Just this morning, Wells Fargo Bank offered to buy all of Wachovia, without any government subsidy or assistance. If the market can work these problems out on its own, why do we need a government-financed bailout?
BU just announced a hiring and new construction freeze because it wants to save its money to help in financial assistance for students who are going to find a much harder time getting credit to pay for college.
So, right there you have a lack of expansion in a major institution, less kids affording college, less jobs being created by the university, and less building projects to keep construction sector jobs active...all because of a current and potentially widening credit crunch with banks panicking about giving away assets in this climate.
I'm not suggesting that any bailout plan that has been discussed yet is my favorite, but without some sort of bolstering, it will take quite a while for things to stabilize to the point that anyone left standing will be ready to do things like hand out loans.
Comments
Tell me again why this bailout was needed?
Just this morning, Wells Fargo Bank offered to buy all of Wachovia, without any government subsidy or assistance. If the market can work these problems out on its own, why do we need a government-financed bailout?
Thought about making this a new story
BU just announced a hiring and new construction freeze because it wants to save its money to help in financial assistance for students who are going to find a much harder time getting credit to pay for college.
So, right there you have a lack of expansion in a major institution, less kids affording college, less jobs being created by the university, and less building projects to keep construction sector jobs active...all because of a current and potentially widening credit crunch with banks panicking about giving away assets in this climate.
I'm not suggesting that any bailout plan that has been discussed yet is my favorite, but without some sort of bolstering, it will take quite a while for things to stabilize to the point that anyone left standing will be ready to do things like hand out loans.