What is really the meaning of the $700 billion bailout bill? What are the pros and cons?
Can somebody explained how this bill will help us...cause I'm kinda slow with this economy stuff :)
Asked By: miss kizumi - 10/2/2008
Best Answer - Chosen by Asker
I believe the "bailout" is short-sighted, like the actions and habits that got us into this mess. There are cheaper alternatives which will have more impact... More
Answered By: AllCourt - 10/2/2008
Additional Answers (1)
For various reasons, people took out adjustable rate mortgages during a housing bubble (price of houses spirals ever upward). Banks took those mortgages, re-packaged them as investment securities, and sold them. Many companies (including banks) bought these securities, and when the housing bubble burst, prices of... More
Answered By: Luckfish - 10/2/2008
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