Printer Friendly

Letter: Why US bailout is wrong answer.

Byline: Dianne Selden

THE US must do something about this economic crisis, but the EUR700 billion bailout won't work.

In its current form, the bailout will slam high taxes on working class, elderly, and deprived Americans - people facing the same problems as you: mortgage problems and job losses included.

But if the government didn't encourage banks to engage in high-risk lending and other volatile behaviour, we wouldn't be in this situation.

Bailing out these banks will encourage them to continue gambling on taxpayers' livelihoods, while the banks' heads, the comfortably rich, and the politicians trying to pass it won't be affected.

Can a plan scraped together in one week fix a problem brewing for years?

Citizens of the world have to face this fearful time of economic crisis.

Do we weather it out humanely, supporting each other, or do we frantically clamber to make it out on top, forgetting those we crush?

Dianne Selden, an American student living in Cardiff Bay
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Letters
Publication:Daily Post (Liverpool, England)
Date:Oct 2, 2008
Previous Article:DAILY POST YOUR VOICE IN WALES: An expensive lesson in arts funding.
Next Article:Letter: Quality jobs?

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters