By: IST,
http://economictimes.indiatimes.com/News/International_Business/The_Great_Crash_of_1929_and_lessons_taming_the_crisis_of_2008/articleshow/3490888.cms
What this article basically states is that this wasn't the worst stock market crash. The crash was of the New York Stock Exchange (NYSE) in 1929. With that being said the article also says that America should be able to recover in time. If need be, then get government assistance.
My advice to the Federal government is to just lay back and let the situation resolve its self, but only to a certain extent. After all is is that companies faults that they went bankrupt in the first place. My advice is to simply ( well not simply) change the law about loans to what is was decades back which was in order to get a loan approved you had to have a percentage of that loan up front in cash. If that was the rule when these companies were giving out loans we would be dealing with another stock market crash. I don't want the government involved in this situation, but if this gets to a certain extent where thousands of banks go bankrupt and American gos into debt, then i will allow for the government to intervene. But if not, like i said before, let the companies work it out, let them learn from their own lessons not to give money to people who cant pay it back. My overall advice, don't give what you can't get back.
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