WHAT THAT $700 BILLION DOLLAR BAILOUT WOULD’VE DONE IF PASSED!

DO YOU THINK LAWMAKER MADE THE RIGHT DECISION?

As many of you know that $700 billion dollar bailout bill for Wall Street has failed on Capitol Hill. But many out there aren’t quite sure exactly what it would’ve done for the economy. Here’s how it works to the Insite’s understanding. The piece of legislation would’ve allowed the feds to purchase bad mortgages and other weak assets held by investors at mainly financial institutions and companies. That would make those entities more likely to lend and take pressure off the national economy that’s already hurting. Also, under the plan, the government would insure the troubled securities rather than buy them. Tax breaks would provide additional incentives to invest in the market. But as most of you know now our Congressional lawmakers have already given the plan a big thumbs down. Do you tink they did the right thing or doomed our economy? The Insite would love to hear your opinion!