Tuesday, September 23, 2008

Questions and Answers on the Bailout Plan

In my quest to learn more about the $700 billion bailout plan Congress and the President are currently debating, I've found another useful article to pass on.

The article is not anywhere near all its title claims it to be ("The Wall Street Bailout Plan, Explained"), but if you're interested in a perspective on any of the following questions, you can get one here.

Q. The bailout program being negotiated by the Bush administration and Congressional leaders calls for the government to spend up to $700 billion to buy distressed mortgages. How did the politicians come up with that number, and could it go higher?

Q. Who, really, is going to come up with the $700 billion?

Q. So is it fair to say that Americans who are neither rich nor reckless are being asked to rescue people who are? What is in this package for responsible homeowners of modest means who might be forced out of their homes, perhaps for reasons beyond their control?

Q. How is it that the administration and Congress, which have not tried to find huge amounts of money to, say, improve the nation’s health insurance system or repair bridges and tunnels, can now be ready to come up with $700 billion to rescue the financial system? And is it realistic to think that the parties can reach agreement and get legislation passed in a hurry?

No comments: