I’ve been a Democrat all my adult life and was happy to see Obama get elected. But I am beginning to wonder, especially considering where the money is going. I sat down to dinner with a group of business leaders Tuesday night and it was not a happy discussion. The bottom line is that the money is not getting down to the people. The economy will not really revive until ordinary people have the money to buy things. Now I know that a lot of people have said this, but giving money to big banks and insurance companies is not the way to get money in the hands of consumers. Not only that, I think this new idea of allowing people to refinance their mortgage at up to 125% of the value of the house is just more of the same: the consumer falls further into debt and the banks get the money. Maybe, just maybe, Geithner is the wrong man for the job. Maybe his first priority is rebuilding the banks instead of rebuilding the economy.
What’s Up With Recovery?
July 9th, 2009 | Financial Recovery
0 comments ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment