Sunday, October 05, 2008

Question Of The Week, 10/5/08 Link Repaired

Good morning. Being out of work sure has brought on some changes, my sleep/wake schedule is all fouled up. I'm sure I've said looking for a job when your 58 years old is a job in it's self. Having a history of back problems doesn't help, and after your laid off for 30 days you no longer have insurance so your doctors lose interest in your case. The back pain takes a back seat when worrying about keeping a roof over your head and food on the table. All this makes it easy to understand why my local paper compares the financial crisis/bailout to a boat foundering in stormy waters. The article goes on to question how well the $700 billion "rescue plan" was understood by the public and the media. "A lot of people think it’s just writing a blank check to the financial sector,” said Dr. Mark Jelavich, chair of the economics department at Northwest Missouri State University. “I think that’s the main thing that people don’t understand ... maybe some of the media don’t understand.” (Continue Reading) This weeks Question Of The Week is. How well was the "rescue plan" understood by our elected officials that voted on it?

I'll post my answer in the Comment Section Tuesday morning.

God Bless America, God Save The Republic.

Thanks go to
the St. Joseph News-Press


Blogger David Schantz said...

If you had tried before I now have the broken link fixed. God Bless America, God Save The Republic.

9:28 PM  
Blogger AI said...

Like us, our elected officials interpretation is colored by ideology so my guess is that they did not fully inderstand the mechanics of what they voted for. Economists too have varied opinions on the likely impact of the so named bail out.

11:56 PM  
Blogger Praguetwin said...

Well, I think most of them generally understood what they were voting for, if not the specifics. The opposition was mostly ideological in that they didn't want the public buying private assets.

But I'm sure a lot of them don't understand what a Mortgage Backed-security and a credit default swap actually is or how they work.

I'd bet that McCain is in that camp.

12:25 PM  
Blogger David Schantz said...

First I want to thank you for stopping by to answer this weeks question."How well was the "rescue plan" understood by our elected officials that voted on it?" I have a feeling that there was just a few that understood it and very few that took the time to read it.

God Bless America, God Save The Republic.

6:54 PM  
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