I think we can sum up the cause of our current economic crisis in one word GREED.
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I think we can sum up the cause of our current economic crisis in one word GREED.

Things should get better by 2010 according to the OECD. Or now. See the oool graphic on GDP, unemployment and inflation forecasts.
In a striking admission, Paulson said that buying up distressed mortgage assets "is not the most effective way" to use government funding.Purchasing these so-called "toxic" assets was once the cornerstone of the rescue plan for financial markets and was almost the entire focus of Congress when the TARP package was being debated before its enactment in September. But almost as soon as Treasury received the money, it decided that giving capital to banks in return for preferred stock was a better use of the funds. Some analysts have accused Paulson of "flip-flopping" on every plan and it doesn't look like he has a plan at all.
It would be easy to lump all bankers together as greedy evildoers, but that would be wrong. According to CNN Money, there are a growing number of banks refusing to take advantage of bailout money.
An election day carnival filled with great stories on all facets of what is going on in our financial world.

During the height of the real estate bubble back in 2005, the US personal savings rate dipped into negative territory for the first time since the Great Depression. That may be beginning to change.
A world of consumption for consumption’s sake can’t feed the gluttonous stock markets forever.
America has by far the widest income distribution. The average American income is around $33,000 with the top 10% (or decile) of earners having an average $87,257 of disposable income, while those in the bottom decile have $5,819, among the very lowest of any country - which confirms America definitely has a "poor" class. Reforming wealth distribution across America is one, if not the, centre piece of Obama's policy platform whereas John McCain is calling it a move back to socialism. What do you think? America decides which path it wants to follow in less than 2 weeks.
One of the comments left on the MSN blog really got my attention. Someone named “Abe” commented that he “will vote for this guy for president” since he liked my ideas for fixing the economy. Unfortunately, I did not have the foresight to run for office this year. But still, it made me wonder how I could try to win a couple of votes.
List of 25 resources that help explain the causes of the current financial crisis, examine the effects of the flailing economy, and offer advice on how to make it through these tough times.





