America is worried about the finicial situation on Wall Street and how this will affect most Americans. After watching this afternoon's show in 2 paragraphs outline the Administrations goals with this new bill and tell me at least 3 main steps this bill needs to pass before it becomes effective for our country.
8 comments:
Henry Paulson's goals in the bill is to prevent foreclosure and stabalizing the system. They want the bill to be approved soon. They want the bill to protect the economy, the American jobs, and bank accounts. They believe that the economy is bad because of bad lending practices. They want to protect credit cards, 401, pension funds and student loans.The three main steps to getting the bill passed is first getting it through the House of Representatives, then the Senate, and get it onto the Presidents desk.
I think that this bill will be good for the economy and help alot of the American people out.
I agree with Henry Paulson that we need to stabalize the economy first and pass the Bill quickly and smoothly. I think that the ideas on this bill can help protect the fopreclosures on homes and protect many homes. So I am all for this Bill being passed.
The main goal of this new bill is for the government to buy illiquid assets in big size from institutions. These assets that Paulson is referring to are clogging the system. Paulson believes that once these assets are purchased, then the market will work. Obviously, another main goal of this bill is to protect the economy. In doing so, this bill, according to Paulson, will protect the system, protect the American taxpayers.
The three main steps of this new bill begins with obviously getting more money from the American taxpayers, to basically bail the United States out. Once the necessary funds are gathered, the bill will next stabilize the market. Last, the government will ask themselves why the United States has reached this low, identify what caused this crisis, and make sure it doesn’t happen again. According to Paulson, the risks of doing nothing are companies will be unable to borrow money, small banks will be affected, loans to businesses and farmers will be affected, jobs, and retirement will also be affected.
bush proposed a bill out for the treasurey department to buy 700 billion dollars in morgage related property. This bill would be open to foregin's as long as they have employees of us or any connection 2 the us. te forclosures on wall st. is what american administrations are trying help... but helping wall street would be a set back on the bill. they want this to be no hasle and very quick. we need help now !! one of the biggest stock crash since the great depression took place last year and its evident our econmy is i serious danger. administations just want to get things in some stable condition as quick as possible.
3 main steps to get a bill passed is as follows : The first method is for a bill to pass both houses of the legislature, by a two-thirds majority in each. Once the bill has passed both houses, it goes on to the states. after being approved from congress then it can granted !
RE: Aniseko Fiatoa
I agree with you. And I really do hope that Paulson's goals and plans will actually help America's economic bad situation. Paulson sketched out a multifaceted effort to confront the worst U.S. financial crisis in decades, outlining a program that could cost taxpayers "hundreds of billions" of dollars to buy up bad mortgages and other toxic debt that has unhinged Wall Street. He said that "This needs to be big enough to make a real difference and get to the heart of the problem". Hopefully it will.
On Aniseko's comment, I keep thinking about, we are trying to keep people from losing there homes but how can that happen when we are consistantly losing money. I don't want my family or families to lose their homes, because we are home owners, but we are still losing money as America so are they just going to erase the debt? I feel all the bill including good/bad loans need to be paid as much as you can.
Re: Aniseko
I feel that you agree to the bailout plan so easily. Don’t you feel a little doubt about the consequences this plan might bring? I wished I had as much confident with this plan as you do, but we, as a country need to sit down and go over this plan detail by detail before we let the Congress pass it “quickly and smoothly”. Maybe time is an assent and we probably do need to act on these issues right away, I truly don’t know. Altogether whenever I read or hear about this issue I picture America as a hospital patient, who need extensive care and fast…Everyone is getting a bit crazy, confused and worried…
RE: Richele
I know there are a lot of people out there that don’t fully understand what’s going on with the economy. I myself am one of those people, but WE as a country don’t have time to sit down and think this plan out. When 3 of the top 5 banks on Wall Street go bankrupt, that’s a sign that’s its time to move quickly. Yeah were in a war, yeah were spending a ridiculous amount of money on oil and yeah Wall Street has crashed, but we’ve been in a war for about 7 years and oil has been rising in prices for the past two years, Wall Street just crashed and that’s something we can fix.
Re : Sydney
I agree with Sydney, can we honestly say that this bill will erase bankers debt? I believe it will help stabilize the economy for a while but it will do great damage to American tax payers if its not successful. Then we might experience Great Depression 2!!!!
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