Student letter: Support the bailout
November 4, 2008 · Updated 2:23 PM
I agree with the U.S. government’s bailout bill because financial assistance to certain investment banks is important in order to improve our economy.
If investment banks cannot loan money to people and businesses, many bankruptcies would occur. There should be punishments for the bank’s troublesome behavior.
People and small business should have to repay the money that the government loaned them as soon as they are able. The investment banks should also be responsible for the money that the U.S. government is giving them by repaying the loans with future earnings.
Lastly, home mortgage rates need to change. Variable interest rates should be illegal; only fixed rates should be allowed so that people know how much money they are borrowing.
In conclusion, our government should adopt the bailout bill and my new suggestions so that our economy recovers and does not go into a greater recession, like another Great Depression.