Author: Stephen Labaton
Update: In the last couple of weeks something is trying to be done about the financial crisis we're in. Henry Paulson has asked for 700 billion dollars to fix the financial crisis we find ourselves in. While the stock market is crashing and the government has officially started to help out and bail out companies, my opinion stays the same. I believe that the government should only step in somewhat. The government should not have a full say in what happens to this countries financial issues, they didn't have a say in where people's stocks went and so they shouldn't do anything about what happens when the stocks go down. People chose to do things the way they did and they should not depend on the government; they should not look to the government as a life vest.
While the economy goes down, Bush tries his best to tell everyone that the decreasing economy at the moment is only temporary. He says, "In the short run, adjustments in the financial markets can be painful — both for the people concerned about their investments, and for the employees of the affected firms. In the long run, I’m confident that our capital markets are flexible and resilient, and can deal with these adjustments.”
My advice to quickly slipping economy is this, let the government interfere slightly. The government should not have full control over the stock market. If the businesses fail, they should not depend on the government to take them out of their problems so quickly. Tax payers should not always have to pay for a business' mistakes. However, if the business effects everyone and needs to be saved, it should be.
Businesses should be conscience enough to know that they can't let out that many loans, but they should have a better understanding of the whole situation, they should know that thousands of people are depending on the fact that they need their business to do well.
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