Rate cut of half a point, 700 billion dollar bailout. Can we print any more money? Not only is my net worth eroding before my eyes as the market sends blood into the streets, but what cash I do have is becoming worthless as cash is being printed as fast as the mint can handle. This country needs drastic reforms to fix this. We are in the middle of watching our nation’s wealth be destroyed by poor decisions and a desire to prop up a failing market.
I am of the opinion that we all would have been better served letting risk taking institutions fail. Is that not what we are all taught? With great risk comes great reward. That is quickly becoming the case for any company that does so. However, the American people are being punished for the risks they took in supporting these entities. I have heard people referring to executives coming out on top. Do you not realize the majority of these executives’ net worth was tied to these companies in stock grants and options? They are watching as their nest egg is smashed just like the rest of us.
Submitted by Chris Bailey
