David Goldman
CNNMoney
September 22, 2008
“NO NO NO. Not just no, but HELL NO,” writes Richard, a reader from Anchorage, Alaska.
“This is robbery pure and simple,” Anna from Denver posted on CNNMoney.com’s TalkBack blog this weekend.
“It’s our money! Let these companies die,” added Claudio from Plainville, Conn.
After President Bush petitioned Congress Saturday for the authority to spend up to $700 billion to to bail out a financial industry on the verge of collapse, he said the high price tag was not only justified, but essential.
“It is a big package because it’s a big problem,” Bush told reporters at a news conference. “The risk of doing nothing far outweighs the risk of the package.”
But when asked what they thought of the government’s proposal, most readers gave an overwhelming thumbs down.
“I’m tired of rewarding institutions and people for the bad decisions they have made,” said Dean from Madison, Wis. “Sure, it will hurt tax payers if/when some of these institutions fail, but perhaps we need to let that happen. We do not need more big government involved in our lives. Enough is enough.”
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