Million-Dollar Plan to Bail Out Wall Street Would Keep Recession (or Depression) At Bay

Sept. 25, 2008 - PRLog -- New York, New York -- While a million-dollar plan to bail out Wall Street and fend off a national economic crisis would result in each tax payer paying over $2000, it would end the credit freeze, and push aside the fear of a long and painful recession reported William Schmick in A Few Dollars More.

"Both sides of the Congressional aisle agreed on a frame work for the multi- billion dollar financial markets rescue on Thursday afternoon. There will be further haggling on the details but it looks as if the deal will pass–it better," said Schmick, a financial advisor and Vice President for Dion Money Management.

The lifeblood of business is lending– overnight, weekly, monthly or yearly loans–is what provides everything we produce, consume and save. "Without lending, everything stops. Last week the world stopped. Lenders were afraid to lend. Borrowers, no matter how credit worthy, could not borrow," said Schmick.  "If this credit freeze continued it would have ushered in a huge recession if not an outright second depression."

Schmick points out that there will be ramifications. The entire free markets model of the last fifty years will be re-examined while the unquestioned economic leadership of the United States since the end of World War II may now be in doubt he said.  "An over-haul and up-dating of regulation is certain. What impact this will have on our financial institutions and the way we do business going forward will provide additional challenges and opportunities," said Schmick.  "One thing is for sure: it will be a brave new world for all of us."

To read more of Schmick's posts, visit http://www.afewdollarsmore.com or contact him for additional financial advice.

About William “Bill” Schmick

William (Bill) Schmick, a 27-year veteran in the financial services sector, is one of the pioneers in international investing in the United States. He currently manages mutual fund portfolios for Dion Money Management, and has worked as an investment strategist and institutional broker in foreign and emerging market securities for some of the largest investment firms on Wall Street. Schmick also pens the financial blog, A Few Dollars More, an investment and retirement column, “The Independent Investor”and “@theMarket” . He has also authored several other financial articles for various periodicals and magazines. To learn more visit http://www.afewdollarsmore.com

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About William “Bill” Schmick

William (Bill) Schmick, a 27-year veteran in the financial services sector, is one of the pioneers in international investing in the United States. He currently manages mutual fund portfolios for Dion Money Management, and has worked as an investment strategist and institutional broker in foreign and emerging market securities for some of the largest investment firms on Wall Street. Schmick also pens the financial blog, A Few Dollars More, an investment and retirement column, “The Independent Investor”and “@theMarket” . He has also authored several other financial articles for various periodicals and magazines. To learn more visit http://www.afewdollarsmore.com