Quick 5 questions for Nicolas Koudou

1 What’s your background in economics and business administration? I have a PhD degree in forest products marketing and economics.

2 Is the economic bailout a necessity to keep the country out of a recession or depression or is there a different way? Yes! The bailout is the only best way out of this economic disaster since the Great Depression of the1930s because the time factor is currently very important.

3 How did we get in this mess in the first place?  We got in this mess because the U.S. government objective to increase home ownership in U.S. was not well thought, and many citizens who could not receive mortgage loans under normal circumstances benefited from 100 percent financing.

4 What long-term implications will this bailout have on taxpayers? With the huge amount of money ($700 billion) that will be used to assist the banking industry, someone would have to pay the cost and the taxpayers are the victims.

5 Are people’s checking accounts and savings accounts safe if a bank goes under? Americans have one of the lowest saving rates among the most industrialized countries; as a result, the relatively small group of people who have saving and checking accounts would take the advantage of the FDIC. The scary issue is our retirement accounts if nothing is done.

– Michael Glover