Bailout Tanks Global Stock Markets
October 6th, 2008 | by Matthew Kowal Published in 2008 Presidential Race, Economics, Housing/Credit Crisis, Liberals vs. Conservatives
As any conservative would have told you, the bailout is having the exact opposite of it’s intended effect. While its proponents now say that it will take some time for its benefits to become tangible, many are seeing it for the colossal failure that it is. Before the bailout, if just one CEO of these struggling financial firms declared that his firm does not need that money. They do not need to be bailed out by the government, that it is his job and not the governments to make the firm profitable we would be seeing a very different situation today. Alas the culture on wall street is one of doom, gloom, and desperation. When things go bad they look to Uncle Sam to make it right instead of making it right themselves. It is an awful situation we now find ourselves in, and it looks like things will be getting worse before they will be getting better. I just have one question, what has the democrat’s messiah Lord Barack Obama done to save them from the fires of bad debt? That’s right, he hired the people who ran Freddie Mac and Fannie Mae to be his economic advisers.
