December 14, 2007
American oppose banks bailout
US Taxpayers are not too pleased with the governments intervention in their plans to support the sub prime market, in a survey compiled for the National Taxpayers Union the results are varied but show a significant amount of people around forty five per cent, who are opposed to the governments bailing out the sub prime mortgage market.
When asked who will benefit from this intervention? Its seems that the majority around forty eight per cent believe that it will be the sub prime lenders or wall street banks who will directly benefit from the governments help, while only twenty six per cent believe that it’s the homeowners who have the sub prime mortgages who will be helped.
The problem here is the fact that if the banks started to literally go out of business, this would have even more disastrous consequences on the world economy.
Source [Home Guide 123]
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