bailout was voted, I talked to some people about it. Regardless of what party people supported, everyone I talked to disagreed with the idea.

When the stock market deeply dropped in response to the failed bailout, I sadly knew that the second vote will be passed. However, the stock market will still fall, I predicted. Today, it dropped below 10,000. What a disaster.

In fact, the stock market performance does not affect me much at all because I have very little money in the market. However, I agree the current stock market performance is a “disaster” because it could cause people to panic. It also could create a chain reaction, and finally lead to a great recession!

Government understands the consequence. So, here is the plan-- the worst plan ever. Although I am not scared of the stock market falling, the bailout upset me. The government took my tax money to save the millionaire CEOs, who are not responsible for the consequence from their poor decision, and walk away from the mess they created. How is it fair?

This economic system has a very serious problem already. To save the economic system, government must look at fundamental issues – fair regulations and effective oversight.
I understand that the issues are not easy to solve. However, government must fix the problem from the bottom of the issues. Otherwise, regardless of how much money is put in for bailout, it will fail.