President Obama warned Wall Street today by saying there are no projected bailouts in the future. This comes from the one year anniversary of the bankruptcy of Lehman Brothers, which triggered the current economic crisis. President Obama made it clear that government intervention was ‘waining’, and for Wall Street to clean up its act. Robert Kapito, president of BlackRock, stated, “It was very clear that we will not be in that situation again under his watch, and people should not expect the government to do the same type of things they did before,” said Robert Kapito, president of money manager BlackRock Inc”.
With the massive bailout of the auto makers, and the stimulus passed earlier this year, there most likely is little remaining money to use for another stimulus package. With another stimulus package comes inflation, which may already be a crippling problem in the future. It is time for capitalism to occur, and for failing banks to fail, leaving room for competitive, inventive ones. We can no longer afford to keep pumping tax payer dollars into a failing system. I support government regulation; however we do not need more governmental takeover of failing industries. Hard times may yet be in our future, however we cannot just throw money at the problem and hope it goes away.
With the current health care debate. we need to start looking at ways to increase or efficiency. We cannot pay for failing companies and a national health care system with our current financial problems. We need to restructure programs that are not working, and fire many people who are not doing their jobs. Actions such as these will be painful, as more people will loose their jobs; however in the long run, our financial situation would be much improved.
I agree with President Obama, we cannot give more bailouts. Republicans are not pleased with his words, stating the bailouts have shown little improvement and will cost Americans down the road. In honestly I cannot ignore their point; as for me, I am not sure if these bailouts have helped matters. I think we need to wait to see how this crisis resolves, and then, learn from our mistakes instead of playing the blame game.
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ok im not a Obama hater, but dose people realty thank that President Obama will stop the bailouts? wher in a masige debt. but ther r some bad news of course and good news, yes its shocking. have u ever seen hee haw show that was about, thats good no thats bad how come deals? will Obama is a good exampal. as u know with all the spending thats bad, but good news is people cant trust in man or goverment. bad news people are losing ther jobs, good news is we still got the 1 god thou jesus christ as savor to provide for us. so if people dont believe in god or trust in him, thin can u trust in your job or jobs, or your works, or the Presidents, or the government? but with all this i do believe some people that was against god, is turning to god in the usa, but of course after all of this is over some people that was for god will be against god. but if your one of thous for get about praying.
Obama may have more bailouts in the future, and I hope he does not. We need to learn to be responsible, and if we keep bailing out companies, then what is to keep other companies from running an efficient operation when the government will just bail them out? This needs to end, however the average american needs to learn to be responsible as well. If someone is racking tons of credit card debt and has no way to repay it, they are as guilty as a big company doing the same.