Monday, December 15, 2008
Bank Bailout Should be Reversed
David Kudla, CEO of Mainstay Capital Management, had stated that if the bank bailout had failed there would have been a global catastrophe. But, according to Roger Nightingale, an economist from Pointon York, thinks otherwise. He believes that the banks should pay back their bailout money to help out the other industries. When the government decided to give help to the banks because they were "special" gave the other industries hope that if they were about to fail that the government will bail them out too. Now that the government has declined the auto bailout, they should get the banks to repay their bailout money and help the other industries, while helping out the banks with a cut in the interest rates and no fiscal adjustments.
Subscribe to:
Post Comments (Atom)
3 comments:
To me it seems logical to have the banks pay back the money. The banks got themselves into the situation and should take responsibility for their mistakes.
I think this is a great plan as well. It is unfair to other industries, just because they are smaller, to let them fail while massive banks get bailed out with no repercussions.
Well the White house is looking to allocate some of the $700 Billion given to the banking sector to the auto industry in forms of loans and etc...
Post a Comment