Comments on: Emergency Economic Stabilization Act of 2008: What it does, what it will cost, and whether it will work

By: ADB

ADB — Sat, 04 Oct 2008 19:00:58 +0000

Your statement that “many” state and local governments over-consume is misleading. While they do borrow and carry debt, most states, cities and counties are required by law to have a balanced budget. That is why libraries close, park hours are shortened, etc. during budget crises. Unlike the federal government, locals can’t borrow against our kids’ taxes to pay for current “needs.”

By: Felix Mackenzie

Felix Mackenzie — Thu, 02 Oct 2008 13:20:32 +0000

The bailout plan known as “Emergency Economic Stabilization Act of 2008″ was approved on Wednesday 01/10/2008 by senate and this created a precondition for the House of Representatives to approve the plan.
There are controversial opinions about this plan, but the reality if that either government follows liberal way, does nothing and let’s many people lose jobs and their saving, or purchases from troubled financial institutions nonperforming loans and creates a precondition for moral hazard that may take place in the future.

By: Christine

Christine — Wed, 01 Oct 2008 18:31:13 +0000

The failure of the bailout is good news according to Jeffrey Miron, a Harvard professor in economics. His opinions are echoed by top economists in the country. Please take a moment to read this. It is concise and very easy to understand. The free market will work its way out if allowed to do so.

http://www.lewrockwell.com/blog/lewrw/archives/023223.html

By: ABCs of Investing

ABCs of Investing — Mon, 29 Sep 2008 11:12:03 +0000

With all due respect to Buffett, why are they asking his opinion on this situation? He’s a major investor and insurance is one of his concentrations – if other insurance companies invested anything like AIG did then of course he’s going to be in favor of the bailout because it will help his personal situation.

They should have called some professors of economics who aren’t as conflicted (or me!).