Is bank bailout a good idea? Locals give their opinions

By ROD ROWE
THE GOSHEN NEWS

October 15, 2008 10:13 am

— As the Bush administration works on a plan to bail out the struggling banking industry, The News asked residents if the federal bailout of banks concerns them or causes any loss of confidence in their banks. Their responses follow:
Mike Pavlovich, Goshen — “I am concerned about everything, since I am laid off. It should be bothering everyone. I see more and more empty houses in town. You’d think the banks would be having repossession sales. And I have noticed a decrease in traffic on Main Street and throughout town.
“The worst part is that it doesn’t matter who gets elected. There will be a lame-duck Congress and they won’t accomplish anything until after the new president is sworn into office. The factors are not a two-sided coin, but it is a triangle. It is not good for the country. I am afraid this will become a ghost town.
“And now the government is into the banking industry. I don’t know — it sounds like too much involvement.”
Lanna Huffman, Goshen — “I have mixed feelings. I am curious to see what’ll happen with the election. In six to eight months we’ll know better. I am hopeful.”
Greg Kohler, Goshen — “I don’t see a problem with the government bailing out banks. But I don’t see any short-term fix. It makes me worry about retirement. But we pay taxes for a reason.”
Adoumadji Adouor, Goshen — “Yes, I have one bank I deal with in Goshen. I have confidence in my bank.”
Jack Kaler, Goshen — “I am satisfied with my bank. I have had a real long relationship with the bank. My whole family uses the same bank.”
Jill Kaufman, Goshen — “I’m not concerned. I probably should be. I figure it will all work out. There is enough protection and intervention to keep the industry stable.”
Gilberto Perez, Goshen — “It doesn’t affect my confidence in the banking industry. Everything is the result of bad decisions. We are taught to put our treasure in heaven. It is unfortunate that people plan and save for retirement, but should work as long as they are productive.”