<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Oct 12, 2008
YOUR LETTERS
</TR><!-- headline one : start --><TR>Why bail out those responsible for financial crisis?
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->I don't understand how governments suddenly have bottomless pockets to bail out financial institutions while, at the same time, they preach that the man in the street should not count on the government to subsidise his health care, usage of public services, basic food costs and so on.
They explain that doing so will strain the country's financial resources or lead to welfarism.
Will such governments bail me out when I'm facing bankruptcy? So why are governments now bailing out these irresponsible and greedy bankers?
Here's a simpler and cheaper idea. Why not give everyone (excluding the bankers) US$1million (S$1.5 million) each, make them pay off their debts, force them to put aside a certain amount of money for their retirement and they can then go shopping or set up businesses with the leftover money.
This will surely drive up demand and get the economy rolling. At least, it can benefit the majority of people instead of a small percentage of Wall Street geniuses who already have millions to last several generations. Karen Lee (Ms)
YOUR LETTERS
</TR><!-- headline one : start --><TR>Why bail out those responsible for financial crisis?
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->I don't understand how governments suddenly have bottomless pockets to bail out financial institutions while, at the same time, they preach that the man in the street should not count on the government to subsidise his health care, usage of public services, basic food costs and so on.
They explain that doing so will strain the country's financial resources or lead to welfarism.
Will such governments bail me out when I'm facing bankruptcy? So why are governments now bailing out these irresponsible and greedy bankers?
Here's a simpler and cheaper idea. Why not give everyone (excluding the bankers) US$1million (S$1.5 million) each, make them pay off their debts, force them to put aside a certain amount of money for their retirement and they can then go shopping or set up businesses with the leftover money.
This will surely drive up demand and get the economy rolling. At least, it can benefit the majority of people instead of a small percentage of Wall Street geniuses who already have millions to last several generations. Karen Lee (Ms)
