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Economic crisis, solution!

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By Yellowburgandy


Economic crisis, solution? Logic?

Through logic I knew months ago that we were near an economic disaster because of massive foreclosures and following that the high gas prices, everyone I talked to, family, friends and even strangers said that we are not heading to an economic disaster, well look, here we are, right smack in the middle of an economic crisis.

Now, what we have learned is that the source of the economic crisis is Acorn, then Fannie Mae and Freddie Mac, yea, you heard it, the source of this economic crisis stemmed from bad mortgages, not Wall Street. So here's where the logic comes in...

There is a bailout(rescue package out there that everyone assumes that is to bail out Wall Street and the banks, but let me ask you, if you have a problem that needs to be fixed, wouldn't you focus on the source of the problem first and then move toward fixing the whole problem? So why wouldn't it be wise to focus on the source which is the bad mortgages, if those mortgages were bought and then renegotiated down to the market value, why wouldn't that help the economic crisis? I know that the majority of the people are not in favor of this bailout(rescue) package, but it is in effect now, and I don't understand why you would think that it is ok to just bail out Wall Street and the banks with it and not the bad mortgages which is the source. By helping these bad mortgages it would most definately help keep people in their homes for one or these same people could sell their homes more easily without being upside down which would help them get out of their mortgages in a way without facing foreclosures and risking the banks to lose even more money. You don't think that this logic would help move the economy in a possitive direction? Like I said before the economic crisis and I will say it again now, if you keep focusing all of your energy saying that you should not bail out those who are not paying their mortgages while you are, then you are hurting all of America with that attitude, this is not just a few people that are not paying their mortgages this is alot of people that will effect not only them on a personal level but also our whole economic system like it already has back when everyone was telling me-not to bail out those who cannot pay-when I said we were facing an economic disaster due to the foreclosure crisis, well who's logic was corresct? I know for a fact that mine was. Watch this video, it explains a little about Fannie Mae and Freddie Mac on happened and who benefit from it.

Who caused the economic crisis


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success_89  says:
13 months ago

seems like financially, things are getting harder and harder everyday

geek1  says:
13 months ago

Hi,

As per your comment, I have posted a new hub.Read it and let me know your feedback.

Yellowburgandy  says:
10 months ago

success_89, things are most certainly getting harder but I have faith that we'll pull out of this if Washington doesn't screw things up with this non stimulus bill.

Yellowburgandy  says:
10 months ago

geek1, i'll swing by to take a look.

9i  says:
8 months ago

u980p

9i  says:
8 months ago

u980p

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