Thursday, September 18, 2008

The Week that Shocked the Global Economy

Two major bank collapses and one more on its way out, One huge insurance company,and four money markets in trouble for risky investments. The house of cards has collapsed. I don't think that any one party was particuarly at fault but rather our entire government that allowed the deregulation of the banks with no follow up. To say they would self regulate themselves was ridiculous and again who is left holding the price tag for this? The same folks who have lost their houses due to the unethical behaviour of the folks who worked for the financial institutions. So in the huge bail out of the financial institutations we should ensure that the folks who will lose their jobs (the worker bees), the folks who were foreclosed on, and those who need a leg up directly due to this clamity are taken care of too.

Check out Obama and McCain position on this currant calamity. Here is Obama's take on the sitation
http://my.barackobama.com/page/content/economyvideo

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