thanks for your comment....reading yours and these responses, heres my thoughts: m bluethman, I gotta agree and disagree with your reasoning why Republicans lost a lot of seats in 06. Did the partisanship of the party have a hand? yes, but your forgetting that fact the that Prez at the time was the lowest approved prez, i believe, ever. Anyone attached to the Republican ticket was in dire straits, mostly to do war sentiments and gas pump prices. (Which by the way, take a macroeconomics course and you'll find the answer why the prices skyrocketed). Anyway, my view on the bailout plan is that there is the remote possiblity that House members did have the taxpayer at the forefront. With the meltdown of Fan and Freddie, where some legislators just ready to dip into our pockets yet again, refinace money market institutions, and hand them over to government control, just like Fan and Freddie? check out this link: http://online.wsj.com/article/SB122290574391296381.html
Interesting stuff said by Mr. Greenspan, basically saying that these huge lendors setup by federal government were going to eventually cripple the money markets, which is what exactly happened. Any Tom, Dick, and Sue could get a mortgage, as long as they had a SS # and 3 bucks to their name. People got in the habit of thinking they could afford 300k homes when the reality was just the opposite. Personal responsibilty is a lost art in this country and it frustrates the hell outta me. How many times do the taxpayers need to be called upon to bail the economy, health, workforce out of sticky situations? We are skyrocketing towards a socialist economy and even Rousseau, a socialsit political philosopher, would argue that a socialistic state of this magnitude would fail to exist. So to answer Ms. Pyatt question in her comment, I am scared. You keep adding weight to the yoke of oxen, eventually, the back is going to break.
Subscribe to:
Post Comments (Atom)
1 comment:
I really couldn't agree with you more about personal responsibility and lending itself to the meltdown of our economic status. I think it's so interesting how being fiscally responsible, even within my own life isn't something discussed or talked about very much with young adults because they see the way in which their parents have dont things, taking out loans, mortgages to produce for things they can't afford. It's the lost art of doing what one can afford and doing what one WANTS!
Post a Comment