From D.C. to Brainerd, people focus on bailout

Brainerd area residents are scratching their heads over the proposed $700 billion bailout of troubled financial institutions.

Ginger Sayer of Nisswa and her sister, Pam Cottral, of Honolulu, were among several people interviewed Wednesday afternoon in downtown Brainerd who were asked for their opinion on the bailout plan.

Sayer wondered why the government would consider giving $700 billion to help big businesses when so many people are losing their homes.

"I understand that it's supposed to benefit America at large but how is this fair?" Sayer said. "Of course we don't want to see America go down the tubes but what's out there for those losing homes or worried about losing homes. Why aren't we worried about them?"

Sayer said she and her husband retired early and are living off investments.

Down the street, Del Schalz of Brainerd didn't mince words.

"I think they're crazy," Schalz said. "If I went broke, would they bail me out? No."

"So we're in one of those spots where we're wondering how this will affect us directly, too," she said.

"We don't want to sell our investments in order to eat and buy gas," added Cottral, who said she hopes to discuss the proposed bailout with her husband, an accountant and chief executive officer of a smaller company, when she returns to Hawaii.

Down the street, Del Schalz of Brainerd didn't mince words.

"I think they're crazy," Schalz said. "If I went broke, would they bail me out? No."

For years Schalz was the owner and operator of a semi-truck as an over-the-road hauler, but he said he went broke because of the high price of diesel fuel.

There was no government help to get Schalz's business back on its feet.

"So why should they bail these people out," he said.

Becky Flansburg, an employee at the Office Shop, and Melissa Hagen, owner of Itsy Bitsy, met to discuss preparations for Thursday's Women's Walkabout event.

Flansburg said whatever decision is made on the bailout, she didn't think taxpayers would come out as winners.

"I don't think we should have to pay for it," Flansburg said. "I don't think it's right. People got themselves in over their heads, the financial institutions got themselves in over their head but I don't want to see our economic structures collapse, either. It's a hard spot to be in. I don't know what the answer is."

Hagen questioned how much was proposed to be spent on the bailout and where the money would come from.

"I'm very uninformed and it's my fault," Hagen said. "I feel like I live in a bubble ... I definitely should be more informed but unfortunately I'm just not."

Sherry Hutchins of Pine River also wanted to hear more on the plan before casting an opinion, especially considering the political rhetoric coming out on the plan.

"It's an election year and that's playing into the argument back and forth," Hutchins said. "So I have to wait and see, listen and stay informed. It's a tough deal all around."

Only one person interviewed said he was disinterested in the news of the government's proposed bailout.

Mark Niemi, an employee at Nextera Communications on Maple Street, said he was indifferent about the government's proposal because he has limited investments and makes no house payment.

"I really have no opinion on it," Niemi said. "Really, good luck to everyone involved."

MATT ERICKSON may be reached at matt.erickson@brainerddispatch.com or 855-5857.