Wallstreet Bailout

The article I read, "The $700 Billion Question: Never before in the history of US capitalism has so much been asked of so many for so few." This article was found using the library registered Lexis Nexis Database. This article is written from a biased perspective. The author of the article believes that the proposed, "Bailout," plan set forth by Ben Bernanke and Hank Paulson is saving the rich at the commonpersons demise. The author, Robert Reich, tries to make the reader feel as if he was in the shoes of a congressman. He explains that the congressmen were virtually pressured to accept the bailout plan despite what they actually wanted to do. In Mr. Reich's article he then tries to elaborate on why main street is not supportive of the plan. Finally he lists what some of the provisions are set forth in the plan regarding the Wallstreet Financial Firms.
Basically many large financial firms ended up being leveraged to poor assets. Once this assets could not be valued then these companies had no way to gurantee their financial doings since no one could value the firms themselves. The plan set fourth by Paulson is not a, "Bailout," it is necessary. Yes, some wallstreet executives did make poor decsions, but if the financial system was to be let alone things would be much worse. For example, say a large bank such as Wachovia did not recieve money from the bailout. Well this would cause a run on the bank because not Wachovia would file for bankruptcy, and no one would want to have money under their institution. So Wachovia would collapse, this in turn causes fear and chaos ultimatly leading to more runs on banks and bank failures. Our economy and financial system would come to a halt. Hundreds of thousands of jobs would be lost, no one could get loans, and businesses could not function. You get the picture, things would just not work out if Wallstreet's Financial firms were just left out to dry.
This article can relate to the text messaging essays. The three text messaging aritlces suggest either postives for texting or negatives. Same could be said about the $700 billion dollar plan for wallstreet. Depending on what side you look at it, text messaging can be good or bad. Same is said for the bailout plan, if you a common person like myself at first glance the $700 billion dollar plan seems horrible. When analyzed the plan is positive and same goes for text messaging. The researchers in the, "Exploring the Potential Effects of Emotions," showed that messaging can be a postive doing. Overall people text proving that it is what they want to do. The bailout plan was passed proving that it is what people want. Congress does what the, "People want," if this was not you then maybe you should take elections into more consideration.