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Trillion Solid
What is a political solution to this economic crisis?
Last week just to see that Lehman Brothers went bankrupt and Meryl Lynch bought the same day. Today, the SEC banned shorts for 3 weeks with the hope of new firms with higher performance. Now the government is offering billions of dollars in ransoms to several companies, including major AIG. What kind of policy changes should be taken to this economic crisis? Solid + not only empty answers verbatim "that guy is wrong with my guys is OK"
As usual, if the answer seems unattainable, look at the issue. The reason why we have the economic crisis is due to politics. The solution to the economic crisis is to let the free market fix it. The Government is not the solution, the problem is. The government mandated loans to people who could not afford it. This led to a false claim and inflated housing prices housing. When the cost of living rose, due to rising gas prices, inflation had. There was no corresponding increase in wages. There too many people in search of employment. Then interest rates rose. People could no longer afford to pay the mortgage on their homes. many houses hit the market due to mortgage securities forclosures.House down and houses no longer worth what people need in them. The solution would have been put to a businessman in charge of Fannie and Freddie AIG and let the government out of business altogether. The regulations suggestng who gets loans and who is not a recipe for disaster.
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