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With all of these big businesses getting bailouts....?
When can I, a common person, get a bailout???? I filed for bankruptcy last year, Chapter 13. I am on this payment plan to last 4 more years until I get my discharge. Some of us are guilty for making financial mistakes as well as these big businesses that are begging for a piece of this $700 Billion bailout. I guess it will always be true that the rich get richer and us common folk don't get a motherf*cking thing!
Is this bailout only for big business, will some of us hard working Americans get a little taste of this bailout?
2 Answers
- Ed AtunLv 71 decade agoFavorite Answer
One of the newest bailout suggestions is to help you with your bankruptcy repayments to creditors. That would get money to your creditors and relieve your burden.
Another is to pay the first $250 of everyone's mortgage payment..
- 1 decade ago
The bailout is being paid for by you, the common person. But since the combined taxes will not be able to finance these bailouts and other social programs more money will be printed. This inflates the money supply, making the value drop. The hope is that the economy will not fail to make up for the drop in the value of the dollar.
The $700 billion bailout of course gets the most press, but there was the buyouts of AIG and other financial institutions early in 2008. So the combined bailout figure is higher than one trillion dollars for this year. Add that to the taxpayer rebate checks and it really is quite staggering.
The real danger is the entrenched management in these businesses and their connections with congressmen in creating a credit crisis.
