Friday, September 19

Extra Credit: The Economy

5 comments:

2 Boys' Mom said...

The Federal Reserve does not have the legal right to appropriate money. That is why they are going through the Treasury department.

If anyone should be bailing any company out it should be Congress because they have the right to appropriate money and budget it.

In my opinion, they should not be bailing anyone out. What this is doing is raising our national debt even more. The citizens are paying for these companies missmanagement. We didn't bail out Enron...why are we these other companys? What are they going to do....nationalize everything? We are not currently a socialistic nation...who knows after this election.

Stephan - the cuz said...

Is a bail out necessary? That's the burning question I cannot answer but I know the issue stems from the desire to save the poor and end social injustice.

Looking back to a time when I was younger and less inclined to care about politics there happened to be a President who put a policy into place that would "... bring about affordable housing". At the center of the policy and social movement were Fannie Mae and Freddie Mac.

In 2003, our current President made moves to regulate the lending giants and make them more accountable for the loans they give out. It failed to pass the Senate due to outcry from Democrats who were around to make sure the initial plan went through during Clinton's years.

Stephan - the cuz said...

I found the NYTimes article on the policy change in 1999: http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260

Stephan - the cuz said...

The corrected link.

Please delete the comment above.

Jessi said...

Natalie - No post-debate posts???

 

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