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Posts Tagged ‘money

from Tech Crunch

How The U.S. Government Engineered The Current Economic Crisis

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.

”From the perspective of many people, including me, this is another thrift industry growing up around us,” said Peter Wallison a resident fellow at the American Enterprise Institute. ”If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.”

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In 2008, everybody and their momma is a pundit, so why not lil ol’ crazy Jamaican me 🙂

Why does Obama’s fund raising this last month means so much. Simple. Because people are voting with their pocketbook. Yes he had a bump from the nomination. That I am sure explained why half a million new people gave him money for the first time. Sure the argument maybe, yeah they’ll send him money but behind those curtains in November, what will America really do. Well look at it this way, this is the greatest transfer of wealth to a black man in the history of this country. This is not from a corporation like Sony to Will Smith. We are talking about money going from people struggling to buy gas and feed thier families to BarackObama.com

Regardless of how anyone feels about Barack Hussein Obama, he has struck a chord, he has tapped a vein, deep in America’s collective conscience and his campaign is mining it for all it’s worth.


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