The author of this column, Chris Hedges, a former Middle East bureau chief of The New York Times, shared the 2002 Pulitzer Prize for Explanatory Journalism. He has written nine books, including “Empire of Illusion: The End of Literacy and the Triumph of Spectacle” (2009).
How many times should we bail Wall Street out? How will these decisions affect you in your declining years?
Wednesday, January 13, 2010
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We shouldn't bail Wall Street out anymore. We're all in enough debt as it is. We pay through taxes, and especially in our economic situation, Main Street can't afford to keep bailing Wall Street out. We keep having to borrow from China. Our grandchildren will be paying these debts off, and we need to stop spending.
ReplyDeleteI think Wall Street has had it's fair share of bail-outs. I'd have to agree with Hedges, that Wall Street gambles money, and then gets more from the taxes paid by the American people. Wall Street isn't producing anything; there is no good or service that they provide that is benefiting average people in any way. If the regulations aren't working, and Wall Street is absolutely corrupted, then why bail them out? It should be torn down and rebuilt differently, from scratch.
ReplyDeleteThe article pointed out that we're in for another crisis. And I certainly believe it. I plan on saving up as much money as I can grasp, because I have no reassurance that there will be Social Security or any money for medical help for me for when I retire. And my kids? They're already cutting the amount of money given in scholarships, and education is sinking still. My declining years aren't going to be pretty.
I believe his over arching message here is that humanity and quality of life have been forcibly pushed out of the picture of prosperity in America, and that the concern of this day and age is primarily one's socioeconomic status. I feel as if we have to keep bailing out Wall Street because it is the epicenter of our capitalist economy, and therefore a major determinant of our survival as a country, but I think if the country continues to cling so tightly to capitalist and plutocratic virtues, the quality of the lives of the average American citizen will grow increasingly bitter, and there will no longer be a median between upper and lower class; just a boldly defined line on which most citizens will fall to the poorer side.
ReplyDeleteI think that we have bailed Wall Street out enough. I think that if we help them anymore, with no returns from them that we will have so much debt that three or four generations from now will be paying back for our generation. I agree with Christina. We only have another year before we start applying for scholarships, and who knows how much larger the debt of this country could be, causing for there to be less money to give in them. Also by the time we become adults ready to retire and expect to have social security, there may not any by then. An example of this is, Bright Futures. They have 100% which would pay for most of everything that you would need in college, which is not 100% anymore. I believe that we will have to work twice as hard to allow for our children to have what they need. Our children and grandchildren will be paying for the debt that was caused by their great grandparents, which I think is not fair. I think that our declining years will be very hard for everyone.
ReplyDeleteWe should bail out Wall Street, only if there is a careful watch on the way the money is used. Though we're a very laisse faire government, we can't be when we're just throwing valuable billions at a problem. We need to know how this cash is going to be used, and companies should be forced to show some measure of better finance use for several months before receiving the money. Why bail out someone who will just repeat their mistake?
ReplyDeletefinally me and christina can agree on one thing, stop bailing out wall street. if a student does not study and fails all his tests, the teacher should not give him a C. she should give him an F!!! come on. why must the government feel the need to inject itself into private business? ugh. less government=more freedom. and less government=better business.
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