Wow. Government Intervention.
So, the government is really getting involved to try to avoid a (more severe) recession. Why is this news? Well “conservative” also known as Republican governments, are usually AGAINST big government- in other words, against the government getting TOO involved in private business. But …. lately the Bush administration and Congress are working to try to stabilize our economy by stepping in with the mortgage industry (Freddy Mac, Fannie Mae) and now the investment banking industry too (Morgan Stanley, Goldman Sachs).
The good news is the government is getting involved and trying to stabilize a few utterly *flailing* industries. The bad news is that it’s the taxpayers who pick up the check.
Call us naive, but we can’t help but wonder: Why can’t all these high paid executives at all of these companies simply do their jobs, and avoid this kind of thing to begin with? *Le sigh.*
3 years ago