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Given my limited knowledge of detial of american economy ( except ofcourse high debt, low energy efficiency,pocket of poverty), if one is trying to maximize impact of $700 billion bailout on economy , one must remember that poorer less well off sections would have higher MPC and certain areas have underdeveloped infrastructure. so spend most of the money on poorer areas where income impact will be higher. ( if part of 700 billion could win US hosting of a future olympics- go for it- it can boost the economy wide growth rate.a part of the money must be used to encourage industry to make energy efficient investments and another part to boost renewable energy generation along lines suggested by al gore. Finally 700 biilion must not be given to banks entirely ( but in stages perhaps) because for a few years era og overlending will be replaced by underlending by FIs and hence case for public works in US
700 billion!!!! I would use this money to help people in the world. I would give them the opportunity to improve their conditions of life e
How much did all those bonuses come to, anywhere near the trillion pounds needed?
Perhaps the government should pay back all the massive taxes they took from banks and pensions?
~Better still, stop subsidising mortgages offsetting interest payments against taxes, let alone favouring debt over equity in tax treatment.
~What about suing Alan Greenspan and the Asian economies for incompetence?
Surely they have already spent it and that is why we are in such a mess!
Nous savons que l 'homme propose Dieu dispose !! Avec dieu tout est possible ,je ne vois pas notre economie tout le monde disait se fini!!! No pour moi ca va change bientot ! Je confiance a notre president .Merci.
onpeux dire que dans quelque jours
tout passera bien . On confiance de notre president
merci je connais bien que Dieu est pour nous et tous.
greed is a gripping thing, and all banks are greedy, so to the people who work the stock exchange, yet, it is the tax payer who picks up the bill, once again. I say, all these bonuses that have been handed out, should be re-called, and put back into the system. And any investors in the future should have to deal in periods, so that these fast profits would be in the system for longer, with the risk higher. banks should 100% guarantee that people's savings are save.
I agree with the plan for the government to give each adult US citizen (over 18yrs) $400,000, taxing every one of those persons 30%, and letting us decide how we want to spend our money.
given that amount of money the best thing is to give it to Obama campaign so that he wins the US elections and solve this tragic which has been caused by the us republicans . The problem caused by someone who spends his entire life at War and now want to try and solve the problem that he himself and his party have created .
I wouldn't have voted for the bailout. Politicians should have passed a cleaner bill. Instead they couldn't resist "porking" up the bill. I certainly wouldn't bail out those who took out a mortgage that they clearly knew or should have known they couldn't afford. Stupidity shouldn't be rewarded. Too many people have forgotten how to take personal responsibility.
Thay made there nest
But why with my money
Rather than give the money to the people who have created the crisis, forcibly buy the mortgages at a discount.
This should mean that the companies stay viable, without rewarding them for their incompetence. The homes could be rented to their occupants at a price that they can manage, over the term of their lives.
At the end of the day, the purpose of Government is to protect their citizens from the depredations of domestic and foreign powers. If the Government feels ideologically unhappy about being accountable for the direct control of organisations (e.g. they are rampant capitalists), then they can create a quango to adminster the scheme, until they can find a private company which has some integrity.
I think the government should follow China's example and execute a few of these fat cats! That should make the rest think twice and be content with 2 million instead of 350 million! There are no real penalties for their reckless greed....instead there are blank checks. No surprise there as the politicos are in bed with all these bastards anyway!! REVOLUTION anyone?
Since a majority of the bad loans involved fraud, I think they should pay off the loans and give the people the Deed to their house back. NONE of the money should be given to the banks or their CEOs.
why should the banks be bailed out, stop the fat cats getting fatter, give the help to the ordinary american who may lose their home..by the way, i'm english.in a council property. which is falling apart at the seams, but i still say help the people with their morgages until they can catch up with their payments. i also think it is ludicrous that people would lose their homes and end up possibly claiming from the state, from benefits to housing,adding to the state of homelessness, instead of keeping people in their homes, maybe getting a lower payment for their mortgate is better than nothing at all. by the way why do the fat cats get the pay they do,their obviously not doing their job properly if at all. i feel that if they end up in a mess, they should bail out the banks personally, out of their fat cat wages, not the on the street american, who is just trying to live from day to day.
I would save the homeowners that loss their houses and let them pay back the government as the mortgage holders
An improvement in France24's usual inadeqaute assessment of the financial crisis - more expert opinion please!
But why is nobody talking about the decision to expand the US Statutary Debt Limit to $11,315,000,000,000?
Why hasnt anyone mentioned the usual pork-barrel earmarks attached to the Bill - like tax breaks for wooden arrows made for children & other nonsense? Where is all this extra money to come from? What effect will this have on the $ & interest rates? Come on France 24 get with the program!
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IN THE FRENCH PAPERS