Been really busy on a project and have missed all the racket. Could someone explain the root cause of all this fuss?What is this 'Financial Crisis' In USA all about?
Put simply, the hastily crafted plan lawmakers agreed to in principle on Sunday is intended to revive jittery and fragile banks on Wall Street and Main Street with enough money -- by using taxpayer funds to purchase billions upon billions of their worst mortgage-related assets -- so that lending, the lifeblood of the American economy, flows freely again. More people will lose their jobs, foreclosures will go up, paychecks will be strained and home values -- people's single biggest asset -- will keep falling, experts predict.
So - why bail out the banks? It's only for the politicians to look good? To keep the fat cat CEOs getting their million dollar bonuses?
I think so - it does nothing but hurt the average taxpayer, in the long run. And still, no one talks about what will happen when it's needed AGAIN next year!!
excessive credit/money growth, bad debts, an economy of building too many houses and asset bubble.
end of an era-- keep borrowing and spending and hoping that can last forever, fueled by "deficits don't matter" mentality. Now everybody is in debt with everybody, and everybody is having troubling paying off them, triggering a downward spiral in asset prices.
we need a new macroeconomic model to turn things around. 700 billion won't do it.What is this 'Financial Crisis' In USA all about?
The root cause was creating a government entity and allowing it to operate as a private enterprise. So, the answer is politicians.
The government isn't regulating industry like they should be. Industry showed how irresponsible they can be when given the chance. Now we have to pay for their irresponsibility.
What is this 'Financial Crisis' In USA all about?
Read "The Death of the West" by Patrick Buchanan. If you want to see the REAL root, this is it.
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