Reason the first I can never be the president, president of a large corporation or a business reporter: I don't understand this Wall Street bailout thing.
Seriously -- this is not a political statement of any kind. I just need someone to explain this to me.
I've been reading everything I can, but I'm still unclear about a few things:
1. How did this happen?
2. Isn't this free-market capitalism? Someone starts a business, and it's their job to make it run correctly. Right? And if the business isn't successful, for whatever reason, isn't the owner responsible for that loss? How does it become my responsibility to pay for it?
3. What happens if we DON'T bail out these companies? I mean, I hear what politicians are saying. What I want is a straight answer from someone who doesn't have a dog in the political hunt.
4. Should I take my investments out of my Fidelity account and just put the money in the bank?
Anyone who understands this stuff more than me -- which is probably everyone -- please, please explain it minus the partisan politics. Explain it like you're talking to a 5-year-old, because I am confused.
2 comments:
I got nothing.
We just had a newsroom-wide discussion and no one here really understands this either.
If so many journalists don't understand this, how can that be a good thing?
You lost me at "in all seriousness."
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