tag:blogger.com,1999:blog-5603230977766349701.post8078226538529487737..comments2024-02-14T17:38:00.302+10:00Comments on The Saipan SCUBA Diving Blog: For What it's Worth - Sink or Bailscubatripphttp://www.blogger.com/profile/07503265598968789965noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5603230977766349701.post-47714939059476952812008-10-01T09:07:00.000+10:002008-10-01T09:07:00.000+10:00Seems like the last few days there have been a num...Seems like the last few days there have been a number of banks (institutions) happy to buy up others at a pretty good price. <BR/><BR/>It also seems like a good one follows each bad day on the market. That means someone is making some money and I doubt it's the main street folk wondering if they will have a job after the big shake up.<BR/><BR/>Rather than a wall street bail and pump all this capital into the banks bad debt why don't they get ready to give assistance to those who will need it. <BR/><BR/>It didn't take long after 911 to fan out hundreds of thousands of TSA folks supposedly improving our security. For 700 billion dollars couldn't they take some of those who loose their jobs and train them to objectively give out assistance to those who need it and can prove it.<BR/><BR/>Those that loose their job because the banks lay them off for example. <BR/> <BR/>The elderly who were planning on using investment savings to live on in the next 5 years.<BR/><BR/>Or those who get laid off and can no longer afford health care. <BR/><BR/>Perhaps a subsidy for small businesses that show they are on the edge now and any loss of business is going to cause them to lay people off or not provide health benefits. The government could absorb the blows and ease the pain of this "correction" at the source of the pain.<BR/><BR/>A human element is a must. I don't think those who just bought the new living room entertainment system with the "no payments until 2009" option should get bailed out in anyway. Especially if they went into their home purchase over extending or not considering a worst-case scenario including job loss. Some decisions just can't be rewarded on Wall Street or Main Street.<BR/><BR/>For those who cry socialism, 700 billion dollars from the government whether filtering through the banks or given directly to citizens in distress is the same anyway you slice it. <BR/><BR/>Of course I'd trust the money in my own hands, or to those who need it, rather than in the banks and the very people who got us into this.<BR/><BR/>It's not going to be easy but anyone who thinks the next 5 years are going to anything but hard for a lot of people are probably the same ones making the markets work for them during this time of uncertatinty. The rich get richer......scubatripphttps://www.blogger.com/profile/07503265598968789965noreply@blogger.comtag:blogger.com,1999:blog-5603230977766349701.post-73615508880766209292008-09-30T02:56:00.000+10:002008-09-30T02:56:00.000+10:00I absolutely believe it's time to sink or swim. T...I absolutely believe it's time to sink or swim. <BR/><BR/>The market needs an enormous correction, not a bail out. And it's time for a $250,000 house to be worth just that and nothing more. <BR/><BR/>(Yeah, take that all you...you... Wall Street bail-outers out there.)<BR/><BR/>NeilAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5603230977766349701.post-68798903089937655392008-09-29T13:23:00.000+10:002008-09-29T13:23:00.000+10:00I agree wholeheartedly Mike. A system has taken p...I agree wholeheartedly Mike. A system has taken place over the last fifteen years of absolute necessity on consumerism and easy credit. We use a cellphone for three months, and throw out a perfectly good and almost new phone for the newest thing. We have a nation going into incredible debt.. just to keep up with the "newest". It's silly and wrong. We've lost all sense of moderation and thoughtfulness. Why save for something when the bank will loan you the dough?<BR/><BR/>There must be a correction. Nothing wrong with wanting the newest thing.. save up for it. Nothing wrong with wanting a house.. save up for it (or at least a good downpayment).<BR/><BR/>Bailing this system out.. won't correct the behavior of the banking and credit industry, and won't correct the behavior of consumers. It's time to bring some frugality, thrift and savings back into the picture.Lil' Hammerheadhttps://www.blogger.com/profile/11937533318872228053noreply@blogger.com