Their failure to lead is the craziest thing we have ever heard. If they had passed a real drilling bill instead of the fake bill that was passed the oil industry would have created 15,000 new jobs overnight. These are good jobs building offshore rigs and pipelines to bring the oil to market. Not to mention making the USA more independent for our energy needs.
This credit crisis has resulted in 3% of homes being in foreclosure, the depression in 1929 resulted in 50% of all homes being in foreclosure.
The problem with the notes that everyone is complaining about is one of valuation of the notes, not that they are worthless. With house prices decreasing the banks according to accounting rules have to value the notes at the lower of cost or market. Right now no one knows what the notes are worth even though most of the notes 97% are being properly paid on. But the notes have to be written down to reflect their true value, which lowers these banks ability to borrow because of percent they can borrow is tied directly to these assets that according to accounting principles have to be decreased.
No one is talking about this on any of the news channels.
We do need leaders who will balance our budget in Washington. [Like we need leaders in New Albany who will balance our budget!]
The one statement that Palin said is "we should stop giving money to people that hate us."
We agree...
That is the first person to ever hold the top two spot that understand what the rest of the USA has been saying or thinking.
