This article cleared up some of the current financial situation for me. Who caused it, why is it happening and why wasn't it prevented earlier?
What does it boil down to? .....
" ... Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000."
"... There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.
What does it boil down to? .....
" ... Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000."
"... There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.
Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess."
Oh and did you read about our favorite governor? She's rockin' Florida now....
Talking with Dr. and Mrs. Young yesterday at church helped clear up what's going on for me. It's also interesting that the two conversations Daniel had this week with economics professors (Drs Young and Blewett) left him feeling far less concerned about what's going on than when you talk with your average American. I think the real shame in this crisis (which it is, and even the professionals says it is) is that the media wants to hype it up as much as possible while Bush is still in office so that people are drawn toward the democratic presidential ticket. So annoying...
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