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I need some help understanding the role of money in our society as it relates to personal finances / fortunes. If the money in my wallet / checking account / investments, etc.. is borrowed from the Federal Reserve to be repaid through work / taxes, then I really don't have any money right? I am simply...
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So argues Aaron Pressman in this piece in BusinessWeek . He claims that "the idea that a lending crisis created from 2004 to 2007 was caused by a 1977 law is silly." And follows up that "it’s even more ridiculous when you consider that most subprime loans were made by firms that...
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I am interested in yall's thoughts on the below video. It is meant to be a very simplified explaination of the housing crisis that does not require great economic literacy to understand.
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In the midst of our economic slowdown, the U.S. Treasury Dept has issued what they are calling the "Blueprint for Financial Regulatory Reform". The highlights, as given by an article on Yahoo!'s website , are as follows: --designate the Fed as the primary regulator for market stability...
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[quote user="plowking"] Clinton and Greenspan created the dot-com bubble, which burst in 2000. The result of this should have been a recession as the bad investments are purged from the economy. however, Bush didn't want the recession to happen during his first term... so Bush and Greenspan...
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No, i do not think the Fed went too far with the 1 point rate cut. The housing market will have a huge effect on the overall economy, and this cut will ease the problem. What WOULD be going too far are the various legislative schemes being considered that would bailout the ill-advised lenders and investors...