A Financial Crisis
September 30th 2008 02:04
The news media keeps talking about the U.S. being in a financial crisis, but are we really? Lending criteria have been tightened. That much is true. However, it is only more difficult for those that are not credit worthy. Banks are not making loans to anyone like they used to. Now, you really have to show that you can repay the loan.
Those people that show that they can repay a loan – they have a good job and good credit – are able to get what they need. They can still buy homes and cars.
The economy is not great thanks to speculators and greedy people that made loans to people that did not have the ability to pay. Is a buyout really they right direction to go? The House didn’t pass a partisan $700B plan today. There are many reasons for this.
For my part, I am not sure it was really in the best interest of the U.S. Sure investors want that buy out; it’s an easy fix to a very complex problem. When you really think about it though, that $700B has to come from somewhere. In solving Wall Street’s problem, we would have seen the dollar weaken.
Now I am not a big supporter of big government, but I do think there are some good lessons that will come out of this when we get through this crisis – AND WE WILL GET THROUGH IT. If stricter regulations are not placed on Wall Street, I would be really surprised. In addition, I think this will help us to establish some new economic policies for the future.
Those people that show that they can repay a loan – they have a good job and good credit – are able to get what they need. They can still buy homes and cars.
The economy is not great thanks to speculators and greedy people that made loans to people that did not have the ability to pay. Is a buyout really they right direction to go? The House didn’t pass a partisan $700B plan today. There are many reasons for this.
For my part, I am not sure it was really in the best interest of the U.S. Sure investors want that buy out; it’s an easy fix to a very complex problem. When you really think about it though, that $700B has to come from somewhere. In solving Wall Street’s problem, we would have seen the dollar weaken.
Now I am not a big supporter of big government, but I do think there are some good lessons that will come out of this when we get through this crisis – AND WE WILL GET THROUGH IT. If stricter regulations are not placed on Wall Street, I would be really surprised. In addition, I think this will help us to establish some new economic policies for the future.
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Comment by TimmyH
Tech News
Can you HACK it?
Genyration
Comment by S.L.
The Political Brief
I'm getting really tired of people getting away with inventing new "rights" that were never in the Constitution to begin with while trying to take away rights that we were guaranteed.
Comment by TimmyH
Tech News
Can you HACK it?
Genyration
How did Liberal Politicians (and for the record they're not REALLY Liberal...moderate at BEST) have anything to do with the stupid lending practices of major banks.
I'm loving this financial crisis. I actually hope the US government goes into Trillions of Dollars in DEbt by Nationalising Banks and Insurers. Wouldn't that be the best slap in the face for Globalisation EVER?
Get Excited!