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 WASHINGTON (AP) - The economy is listing. So it must be time to bail. While there is little enthusiasm for government bailouts in general, voters are increasingly demanding immediate government relief as the economy ebbs.
The Fed-engineered bailout of investment banker Bear Stearns and other assistance to financial institutions has further raised expectations. To some, the $30 billion JP Morgan-Bear Stearns deal also raised a fairness issue: Should the government bail out a prestigious investment bank while doing little to address the hardships of Americans facing foreclosures on their homes, or caught in other troubled segments of the economy, such as laid-off factory workers?
Members of Congress, particularly Democrats, will press the issue when they return from their spring break next week. Bailout proposals for homeowners abound, including several measures to get lenders to rework home loans. There are also bills to increase federal regulation over the nation's financial system.
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