Bailout - 2009

The rising number of bad mortgages was on an ever present omen for the American people the last few years.   Banks and companies had lost millions of dollars, investors, and investor confidence.   Treasury Secretary Henry Merrit Paulson Jr., Republican,   came to the rescue. He had been Time’s “Man of The Year” in 2007, and his popularity was high.   On September 19, 2008, he proposed an overwhelming bailout-plan.   The plan was called the TARP, or Troubled Asset Relief Program.   The TARP required congress to give $700 billion to get failing banks, who had given bad mortgages to people unable to repay them, back on their feet.  
You don't find many people considering Paulson as “Man of The Year” any more. Paulson has become an unpopular, controversial figure, the target of harsh criticism in the media. America simply doesn’t believe that it is right to use tax payers money to help private companies out of a self dug ditch.   Shouldn’t America choose what to do with their own money?   Both questions force yourself to think about your own opinion. Should the government use tax payers hard earned dollars to help private companies avoid chapter 11 bankruptcy?
Some think that the company should be able to close for making such lousy decisions.   The company obviously is doing something wrong, there for they should take the consequences and pay.   In many cases we find that large businesses pay their CEO’s and presidents hundreds of millions a year (AIG gave $165 million for just bonuses), which obviously could put the company in terrible debt, and cause the workers to be upset.   When asked “Under what conditions would multi-million-dollar bailouts of private businesses be acceptable?”, reporter Mike Moffatt said this. "Never. The difficulty is, though, that some companies get "too big to fail" and have to be bailed out...”.   Some say that GM deserves to fail,   that they over produce cars that few people really actually buy; many also think that the best idea is to declare...