How does the bailout affect ME?

iVillage Member
Registered: 05-26-2004
How does the bailout affect ME?
18
Tue, 09-30-2008 - 8:04am

I am really trying to understand all of this bailout talk. I hear "We have to do it." Then I hear, "We Mustn't do it."


Would someone please explain exactly what this Wall Street bailout means for me? So what happens now that it didn't pass? I would like partisan politics to stay out of it if that is at all possible. Economics was the one class in college that I did not pass. So, keep it simple. I would like to be able to intelligently discuss this with my children.


Are we truly in trouble? Should we take our money out of the bank and hide it? Is it as scary and dire as the media is predicting? Or is it all hype, just another way to help the rich keep their money?


Thanks so much for your help,

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iVillage Member
Registered: 04-10-2003
Tue, 09-30-2008 - 8:22am

Well I'm certainly no economic major but here's what I do know.


If you live on your credit card and don't pay off the balance each month then your credit line could be reduced.

iVillage Member
Registered: 03-26-2003
Tue, 09-30-2008 - 11:04am

I don't think anyone fully understands the economic situation we are in, or the full implications of not having the bail out vs.

 


 


I disagree with you, but I'm pretty sure

iVillage Member
Registered: 09-15-2008
Tue, 09-30-2008 - 1:30pm

http://abcnews.go.com/Video/playerIndex?id=5915403


here is a little video explaination. not much different from the other replies you recieved, it's just animated

iVillage Member
Registered: 07-11-2006
Tue, 09-30-2008 - 6:23pm

I think this NPR piece on Commercial Paper brings it home:

http://www.npr.org/templates/story/story.php?storyId=95099470

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siggybarbie
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iVillage Member
Registered: 02-16-2003
Thu, 10-02-2008 - 7:23pm

Hi Konnie --


I just wanted to stop by and let you know

Caryn D. Stein
Director of Community
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iVillage Member
Registered: 03-19-2003
Thu, 10-02-2008 - 7:42pm
YAY Konnie for souch a great thought provoking question!


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iVillage Member
Registered: 05-26-2004
Thu, 10-02-2008 - 8:02pm
Thanks Sue. Ya know I am an avid lurker on this board! I love it.
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iVillage Member
Registered: 05-26-2004
Thu, 10-02-2008 - 8:11pm

Hi Caryn.


Well, I am glad you liked my post. For us average people (LOL), this whole bailout thing-whether to support it, call the Congresswoman and complain or picket the local Senator's office until he votes for it--is just downright confusing.


I can't help but feel that in the long run, we are still going to pay dearly for the whole mess.

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iVillage Member
Registered: 09-25-2008
Thu, 10-02-2008 - 8:54pm

My state borrows money in the fall and pays it back in the spring.

iVillage Member
Registered: 03-19-2003
Fri, 10-03-2008 - 7:08am
I know that you are an avid lurker!

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