After reading through a few threads it seems that many believe the bailout is a done deal. It's not. And now that the general outline has been revealed, there are some concerns that this bailout plan may not do anything to alleviate the fundamental problem of insolvency of these banks and institutions.
Paul Krugman says "No Deal" if the plan is to go into effect as outlined.
No deal - Paul Krugman - Op-Ed Columnist - New York Times Blog
I think that more economists will begin to weigh in on this tomorrow and Monday in the Wall Street Journal and the NY Times and others.
Please, folks, read Krugman's column, take a look at the outline of the plan, http://www.nytimes.com/2008/09/21/business/21draftcnd.html?_r=1&ref=business&oref=slogin and decide for yourself whether this bailout is going to do what Paulson claims it will. Then call or email your senator with your opinion.
This is a time in history that no one can afford to stand on the sidelines and say "There's nothing I can do" or "It's too complicated to understand." This is really really important.
Paul Krugman says "No Deal" if the plan is to go into effect as outlined.
No deal - Paul Krugman - Op-Ed Columnist - New York Times Blog
I think that more economists will begin to weigh in on this tomorrow and Monday in the Wall Street Journal and the NY Times and others.
Please, folks, read Krugman's column, take a look at the outline of the plan, http://www.nytimes.com/2008/09/21/business/21draftcnd.html?_r=1&ref=business&oref=slogin and decide for yourself whether this bailout is going to do what Paulson claims it will. Then call or email your senator with your opinion.
This is a time in history that no one can afford to stand on the sidelines and say "There's nothing I can do" or "It's too complicated to understand." This is really really important.