National / World Politics 21 Dec 2008 08:15 pm

Junk Loans and Accounting Scandals

Link to video

There’s enough blame to share, but these bad policies started in the Carter Administration in the 70’s and were made worse in the Clinton Administration in the 90’s.

A methodical breakdown of a financial crisis is contained in the video link above.  If you have 15 minutes to spare, you’ll book mark this and recommend this to others.

And when it comes to pushing us out of this problem – we need to remember this.  The government doesn’t HAVE any money.  What money it HAS is from taxes paid by us.  So all these new jobs programs?  The money has to come from somewhere.

The next President has promised a lot already but has yet to say where he’ll get the money to pay for it.

We need to think more about pretty simple things too, moving forward – Like where credit card companies get all their money for fancy buildings and salaries…  they certainly have never made a penny on me. I should have paid more attention in ECON classes in school, I guess.  But my Parents advice of “if it looks too go to be true, it probably is” or “live within your means”…  always worked for me.  Although I did break a mold and bought my first “foreign” car this year.  But that can be another post later…

Just watched Sen. Corker, (R-Tenn) on CSPAN with Brian Lamb this evening.  I like his sense….

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