Thursday, September 25, 2008

current event reflection uno

so. current events for the current...times are as follows: stock market is falling apart. congress proposed a 700 billion dollar bail-out (that's quite a lot of money...) and is currently fighting about it, and also proposed to scoop up and bail out fannie mae and freddy mac (which are a really big deal) one question (not to be a pain in the ass, i actually want to know) did no one see this coming? isn't there a way to tell when big companies are about to go under? i mean... they weren't all shady about it enron-style so why wasn't it visible earlier that the companies were on the verge of failing? were there signs? like i said,i dont know. Also, i dont know if this 700 billion dollar bail-out is a good idea either. the U.S. already has quite a large naitonal debt so where is this money coming from? fogeign countries? that's a poor decision to let other countries have anymore power in our economy than they already do, but it is necessary to save fannie and freddy before they're past the point of no return, just for stability's sake. i wish i knew more about the economy, enough to have an intelligent discussion about this...alls i know is it's mighty scary to see the stock market in trouble.. depression scary? we shall see....

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