^^
From 1998 -- to 2006, when the Pubs had full control of Congress...it never occured to any of them that the housing bubble/ownership society stuff might be roaring out of control? This credit/mortgage calamity we are in is the result of NONREGULATION. Simple as that. McCain can stroll the halls of Congress all he wants, but I just told him why we're in the mess.
We have 2 choices. We can either dig a bailout trench and fight this fire. Or we can let it burn down main street and Wall Street and deal with the resulting Unemployment through small and large businesses failing all across the nation. Perhaps nary a business has closed in Connecticut, but if you bother traveling 100 miles in any direction beyond Connecticut, perhaps you'll see a Depression-era picture forming of abandoned shopping centers and For Sale signs wavering gently in the breeze across millions of lawns all across the nation.
Sweden and Germany are the most recent Euro countries who did this same bailout that we're trying to do. They lived through it fine. We can come back on the other side too.
From 1998 -- to 2006, when the Pubs had full control of Congress...it never occured to any of them that the housing bubble/ownership society stuff might be roaring out of control? This credit/mortgage calamity we are in is the result of NONREGULATION. Simple as that. McCain can stroll the halls of Congress all he wants, but I just told him why we're in the mess.
We have 2 choices. We can either dig a bailout trench and fight this fire. Or we can let it burn down main street and Wall Street and deal with the resulting Unemployment through small and large businesses failing all across the nation. Perhaps nary a business has closed in Connecticut, but if you bother traveling 100 miles in any direction beyond Connecticut, perhaps you'll see a Depression-era picture forming of abandoned shopping centers and For Sale signs wavering gently in the breeze across millions of lawns all across the nation.
Sweden and Germany are the most recent Euro countries who did this same bailout that we're trying to do. They lived through it fine. We can come back on the other side too.