“So much of this decline in our markets and value destruction was due to the failure of Congress and the Administration to come out with a timely rescue package.â€
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“So much of this decline in our markets and value destruction was due to the failure of Congress and the Administration to come out with a timely rescue package.†Earlier this year, Senator John McCain said that “the fundamentals of our economy are strong.” Now that the economy is collapsing before our eyes, he is finally being called on it by the mainstream media. To make up for yet another gaffe that demonstrates how out of touch McCain is, he apparently received [...] First, there is this gem: Senior officials from the Bush administration and the Federal Reserve on Friday called in top executives of Fannie Mae and Freddie Mac, the mortgage finance giants, and told them that the government was preparing to place the two companies under federal control, officials and company executives briefed on the discussions said. The [...] President Bush has treated the economy the same way he has treated Iraq – he destroyed both of them. Remember when we had to cut taxes because there were budget surpluses? Well, the good old days are long gone as an administration official has projected a record $490 billion budget deficit for next [...] |
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