Is anyone still undecided?
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Is anyone still undecided?
| Tue, 10-07-2008 - 10:21pm |
If you are still undecided, let me know what you think of this... http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_193366

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Hi there –
Fannie and Freddie did not cause this whole crisis. It is much more complex than that. And again, markets are cyclical. We've had real estate booms, tech booms, manufacturing booms, banking booms, and guess what, almost all of them burst at one point. Giving any particular politician or set of politicians credit for this is giving them entirely too much credit for what they are able to do.
Fannie and Freddie were started under a reasonable premise - to increase liquidity in the mortgage market. The liquidity in this market is vital to our flexibility and strength as an economy. While you are passing out blame to these guys, you have to recognize that we have (and still do have) one of the best mortgage markets in the world. With a good job, some funds,
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Hey, we want one of those 2% fixed loans....can we get one without having $5 million on deposit with the institution?
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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php
http://www.youtube.com/watch?v=DQTBYQlQ7yM
LOL.
I am aware that what goes up must come down.
Personally I think I’m most excited to see some of these greedy CEO’s like companies at AIG or Executive’s responsible for signing off on a 400,000 dollar weekend retreat just *one month* after being bailed out – now, finally they are not getting away with spending money like its water, they will have to *answer* - those days are gone!
This isn't addressed to me, but there certainly is a correlation between the war and the U.S. economy and, therefore, the banking industry. The Iraq war is being entirely financed, not paid for, by the U.S. government. I like low taxes too, but if we think it is important enough to go to war it should be important enough to be paid for. That means higer taxes or significant cuts in domestic spending. Problem is no one wants to do either. The mounting debt held by the Bush administration can certainly affect the rates at which other countries are willing to lend to us. As debt mounts up, we face increasing concern with our ability to pay those debts, just like any borrower. Mounting debts can also lead to decreasing confidence by consumers and investors. Once confidence starts to go down economic performance generally does as well (both as a reason for and a by-product of the lack of confidence). I'm not sure that this had much of an affect on the beginning of the banking crisis, but I can promise you that the cost of the bail-out was balked at more due to the existing huge debt accumulated during this administration. I can also say that the addition of this 700 billion may weaken foreign investors' confidence in our ability to repay, thus increasing our cost to borrow in a time when we actually need to borrow.
A recession certainly is not the time to reign in domestic spending (McCain)
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