September 18th,
2008
The U.S. Federal Reserve
had a lot of "balls" by bailing out an organization for the
second time this month. But isn't that a rather risky move on their
behalf?
Many are speculating that
this will set a dangerous precedent for the American financial and political
scene in the future.
With the American economy
on the brink of disaster (and the entire country on the verge of sheer
bankruptcy, just a few pennies shy of all-out declaring it), it makes
a few wonder why the government was so quick to help save a failing
organization with an $85B (U.S.) "emergency" loan, rather
than spending that money on infrastructure or on bailing out the general
public and their own financial woes (i.e. unstable mortgages).
On an episode of The View
on Wednesday, September 17th, the topic arose as the female panelists
were babbling relentlessly about the entire fiasco. Whoopi Goldberg
voiced an adamant opinion that echoes this sentiment, much to the chagrin
and challenges of a scrupulous retort by Barbara Walters to the contrary.
One cannot purely blame
Whoopi for holding this perspective as it holds a lot of valuable points
about this situation. Why would the government willingly spend such
a large amount of money on an institution and not contribute that kind
of money to the ailing public?
This is a rather socialist
approach to handle this situation given the rather conservative and
capitalist mentality of the United States. But the nation's been in
the conundrums for the last eight years, so perhaps it's a sign of the
times for them to take on this leftist perception in order to remedy
their lingering fiscal Armageddon.
It was stated by the government
that it was done to prevent an "even further economic collapse"
should the company file for bankruptcy. Yet by showing you're actively
willing to offer a system of support for any company that cries for
help, that means every and any company will extend
their hands begging for "spare change." Hardly something an
entity already in financial trouble cannot afford to do.
One only knows whether this
storm will subside or intensify as the days pass. But the question now
is whether they will continue to bail out organizations or whether they'll
bite the bullet and help their people - the citizens who fund the financial
coffers of the country - out of their monetary ruts or not.
Only time will tell.
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