Tuesday, 23 September 2008 04:22
Have you heard or read about the government's $700 billion bailout
plan yet? The White House is proposing a bailout plan to help struggling financial institutions. (One example of a struggle financial institutions are experiencing would be mortgage foreclosures
In Wikipedia, you'll find the following under Economic Crisis of 2008:
"In 2008, the possibility of an economic crisis was suggested by several important indicators of economic downturn worldwide. These included high oil prices
, which led to both high food prices
(due to a dependence of food production on oil production) and global inflation
; a substantial credit crisis
leading to the bankruptcy of several large and well established investment banks; increased unemployment
; and the possibility of a global recession
A few of the main concerns with the bailout plan include government intervention in private corporations, whether or not the bailout plan will work in the end, and is it right to use taxpayers' money on this plan. However, most sides agree something has to be done.
What are your thoughts on the bailout plan?
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