With the injection of capital in our financial system, I suppose that banks now feel assured and so is Wall Street. As Senator McCain rightfully have said, the 700B rescue plan is merely a "tourniquet" to stop the bleeding. For the most part, steps undertaken todate are temporary subject to government oversight and review.
We'll have to watch and see how the process evolves. However, Main Street is asking, what about me? I hope that future action by the big trinity, Paulson, Bernanke and Bair will involve an economic stimulus that gets spending money into the hands of middle America. To restore consumer confidence is to allow taxpayers to meet their needs and feel that they are not restrained to spend.
After all, without the taxpayers' money, we would be unable to overcome this crisis brought about by the abuses caused by mainly Democrats and a few Republicans who ignored Senator McCain's concerns over the runaway train which is Freddie Mac and Fannie Mae.
Much of the discussions revolve around the consumers' access to financing but most everyone on Main Street are already in debt. Credit should be available only to those who qualify for it. We should keep this in mind or we'll find ourselves in another runaway train.
Middle America has very limited funds to meet their basic needs- food, shelter and clothing. It is painful to see them stretch their dollars in the supermarket, forego the protection they need because they cannot afford the insurance premiums and unable to pay rent and utilities. I am faced with this situation on a daily basis and have that lump in my throat every time.
Main Street needs help. Now.
http://riyah6.blogspot.com
Here is your compass - based on the book, Destination Points A Values-Driven Journey.
About Me

- zoni
- I'm your next door neighbor with serious concerns about our America. Most people have been silent about things that matter because they do not have the facts. This blog's mission is to educate you about the issues that impact your financial security, your health and your values. In the words of Dr. Martin Luther King, "Our lives begin to end, the day we become silent about things that matter". Speak the truth. Be empowered and stand on the facts. Rise in righteous indignation and together we can effect the change to take back America.
Tuesday, October 14, 2008
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