A Bankrupt bank?

In the beginning of this week, the bank the Lehman brothers filed for bankruptcy while Merrill Lynch sold themselves to Bank of America to avoid serious financial issues. With two banks near or at bankruptcy, Dow Jones stock has tanked, which causes huge controversy. How these banks have allowed themselves to go bankrupt is a common question, but the big question is what do we do now?

My personal opinion, is the more the government does, the more that will need to be redone. Stocks, unfortunately, will fluctuate with nothing we can do to control it. If the government gets involved with the stocks, I think it will defeat the purpose and main ideas behind stocks, that investing is a chance, and you have to go in thinking you will not get the money back.

As for the banks, I think the government should do what we can to stabilize them. The banks aren't something citizens put there money into for chance, people put all there money into the bank for safe keepings. With banks like Bank of America buying Merrill Lynch, it is good because the bank won't have any financial issues, but employees of Merrill Lynch will not loose their job because they won't be needed. I have a family member who is the president of a department for Merrill Lynch, and now due to the combination of companies, he fears for his job.

My opinion on Federalist vs. Anti Federalist is I'm more towards the middle of both. I have some opinions where my beliefs are more towards the Federalist side, and vice versa. It depends on the situation and the personal connection I have towards the issue.


Article;
Lehman Files for Bankruptcy; Merrill is Sold, By Andrew Sorkin, Published on September 15, 2008, The New York Times Online