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Obama's Remarks on the Economic Crisis

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This morning - like so many others over the last few months - we woke up to some very sobering news about our economy. Over the course of a few hours, the failure to pass the economic rescue plan in Washington led to the single largest decline of the stock market in two decades.


Added on: Thu Oct 02, 2008 10:06 am by : JeremyHolter
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Its scary to learn these facts….gradually the ugly face of economic recession is dawning before us. So far, the destruction was done only to the mortgage market, but its spreading like a malignant to the other sectors as well.

I support the view that its time for some action….we should take steps that will prevent the situation to go beyond our control.



     
I guess we need to sketch a well planned solution to tackle this problem. Bailing out is definitely offering a temporary relief to the drowning financial institutes, but if this fund isn't distributed and monitored properly then it may lead us to a greater economic set-back.

The bailout is certainly going to make the average American poorer.


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