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The President says we need it, the Treasury Secretary says we need it, and the Fed Chairman says we need it, but the Salt Lake Board of Realtors is questioning the government's involvement in a possible massive bailout of the nation's banks.
Board President Jillinda Bowers says she feels for the taxpayers. "That the taxpayers would have to take this debt on themselves and require them to pay it back, these loans that millionaires made, you know, we need to let the free market work," she said.
Bowers told KSL the government should offer lines of credit to banks and not bail them out completely. She also wonders what will happen to the long-term economy, the dollar and borrowing costs if the President's plan moves forward. She expects long-term negative repercussions.
E-mail: cwall@ksl.com
