Announcer: Obama wants to slash $14 billion from your prescription drug plans. Why? He doesn’t like that private companies make money by providing you with your drugs. Obama’s plan? He wants the government to run your prescription drugs. Imagine! The government deciding what medications you can choose, where you can buy them, and how much you must pay. Retired Woman: “I like my prescription drug | Read More »
The article below claims that Fannie and Freddie were not responsible because 1) “84% of subprime mortgages were issued by private lending institutions.” 2) “Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that’s being lambasted by conservative critics.” To point 1) Here is what this misses. The private sector issued these loans and then Fannie and | Read More »
Below is Obama’s Letter. Do you see any mention of Fannie/Freddie? March 22, 2007 Dear Chairman Bernanke and Secretary Paulson, There is grave concern in low-income communities about a potential coming wave of foreclosures. Because regulators are partly responsible for creating the environment that is leading to rising rates of home foreclosure in the subprime mortgage market, I urge you immediately to convene a homeownership | Read More »
Today October 10th the AP reported the following: “OPEC said Thursday it will hold an extraordinary meeting Nov. 18 to discuss how the widening global financial crisis is affecting oil prices, a move that could lead to a coordinated production cut in a bid to halt crude’s steep losses.” This follows their response a month ago when oil prices fell to JUST $106 they cut | Read More »
In an interview just aired on CNN, real estate investment tycoon, Donald Trump stated that the “real problem is oil”. He went on to say that just lowering interest rates would not help this economy and while he favored the bailout bill he did not know if that would work. (Update: He previously supported the bailout, but a poster says he now opposes.) Trump is | Read More »
I watched the debate as a replay on CNN. I liked watching the Democrat/Independent/Republican lines move as each spoke. Now I could discuss the ups/downs of the Iraw war but there was one point that was very interesting. There was only one point in the debate when the Republican approval line went up and the Independent line not only went up but went ABOVE the | Read More »
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