Another Great Depression?

I read the article, Delicate embrace by Obama, McCain of bailout deal by a reporter from the Rocky Mountain News . This article was explaining the $700 billion bailout and what the effect is going to be against the financial industry. The article stated that Barack Obama and John McCain have to be a part of the plan/problem because it will be a huge issue in the presidential election in November. The bailout will involve taxpayers, automakers, and people in banks. Many financial workers say we have “to keep the worst financial crisis since the Great Depression from spreading throughout the entire economy.”

This article is not a big issue for me right now because I’m obviously not voting in November, but I will be in the upcoming election. This bailout plan is a major issue because I believe that if it isn’t fixed it will result in something horrible, like another depression. I think this problem will have an effect on people losing their jobs since it involves $700 billion, especially the bankers, homeowners, and automakers. I’m scared for both Obama and McCain because they’re running against each other and in their speeches they are going to have to mention this crisis. Many of the workers I mentioned above are going through difficult times because loans and mortgages are not being paid so this results in many foreclosures. The Center for Responsible Loans states that, “if judges in courts change mortagages it would save 600,000 homes from being foreclosed.” That is about 600,00 people (not including families) losing their homes which means they may become homeless. All of these issues would lower the economy, so everyone needs to work together to solve this issue so we don’t have the Great Depression 2. I’m both excited, but mostly scared to see what the presidents will say in their speech about this plan.