main street: Does Anybody Have A Clue?
- 10/26/08 01:51 AM
I have been saying for months that all of the foreclosures are not due to the mortgage meltdown. There are far more homeowners who have had their homes for nearly fifteen years who have fallen victim to the economy. Companies are downsizing if not going out of business and that has a direct impact on one's ability to meet financial obligations. The New York Times article Spending Stalls and Businesses Slash U.S. Jobs provides a perfect illustration of what is happening. Over the last two weeks Merck, Yahoo, General Electric, Xerox, Pratt & Whitney, Goldman Sachs, Whirlpool, Bank of America, Alcoa, Coca-Cola, … (9 comments)
main street: A Call To Action
- 10/11/08 11:09 PM
The people on main street are looking to Washington to provide the lead on how best to regain our financial footing as a Nation. The trouble is that Washington needs help. The reality is that we are not alone in this quagmire. A global economy hitting the skids needs a concerted global effort for regaining stability. There was no better example of this than when Iceland seized control of its three major banking institutions that were faltering. To make matters worse, Iceland appeared to be favoring its citizens over foreigners when it came to insuring deposits. Clearly such an approach wreaks havoc … (1 comments)
main street: Spellbinding Consequences of the National Crisis - on a Personal Level
- 10/05/08 06:00 AM
The national bailout/Rescue Plan is now law. Wall Street can begin its upward ascension. Perhaps it won't be business as usual, that remains to be seen. However, for the people on main street, not much has changed.In a number of instances due to circumstances beyond their control, many still find their backs against a wall with no way out. They continue to struggle silently with financial burdens that threaten their way of life. far too many were barely making it before the national crisis. The poor performance of the economy over the last eight years is taking its toll on some … (3 comments)
main street: Tell Me Something I Don't Know
- 09/25/08 12:12 AM
Last evening President Bush pitched his Bailout Plan to the American people. He commenced reading the teleprompter by espousing the dire straits of the economy. He recanted the horrors of wall street and the stagnant housing market, things the American people are all too familiar with. What we don't have are the real details of his Bailout Plan and for those who do, they are not impressed. This lack of enthusiasm is not partisan. The Washington Post quotes, "At the hearing yesterday, Republicans on the committee were as harsh as Democrats in criticizing the Bush administration's handling of the financial crisis. … (0 comments)
main street: Feds, Fraud & Funds - The Fleecing of America
- 09/24/08 04:20 AM
Is everybody happy? It doesn't appear to be so! At least not on the hill. As congress prepares to recess and with nearly six weeks to the presidential election, there's the making of a non-partisan squabble over President Bush's hastily contrived bailout legislation. I am convinced that assistance from the government is essential. However, the details of the assistance need to be made public. The legislation is still being drafted as suport is being sought, not a good approach. This concern is echoed in MSNBC's article with the subtitle: Anger, Skepticism Among Members of Both Parties May Put Bill in Jeopardy. … (0 comments)
I have been saying for months that all of the foreclosures are not due to the mortgage meltdown. There are far more homeowners who have had their homes for nearly fifteen years who have fallen victim to the economy.
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