Thursday, March 19, 2009

What has happened to your nest egg?

Posted by Norma at 3/19/2009 07:48:00 PM
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4 comments:

Lady-Light said...

Well, we never had a nest egg to begin with, but a valid point has been made. However, some governmental regulation is still needed.

Our current economic woes are in no small part due to public officials' and corporate greed and their needs for short-term gratification.

Also, the serious lack of oversight of these financial institutions by the previous administration contributed as well.

3/19/2009 10:42 PM
Anonymous said...

Lack of oversight by the previous administration?

Barney Frank joining Maxine Waters in saying Fannie and Freddy were great when the oversight body was calling for an audit is not by any strech of the imagination the previous administration. They are there now in Washington DC making up more crap to feed us and taking more of our money. They are the root cause of this as they fiddled while Rome burned (when they were not having perverse relations with executives from the GSEs they regulate)

3/20/2009 12:07 AM
Norma said...

Lady--I have to disagree. There is so much regulation it strangles both common sense, good business practices, and Congressional brain cells. Fan and Fred had oversight out the wazoo--from none other than the very financial wizards now leading the mob scene hearings. Those GSEs need to be dismantled and we should return to banks calling the shots on who gets mortgages based on sound financial principles not social ideas like a "right to the American dream."

And if you are in any pension plan through your employment, you do indeed have a "nest egg." And every deli, dress shop and auto repair shop you do business with depends on someone's investment.

3/20/2009 6:02 AM
Hokule'a Kealoha said...

Our collective nest egg in this country is the development and encouragement of small business which this administration is going to squash just like those eggs. If they really cared they would CUT taxes spending and encourage lending to business. There will be little job creation if this keeps up
If they wanted to bail out the country by throwing money at the problem they could have for only 400 million dollars, 1 mill for every man woman and child, the spending saving and job creation that would have occured would have been the ENVY of the world...this is a fact, the economy would have restarted immediatly, no more forclosure crisis, house buying crisis...but I live in dreamlAND... must be pressue on the brain from the rage I feel at all of these dingbats that elected these morons to office...

3/20/2009 10:18 AM

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