Click to subscribe in a readerShould We Bail Out AIG?
When the administration tries to rush something through congress, I worry. I also get a queezy feeling about the huge bailout that is being proposed.
The numbers are staggering, so much so that it defies comprehension. Our national debt ceiling will be rased to $11.3 TRILLION dollars. The bailout will cost $700 BILLION dollars. Maybe. It could be more, and there’s no guarantee that the plan will work. So far, the proposed bill doesn’t offer relief for homeowners.
I highly respect the opinions of economicst and NY Times columnist Paul krugman. He has an excellent column today called Cash for Trash that I recommend if you’d like a more sober view of what is going on.
For me, Krugman’s articles are clear, insightful and always provide the long view. I also find the NYTimes’ freakanomics blog, in the business section, helpful in sorting through these issues. A recent post was a Q&A on what got us “here” that was the best I’ve read so far.
On Talk of the Nation on NPR today there was an interesting conversation about this and one of the commentators suggested they tithe 10% of the billions of dollars in bail out money to the ordinary people who may lose their homes and most everything else through this mess. Thoughts?