Rescue Plan!
Will this rescue plan be enough to save our economy? That’s the million-dollar question that is being asked by just about everyone. I really don’t know if this will be the right move. There are a lot of people on both sides of this rescue plan. A lot of people feel it will help make of economy get back on track. And on the other side of the coin a lot of people think it will fail. I will say with the Dow Jones opening down 200 points it looks like is very will could fail. The Dow’s rough start could also be because of the sale of Wachovia to Citigroup Inc. So over the next few days will come the real test of this plan. I do sure hope it works out in the end. I really don’t want to go through what mine grandparents went through with the great depression. I only want what’s best for my family and America.
American Leaders!
I first need to state that I’m an American and would die to defend this great country I call home. But I can no longer stand these boneheads running this country. We have Congress slashing and farting around with this very needed bail out bill. Now I don’t agree with this bail out bill, but I do feel that we need it for the greater good. But the crooks in Congress seem to think they know everything. Most of them, the elected officials in Congress have trouble managing their own money. And now where asking them to understand and vote on something they have no clue about. I don’t even think President Bush understands fully what’s going on. That is why we need to leave this up to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. These two men have more knowledge then anyone else in the world on how our economy works. So lets leave it up to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke to make the call on this one. After all, what do either one of these men have to gain. Neither one of them likes politics and can really careless what any political party has to say about them.
Stocks Start Up!
The Dow and other markets will start high today, but will it last. Only time will tell if today on Wall Street will end up. The reason for the big start is because there is a plan for central banks to inject markets with $180 billion. This is been done to stop a crash and get investors back into the mood. The Fed added another $55 billion in loans overnight to help the financial markets. I will say those safe assets such as gold and Treasury bills are doing very well. These safe assets always do well when the markets are down. Gold is gold, and that is one of the safest bets around. There isn’t a country that gold doesn’t trade badly in, everyone understands gold. Anyway, I sure hope that this money going into the financial system sparks things. We really need a few great days to get back on track. This country can’t afford another big sell off day.
Taxpayers New Owners!
America taxpayers are now the proud owners of one of the biggest insure company’s in the world, AIG. We the taxpayers of America just put up $85 billion’s in loans to take 79.9 percent ownership into a company that’s getting ready to fail. Now lets think about this for a minute, would you put your own money into a company that was going to fill for chapter 11 in one day? I know I would have avoided it like a bad habit. Now I understand that the government had to do what it did. And if they didn’t we could be worst off than we already are. I would like to know how things like this happen. How could a company that is so big be in so much debt? Here’s what needs to happen, fire all top officers, which I did hear they would be replacing AIG’s chief executive, Robert Willumstad. They shouldn’t stop there, let them all go and start fresh. That’s my take on AIG, big losers.
