American Government Duty
Introduction
As individuals, Americans may desire to come to the aide of those in need out of the goodness of their hearts, but they are not legally obligated to do so. Traditionally, under American law, no general duty to rescue those in financial trouble is imposed on us. There may be a morale duty to rescue those in trouble, but the law leaves that to the individual and their conscience. So why are so many citizens looking to the government for help with today’s economic situation? Only people can have a responsibility and the government is not a person. It gives the wrong impression of what government really is and sends people looking for assistance in the wrong direction.
I believe that Americans are divided as to whether or not the Government has an economic responsibility to bail out those corporations in financial trouble.
Government is an instrumentality; it is a means that we use to achieve our goals and objectives. We need to make sure that we use Government …show more content…
government. The corporation bought back the 14.4 million stock warrantsA security entitling the holder to buy a proportionate amount of stock at some specified future date at a specified price, usually one higher than current market. This "warrant" is then traded as a security, the price of which reflects the value of the underlying stock. Warrants are usually issued as a "sweetener" bundled with another class of security to enhance the marketability of the latter. Warrants are like call options, but with much longer time spans -- sometimes years. (Washington Post) given to the government in exchange for the loan guarantee. Because Chrysler's finances had improved and its stock had bounced back it reported $1.7 billion in profits for the second quarter of 1984 the government netted a profit of more than $660 million from its bailout
As individuals, Americans may desire to come to the aide of those in need out of the goodness of their hearts, but they are not legally obligated to do so. Traditionally, under American law, no general duty to rescue those in financial trouble is imposed on us. There may be a morale duty to rescue those in trouble, but the law leaves that to the individual and their conscience. So why are so many citizens looking to the government for help with today’s economic situation? Only people can have a responsibility and the government is not a person. It gives the wrong impression of what government really is and sends people looking for assistance in the wrong direction.
I believe that Americans are divided as to whether or not the Government has an economic responsibility to bail out those corporations in financial trouble.
Government is an instrumentality; it is a means that we use to achieve our goals and objectives. We need to make sure that we use Government …show more content…
government. The corporation bought back the 14.4 million stock warrantsA security entitling the holder to buy a proportionate amount of stock at some specified future date at a specified price, usually one higher than current market. This "warrant" is then traded as a security, the price of which reflects the value of the underlying stock. Warrants are usually issued as a "sweetener" bundled with another class of security to enhance the marketability of the latter. Warrants are like call options, but with much longer time spans -- sometimes years. (Washington Post) given to the government in exchange for the loan guarantee. Because Chrysler's finances had improved and its stock had bounced back it reported $1.7 billion in profits for the second quarter of 1984 the government netted a profit of more than $660 million from its bailout