Tuesday, September 16, 2008

This article was very interesting, and was written about the crisis that happened in the stock market. This article led up to giving Obama a good look. "It would reinforce the overwhelming public view that the US was "going in the wrong direction" and would make it more difficult for Republican John McCain to distance himself from the current administration." This is totally true. I liked the way they said polls show that Democrats are more trusted than Republicans to handle the economy not to mention any names that has screwed us over (Bush). Despite the fact, that when McCain by saying that wasting tax payers money by rescuing Lehman, and Bush reacting by saying the economy is good. The article said, "Barney Frank, the influential Democratic chairman of the House financial services committee, has been one of the few politicians to speak out, saying that further federal intervention might be needed as "the market has gotten into such a terrible state that specific interventions haven't helped". He said the next president would “set up the equivalent to a Resolution Trust Corporation, the $500 billion entity that took over all the failed savings and loan institutions in the l980s.” This essay is a must read for those of you who are interested in the stock department. And it also shows what changes we might have in the near future.