US economy is in a grave trouble and this has been repeatedly said by Paulson since a long long time but no one paid any heed to him. Now when the boat is sinking people are questioning him why should America approve the bailout plan and why should he be the only person to be trusted with the plan and money --without any oversight board to keep sight on him?
My take on this is, Americans who ask this question are out of their minds!!
They are questioning Paulson who actually is the only alternative because if they do not approve this plan they will sink US economy for decades.
People are worried that if this proposal goes through real estate prices will go up.But my dear friends where is the money to buy at higher prices. Don't forget, once burnt twice shy.
Let me ask you a question. If America does not bailout itself then who will? You think other countries would dare to buy these kind of debts-- not a bit.
As Warren rightly points out that the US Government does not have any limit on borrowing so why not borrow at good rates, turnaround things and then make money out of the deal.
Paulson is a great guy and much more sensible then George Bush and he has rightly opted to turnaround the tide and take the American economy out of this storm. I am sure he will buy at low prices, good enough to make a profit, and he surely has plan to get out of this trouble.
I guess taxpayer does not need to get worried because if bailout does not happen they will suffer all the more.
You think sellers can outsmart Paulson by trying to sell him garbage at any price? I don't think so he is one of the smartest person in America and does not need to be doubted.
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