Local taxpayers respond to bailout
10:50 p.m. Tuesday, September 23, 2008
Can Congress help the bleeding on Wall Street with a $700 billion bailout?
It's a question that's on the mind of every American, many wondering if this is a mere band aid on a gaping wound.
Capitol Hill wants to help the financial sector and they want to do it fast. But it hasn't happened so quickly that they aren't getting a lot of flack from angry voters.
Darlene Ijams says, "Government's got to stop somewhere."
Who's to blame?
Tonight, the FBI says it's investigating the four financial institutions who helped trigger that $700-billion bailout. They are looking at potential fraud by the mortgage giants Fannie Mae and Freddie Mac, Lehman Brothers and AIG. The investigation is in preliminary stages but will focus on the institutions themselves as well as the individuals that ran them.
Betty Rauch says, "I really think the government should stay out of it. Let the system work. I think they'd do better if they let a private business buy them out, give them the opportunity to make it grow."
Those pushing the bill say the bailout will help the economy, but folks in the Capital City aren't so sure.
Richard Peterson-Klein says, "It's very difficult to know what to think of it. The reason being because we don't have a lot of information as to how it's going to operate, how it's going to work."
But there was one thing they are sure of.
"I can assure you the taxpayer will pay for this," says Peterson-Klein.
Darlene Ijams agrees.
" Well, I don't think myself as a taxpayer should have to pay."
Ellen Weiler said it shouldn't be the taxpayers who suffer.
"I think that there ought to be some punishment for the people that are responsible for it, as opposed to just bailing them out."
Those in favor say the taxpayers will ultimately suffer more without government intervention. If you do the math, this bailout could cost each American roughly $2,300.
Comments
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Sep. 24, 2008 at 8:55 a.m. (Suggest removal)wendy (anonymous)
We need fresh faces and more common sense in our gov't! As a small business owner the Gov't would never bail me out if I made bad financial decisions, so why do they help the big guys who got in the situation they are in by lining their pockets with struggling middle class money! I am voting McCain/Palin mainly on the hope that they can break the good ole boy system and give the gov't back to the people( at least some of it!)
Sep. 24, 2008 at 1:26 p.m. (Suggest removal)parkay (anonymous)
Gov. Palin is a well-known and accomplished political broom-wielder and head-lopper, just what we need.
And Sen. McCain was one of those in 2005 who raised his voice in Congress for the S.190 bill to head off bad mortgage practices and the housing collapse, a bill which Democrats blocked, because of the payola they were collecting from Fannie Mae and Freddie Mac.
There's two for our mop-up crew, anyway, to start our badly needed cleanup.
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