The federal government has recently attempted to resuscitate the investment banking firms Morgan Stanley and Goldman Sachs as these companies seem to follow a general trend of failures in the investment banking industry. This bailout leaves many Americans wondering if it will work, and how to best implement the new changes. With the impending Presidential election at stake, it is critical for the candidates to provide America with their best arguments, and even more importantly for America, that they be correct in their judgment.
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A recent article by Laura Meckler, Elizabeth Holmes and Nick Timiraos in The Wall Street Journal entitled, "Candidates Keep Their Bailout Stances to Themselves," indicates that thus far, the candidates have not said much---or enough---about their stance on the issues at hand. Both candidates and their running mates must be very careful in their strategic assessment of the situation. One wrong move could leave either John McCain or Barak Obama in dangerous waters. The article argues that while it would seem "irresponsible" to oppose the plan, all-out support would create the image of an excessive spending policy. A bailout of such titanic proportions will leave lasting impressions on taxpayers for years to come. Americans wonder if or why their tax money should be spent to save these companies, and if it's worth adding so much to the already massive national debt.
The candidates agree that there needs to be substantial governmental observation of the rescued companies' finances They also agree that the government should not, and cannot, afford to give these companies or their executives a blank check (View Senator Obama's statements here). The article notes that Senator McCain seems unlikely to vote in favor of the plan unless there is a public disclosure of the American International Group Inc.'s assets---ensuring that in the event of a rebound the company would refund taxpayers (View John McCain's ad on the financial crisis here). Senator Obama, in alignment with his Party, would seem to be more supportive of the rescue mission. The Democratic Party's policy of big spending and closer governmental control would likely align Senator Obama with a vote in favor of the bailout. Their votes as individual Senators, however, should reflect their personal feelings on the subject.
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How will the candidates develop their arguments, stances and future policies? How will their projected policy affect you in the days, months and years to come? This is an issue which spans across every racial, educational, religious and economic background. Do we want to inherit the worst debts in American history? Can we afford to allow the government to interfere with private companies? Will our children inherit or be burdened with these troubles in the decades to follow? These are all things to consider when we learn more about the candidate's stances in the coming days. We all must ask ourselves these questions, and more (for more information, visit The Wall Street Journal website). The answers should help you make an educated vote in November. The legacy of these economically and socially troubling times may outlive our generation. The first step in any direction will be the Congressional vote in the coming days. How both candidates vote, and why they do so, will certainly be up for debate in the coming weeks. The vote, without question, will be a fabulous window for the American public to view and assess its candidates actions in an economic, political and fiscal crisis.
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A recent article by Laura Meckler, Elizabeth Holmes and Nick Timiraos in The Wall Street Journal entitled, "Candidates Keep Their Bailout Stances to Themselves," indicates that thus far, the candidates have not said much---or enough---about their stance on the issues at hand. Both candidates and their running mates must be very careful in their strategic assessment of the situation. One wrong move could leave either John McCain or Barak Obama in dangerous waters. The article argues that while it would seem "irresponsible" to oppose the plan, all-out support would create the image of an excessive spending policy. A bailout of such titanic proportions will leave lasting impressions on taxpayers for years to come. Americans wonder if or why their tax money should be spent to save these companies, and if it's worth adding so much to the already massive national debt.
The candidates agree that there needs to be substantial governmental observation of the rescued companies' finances They also agree that the government should not, and cannot, afford to give these companies or their executives a blank check (View Senator Obama's statements here). The article notes that Senator McCain seems unlikely to vote in favor of the plan unless there is a public disclosure of the American International Group Inc.'s assets---ensuring that in the event of a rebound the company would refund taxpayers (View John McCain's ad on the financial crisis here). Senator Obama, in alignment with his Party, would seem to be more supportive of the rescue mission. The Democratic Party's policy of big spending and closer governmental control would likely align Senator Obama with a vote in favor of the bailout. Their votes as individual Senators, however, should reflect their personal feelings on the subject.
How will the candidates develop their arguments, stances and future policies? How will their projected policy affect you in the days, months and years to come? This is an issue which spans across every racial, educational, religious and economic background. Do we want to inherit the worst debts in American history? Can we afford to allow the government to interfere with private companies? Will our children inherit or be burdened with these troubles in the decades to follow? These are all things to consider when we learn more about the candidate's stances in the coming days. We all must ask ourselves these questions, and more (for more information, visit The Wall Street Journal website). The answers should help you make an educated vote in November. The legacy of these economically and socially troubling times may outlive our generation. The first step in any direction will be the Congressional vote in the coming days. How both candidates vote, and why they do so, will certainly be up for debate in the coming weeks. The vote, without question, will be a fabulous window for the American public to view and assess its candidates actions in an economic, political and fiscal crisis.
