Monday, September 15, 2008

The Bad Economic News Keeps Coming

Stocks See there worst one day decline since 9/11.

The nations largest insurer near collapse as a result of the credit crisis.

Nations largest thrift lowered to junk bond status .

This is the result of greed furthered by a lack of regulation. The Republican mantra was let industry police itself. If you think that philosophy works then keep voting for these clowns. It happened in the 1980's with the Savings and Loan crisis which nearly culminated with a censure against John McCain for helping Charles Keating bankrupt his institution at a cost of 2 billion to the U.S. taxpayers.

If you don't learn from history you are bound to repeat it. How many times can we repeat these same mistakes.

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