Wall St. was out of control unregulated by the govt, by greedy executives and ignorant politicans who receive campaign contributions. An average American cant think beyond burgers and fries. It was a matter of time it had to crumble. Hope its a lesson learnt. In the end average tax payer will get the shaft.
I hope the Americans can take a break and think on how materialistic their lives were. America is indeed the virata of our mother earth. Whatever they do and think remain in the collective conscious of the world. Hence we all of us try to copy what they do.
At the trying time, they will try to find themselves and their true essence and responsibility as a Country. I trust this will be a new beginning for a New Age, where every human beings will try to rediscover their self!
Re: Great American Failure
by Duryodhan Hastinapur on Sep 30, 2008 09:26 PM
Correct!!
Fannie / Freddie got in trouble because individuals used the money that was not theirs to buy homes that they couldn’t afford.
The Government is bailing out Fannie Mae with the money that is clearly not its “own”. The reason why it has to do that is because if Freddy and Fannie file for bankruptcy millions of investors will lose their investment a majority of which may be their “own” money. Do you see the problem here?
The only solution in my opinion is to go back to old saying: “Don’t spend the money that is not yours”. This applies to individuals, corporations, Republicans, Democrats, the Congress and the White House,
"I still think, and would like to think, that America has not failed yet. It is 15 years ahead (of the world) in whatever it does. Only that gap is now reducing. America is innovative and knows how to use others."
What the heck above statment means ?? America knows how to use others....WTF..
Re: This is the signal for new india
by RS Iyer on Sep 30, 2008 07:36 PM
I think there can be no other stupid in the world like Mr Bush! He cut the tax for 8 years to stimulate growth and only see this! Don Quixote of 21st century the US should be proud of its democracy!Indian businessmen like Anil, Bharthi, Mitttal and Tatas can go for agressive purchase of US Companies! Jai hind! Vande Matharam!! Thanks RS.Iyer
