What do you think?

With all my heart I believe the straw that broke the camel’s back was the greedy lenders allowing people who could not afford nor qualify homes, to get in them. As far as Wall Street, Banks, Auto Companies, etc. and now even the USPO having financial problems….this was just a cascading free-fall of organizations who were operated on the greed premise. Since the big boys got caught – why not declare “need for bailout” before the greedy hordes are caught and have THEIR books gone over.

EVERYBODY AT THE TOP of most organizations KNEW.

These are excerpts from 5 different articles I read today. I am keeping a positive outlook, and hope alive, but these things raise big questions in my mind:

By JENNIFER LOVEN, AP White House Correspondent

“The Obama administration unveiled a plan to melt a vast credit freeze by helping banks shed bad loans. Under the plan, the government will finance the purchase by private investors (who are these folks?) of as much as $1 trillion of the $2 trillion in bad assets still held by the nation’s banks, in the hopes of freeing banks to begin lending more freely and churn up economic activity.”
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Obama’s Press Conference Stirs the Buzz
by Mike Krumboltz

“After an uncharacteristic gaffe on ‘The Tonight Show’ and an unfortunate case of the giggles on ’60 Minutes,’ President Obama had a lot riding on his Tuesday night press conference. The president largely stayed on message, using the hour to focus on the economy, the budget, and his anger (even if was delayed) at those darn AIG bonuses.

The buzziest moment came about 35 minutes into the press conference when Ed Henry of CNN asked the President why he didn’t spew outrage as soon as he learned about the AIG bonuses. Why, Mr. Henry asked, did the president wait several days before speaking out? The president, with an icy stare, responded that he “likes to know what he’s talking about” before he speaks. It was a pretty testy exchange that brought about nervous laughs…”
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By ANDREW TAYLOR, Associated Press Writer

“The budget panels, in fact, submitted plans that would discard Obama’s signature $400 tax credit for most workers after it expires at the end of next year. According to their budget outline, that tax break could only be extended if other taxes are raised to pay for it.

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By Andy Sullivan Andy

WASHINGTON (Reuters) – The FBI is bracing for a wave of fraud and corruption cases stemming from the government’s multitrillion-dollar effort to get the economy moving again, the agency’s chief told Congress on Wednesday.

The expected surge in economic crimes will place further strain on an agency already stretched thin as it investigates mortgage fraud, terrorism and corrupt politicians, FBI Director Robert Mueller said.

“Our expectation is that economic crimes will continue to skyrocket,” Mueller said.
“The best way to bring our deficit down in the long run is … with a budget that leads to broad economic growth by moving from an era of borrow and spend to one where we save and invest,” Obama said in a Tuesday night news conference.”
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By CHARLES BABINGTON, Associated Press Writer

One drawback to Obama’s collegial style is that it glosses over differences that may prove extremely difficult to resolve. Behind Wednesday’s happy talk were great uncertainties about how or even whether the Democratic-controlled Congress will limit greenhouse gases, expand health coverage and protect millions of upper-income Americans from the bite of the alternative minimum tax.

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2 Responses to “What do you think?”

  1. Ricky_O Says:

    It’s all about the lobbyists. The part they don’t want the public to know about is that the two parties dictate policy to those elected; and the parties are the ones getting the largest contributions from insurance, pharma, and bankers. Either you’re rich and you count; or, you don’t. It’s that simple, and don’t think otherwise.
    This whole society is about to experience a number of huge problems: aging generation, failed economy, growing obesity, degrading educational system. The worse part, no one cares. I’ve never seen such an apathetic generation.

  2. Marsha J. O'Brien Says:

    Thanks for your comments. I agree with you 100%. Could you kindly explain whom you refer to as the apathetic generation – age group or ?? THANKS!

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