Obama has a plan to give students a $4,000 credit for college in return for 100 hours of community service. I believe Pell grants will also be increased under his education investment plan.
One good thing about a severe Bear market in an election year is that most of the morons in government that allowed this mess to occur will likely be kicked to the curb very soon. We need competent/practical people who understand that lax regulation and excessive leverage in our financial system should NEVER be tolerated under any circumstances. Having people who govern blindly with ideology because they are too lazy to study the facts has cost us dearly as a nation. The conservative movement has been dealt a serious blow by allowing it to be high jacked by a bunch of right-wing extremists. Fortunately, smart regulations that are enforced for a change are on the way in addition to a Main Street “bailout” that will get our economy back on track.
I agree Python, the idiots in congress let this happen. My brush is a bit wider than yours and I include the radical left as well as the radical white.
I am voting for Obama, but I do fear the unchecked balance of power the dems will bring, especially led by Pelossi. I pray that Obama will support Middle America and not play favorite to the radical fringes.
I watched the hearing with Bernanke and Pauslon Sept 24th. Instead of solving the issue, all the senators played partisan politics and laid the blame at Paulson's and Bernanke's feet, including our national debt, which Bernanke quickly reminded them that they had Budgetary responsibility, and not the Fed.
Our whoas are a combination of over regulation and deregualtion in the wrong areas.
Sarbanes Oxley- Over regulation. This piece of legislation costs companies millions to impliment. Many companies have removed their listings from the American Stock exchanges. Mark to Market rules have initiated death spirals for companies and banks alike.
Elimination of the up tick rule- De-regulation failure. Combined with the Mark to Market rules and stocks get flushed quicker than a dead gold fish.
AIG- Never Regulated. Invented Credit default swaps, an non-asset backed security. Since it was an insurance company it did not fall under banking rules. It's failure started this.