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Updated: 10:42 AM Nov 13, 2008
Local Experts Weigh in on Government Bailouts
From Fannie Mae to Freddie Mac... who wins and who loses?
Posted: 6:16 PM Nov 12, 2008 |
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And when it comes to these bailouts.. when is *enough.. enough? 23 news Economic Reporter Kristin Burke joins us in the studio with more on what some local experts think about the handouts.
There are mixed reviews among local experts when it comes to which companies should be allowed to fail and which ones should be saved.
I spoke with Blackhawk Bank President Rick Bastian and financial advisor Jeff Luedke... Both think the Feds have created a so called "drive through window" and companies are reaching their hands out expecting Uncle Sam to give them an endless amount of money.
And so far... The Feds keep on giving.But Luedke says although this is something the government needs to do right now... He believes some of the companies getting handouts... took risks they shouldn't have.... and now need to pay the price
"Where does it stop... I think its going to stop here fairly soon because the government is forgetting who their customer is and there customer is us the taxpayer and we cant keep giving away money that were bailing out people with to companies that keep making mistakes on their own nickel."
Luedke says the market and the economy are intertwined and some of the companies receiving money make up a large percentage of the economy.
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