With the recent bailout of Fannie Mae and Freddie Mac, more trouble is coming around the corner. The NY Times is reporting that Lehman Brothers, Merrill Lynch, Washington Mutual, and insurance giant, American International Group (AIG), are primed for collapse or bankruptcy as well.
There's a reason why this is happening. And it's all tied to deregulation (thank you Ronald Reagan) and artificially cheap credit (thank you Alan Greenspan). And while analysts are hoping takeovers, or a sudden influx of funds are around the corner, they really have no plan for dealing with the steady drip of institution collapse in the economy.
With more collapses are around the corner you would think John McCain would want to tout his economic policy proposals. Oh, yeah, I forgot. He has none, other than more of the same. Tax cuts.
No wonder all he wants to talk about is lipstick. His world view and economic policies represent the Mother of All Pigs.
- Mark
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