Thursday, September 4, 2008

USA credit crisis deepening

due to years of harmful monetary practices, and the FDIC lacks the funds to bail out all the "problem institutions"; but since the Federal Reserve seems intent on "bailing out" those institutions, this nation's taxpayers will be forced to pay. I have been receiving emails from Money Morning (, and its editor addresses this issue in the 2008-09-04 report. However, you can go to the news/statements sections of the FDIC and the Federal Reserve. Also, there is information from numerous sources posted on or near August 27, 2008. You can draw your own conclusions, but unless easy credit thinking is curtailed and saving becomes the preferred goal--baby, it's down, down. Rho00170

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