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Author: SPARTANBURG One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1568  
Subject: Bailing out our beliefs! Date: 9/26/2008 1:21 AM
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$700 billion will be given to bail out our problematic institutions. It is a huge number that only the U.S. is able to afford. We are the only country with such economic power. However, just because we can afford this act doesn't mean we should do it!

Why is this act any different than Italy bailing out Alitalia or France or Japan helping out their ailing companies. And for that fact what is the difference from Russia nationalizing oil companies or China subsidizing exports.

All these acts are aimed at helping their national companies reach the national goal of becoming ever more powerful nationally and globally. It seems realistic when discussing other countries.
However, the U.S. has been trumpeting laissez-faire and actually doing it with success for some time. I don't know if times have changed and the U.S. will be the world leader for everyone to follow or just one of the countries that is part of a globalized system.

I am afraid the precedent set by this act disregards the tax payer and allows the States to be defined on a different scale - much lower than ever before.
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