In regards to "Private Equity Politics", who is to blame? Where do you point your finger first? I viewed the video by Kudlow & Company that involved the economic crisis in regards to lenders and borrowers. This video involved 3 very outspoken commentators who were trying to out talk each other. They were very adamant in their beliefs about this subject. They seemed to already have the "right answers" and were closed minded to anyone else's opinions. One of the commentators thought it was the borrower's fault for loans defaulting, He said that borrowers lied on their applications. I find this hard to believe due to the fact that the loan application I recently filled out left no room for falsifications. On the other hand, if the financial institutions do no follow up and check out the references and credit checks on the borrowers, then it would be the negligence of the staff of the lending institutions.
The commentators were questioning Senator John McCain's support of President Bush's tax cuts and his attacks on Wall Street. In my opinion, John McCain's views seem to change frequently. These days, his views seem to be swayed by the popular opinion to gain him political advantage for the presidential race. I'm not very familiar with the economic practices of Wall Street or the stock market in general. I find this to be very confusing. The commentators didn't really explain themselves in the repetitive comments about McCain's attacks on Wall Street.
There are so many news stations supporting this type of programming with so many different opinions . Is it any wonder why the average citizen is completely confused about what is actually going on with the economic situation. Who do we believe? Are these programs geared to scare everyone, or is it propaganda by the media?
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2 comments:
Bravo! I thoroughly enjoyed your comments on the propaganda and misleading programs that are being aired on the major news networks. I am completely in the same boat as you on my fellings. Who do you blame? Who do you trust? OUr country is in such an economic crisis and all you hear is someone trying to pass the blame to someone else.
Jamie Hunt
I did research on the whole buyout and can't imagine why that many people would lie on their applications. I'm not saying it isn't possible a few did but that many no. I think Jamie said it best by each of them passing on the blame to others and no one owes up to it. Including the CEO's who took millions that ran Freddie Mack etc.
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