2
I know who'd pony up
Scott, here in Reno, I'm sure they'd be happy to lay odds on that bracket you've got below. They're eager for folks to gamble on just about anything because they need customers here.
When I was checking in to a hotel/casino this afternoon, I remarked to the woman at registration how quiet it was. She nodded and said, "At least it's not as bad as across the street where they just let go about 300 people." The economy is so bad here that the tourism agency laid off 16 workers last Friday. The agency is funded mostly by room taxes.
I got quite an earful from this woman who checked me in (she didn't want me to use her name and kind of whispered across the desk). "You're talking to people about the bailout? Well I'm 64 and they ALL can take that bailout and... " I won't complete the sentence in mixed company. She doesn't believe the stories about the economy going into a tailspin if there is no bailout. She just doesn't believe them. And I predict we'll hear lots more of that sentiment as we head across the country.
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Tess Vigeland is the host of Marketplace Money, where she takes a deep dive into why we do what we do with our money. Follow Tess on Twitter @radiotess
"She doesn’t believe the stories about the economy going into a tailspin if there is no bailout. She just doesn’t believe them."
I don't believe them either, and I've been a Main Street shopkeeper for 28 years. I do believe all the economists I've heard on the radio over the last ten days who say the taxpayers should not buy the toxic securities of unknown value, but should buy shares of the banks instead.
I frankly can't believe the Senate missed this opportunity to redirect the effort away from this crazy handout to the super rich.
What's wrong with a "trickle up" financial bailout. A trillion taxpayer dollars would give all american families about $10,000 each. The distribution mechanism already exists from the "tax rebate program". We would all inject it back into the system in many different ways and quickly, I think. The financial system would absorb it and "the chips would fall where they may". Ultimately it won't debase our currency any more than the plan before congress, besides it's our currency to debase!
