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Dow drop

Just watching the new about the Dow drop, and a short video of Pres. Bush saying that the bailout will be a slow process to study what caused the crash (as if we didn't already know- i.e. Lehman) to comfort "Main Street" (meaning us). From a national standpoint, what do you think can be done better to improve the situation (or to prevent the situation from repeating itself)?

Answer Question

Asked by BlueSaphire at 6:27 PM on Oct. 6, 2008 in Politics & Current Events

Level 21 (11,698 Credits)
Answers (10)
  • Run. Run as fast as we can. Only pack the necessities and get out of this country. Just kidding but I think we are in more trouble now if this bailout puts us in more debt.

    Answer by njmommy2boys at 6:59 PM on Oct. 6, 2008

  • I bought stocks today. Seriously. I got a really good deal on VISA. that was not a stock tip.

    Felt like I did my part.

    Answer by FiveofaKind at 7:35 PM on Oct. 6, 2008

  • Live your life and people need a serious lesson in living within their means. There is enough blame for this mess to go around, that's for sure. All the stinkin politicians who made millions off of Fannie and Freddie are scum.

    Answer by Anonymous at 9:18 PM on Oct. 6, 2008

  • The biggest change we as a nation can make is to elect someone who does not have policies identical to Bush's. 8 years of Bush created a worldwide economic crisis. So maybe McBush is not the right idea, if anyone cares about the economy.

    Just a thought.

    Answer by Anonymous at 9:28 PM on Oct. 6, 2008

  • The first thing that we need to do is to realise that the media is going to use scare tactics to get us to go along with what Washington wants, then we need to start thinking for ourselves.
    I go along with the buy stock option too, everything is cheap, and you know that eventually it is going to go back up, so if you have the time to wait, it is a good investment.

    Answer by MarshaB702 at 10:19 PM on Oct. 6, 2008

  • The Dow drop is down right scary. It makes me very upset to know that we have spent years saving and investing wisely (the way we should) and paying off our debt on time and then lose over $30,000 because of the carelessness and greed of others. For those of you who blame Bush you give him more credit then you should. He doesn't have that much power. The majority of the power is with congress. People need to take personal responsibility for the Dow drop. The lenders are to blame and those who took out loans that they couldn't afford. Shame on them both. America needed this wake up call, not a bail out. Americans have a sense of entitlement. What ever happened to personal responsibility?

    Answer by Anonymous at 12:08 AM on Oct. 7, 2008

  • Anonymous 11:08pm,

    I hope the best for you.

    Please forgive my curiosity- What are the details of this loss? The reason why I ask is that I'm thinking of starting a community for recovery solutions.


    Answer by BlueSaphire at 12:38 AM on Oct. 7, 2008

  • I heard an economist say that if the money is shifted to small local banks in form of buying some ownership in the banks that it will allow the banks capital and then they will inturn lend out the capital to small business owners and persons applying to buy property. This makes sense because the other plan is for the government to hire the same Wall Street money managers who were overpricing properties to begin with to reassess/revalue the debt and hand out the money to large Banks. This will take about 4 months. In the meantime, more people will be in foreclosure. We don't want our small local savings & loans to go under. This would make the few large banks left as a monopoly. The would control all of the wealth in our country. Something to think about? Huh?

    Answer by akhlass at 2:07 AM on Oct. 7, 2008

  • Four Months is along time to wait for the Bail out to help anyone. Right now, people are on the brink. The massive layoffs will come as December nears. With all the cuts, that the Bush administration has made to social programs for the homeless and needy, families will be out on the street suffering. Young children homeless. This is a real problem. Massachusetts has an increased in homeless families. I know here in California there are alot homeless and not enough shelters or food kitchens to feed the homeless. At least here in California, a family can recieve cash aid. That is not available in other states.

    Answer by akhlass at 2:10 AM on Oct. 7, 2008

  • akhlass,

    Hi :-)

    How would the public purchase into independent banks be first initiated? Was there any mention about this from the economist? Right now a lot of people are timid.


    Answer by BlueSaphire at 2:38 AM on Oct. 7, 2008

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