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Cheque please! 800 billion dollars
Sorry I haven’t written in two weeks, as I have been busy launching my new site called CantSellMyHome.info/ . It’s a social networking site like facebook.com, but build for the US Housing market. It lets users exchange ideas and strategies on selling their home. Best of all is that the site is free, and only costs $5 to list a home for 3 months. It’s my answer to helping friends and family who have had a hard time selling their home. Anywho.
I’m just stunned at this point. The government has committed $800 billion more in debt bailout. One fact I didn’t know until today was that over the last year the government has taken in 7.8 trillion in financial commitments already. Just saying it makes me queasy. You try to say it. Seven point eight trillion. It’s off the Richter scale. How much more will our money be diluted by bad business practice? How will we control this in the future?
Over the last few years I have been a strong believer in deregulation. Less is more. But large corporations have ruined that for us. Now there are regulations on the stock market that limit how an honest person conducts business.
Bad business practice has forced the hand of regulation, government ownership of banks, and a recession. And not just for the US, but also the rest of the world. I believe that business owners should be held responsible for damages done, and so far, this hasn’t happened. There are CEO’s out there with failing mortgage companies who have made over 300 million dollars over the last three years. All of this money should be taken back to bail out the bad loans they gave out.
The US economy cannot take anymore bailouts at this point without making the value of the dollar worthless. The only way to keep this from happening now is if all the other major countries do the same. Which, thank god, they are.
The way forward must be a higher accountability. See-through business accounting/spending to stake holders. When you are dealing with a loan product, you must prove to the government and public that you can uphold your end. That means that businesses need to keep more money in the bank to cover accounts.
I still can’t get over it…just saying seven trillion.
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