First the housing bubble finally burst, which led to the mortgage crisis. Then Wall Street started to feel the effects and the banks, both investment and commercial, started to fall. Stocks plummeted and the world started to feel the effects of a collapsing US economy.
The solution? A bailout plan. First a plan to buy bad mortgages from lendors to clean up their balance sheets, but no, a loophole allowed the government to change it’s mind. Invest in the banks instead….great. The big three automakers saw what was going on and thought it might be a good time to ask for some help, thus, the auto industry bailout.
What about the rest of us? I have lost most of the value in my stock portfolio, my 401(k) is falling like a rock, and a small business that I am a partner in is on the verge of failure that would then put me on the verge of bankruptcy. Where can I get my bailout?
Let’s hear your story. Here is a place to share your experience and who knows? Maybe together we can figure out a way to fund our own bailout.