Monday, March 23, 2009

News Talk Online March 23, 2009: New Treasury Plan Spurs Market

The Dow closed up, nearly 500 points, on word that the government is going to purge toxic loans by creating a public private investment program - to the tune of $1 trillion.

Some may say we're mortgaging our children's futures - but proponents say - this is the only way to give banks the confidence to loosen credit, so people can buy homes, cars,. appliances and electronics - and get the nation back on good footing.

But it does nothing, as far as I can tell, to help those who have already been burned - purged - themselves.

Is this bailout necessary? Do you feel comfortable with any bailout following the revelations that money spent on previous programs was used to buy corporate jets and such?

Do you agree with economists that this is absolutely necessary in order to stabilize the banking industry and to, by extension, stabilize the economy? Or are we just setting the economy up for an even bigger crash further down the road?

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