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The $700 billion bailout- Is it the best/only solution?
I'm not an expert. Can anyone explain why buying failed mortages will restore confidence and loosen the credit crunch? Are there other just as cedible solutions? How serious is this mess?
3 Answers
- Anonymous1 decade agoFavorite Answer
We shall see if it was the best---but it definitely is the quickest solution--and it needs to be implemented or we will all suffer---because if nothing goes through we will go into a major depression---and just look at history and what happend during the great depression.....
- towwwdothelloLv 41 decade ago
There is no credit crunch; there are bad investments and there is no way to cover the bill.
Persons will require housing regardless of whether or not they maintain their homes--it is in the government's best interest to assist the citizens maintain their individual property considering that it is a fundamental right to own property; by providing a guaranteed mortgage plan in the event of financial hardship--the government can then sell the mortgage to a reputable and sound banking industry with the intent of providing a reasonable payment plan to keep families in their homes.
Fair trade and reputable businesses will continue to flourish and earn their incomes.
- BubbaLv 61 decade ago
Credit is the American way, nothing is done without credit in most cases.
Small businesses pay their employees with money they borrow from banks.
The average American has more than 4 credit cards.
Almost everything is bought on credit, so in reality it is a serious mess.