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Where is George Bailey when you need him?

Wednesday, January 16, 2008

Oh dear readers,
I wish I had some good news to share for the New Year!
Citi Group, Wachovia, and other financial institutions are announcing HUGE loses because of the credit market.
Angelo Mozilo is getting a exit package over 110MUSD from the sell off of Country Wide.
Imagine how many homes could be saved with 110MUSD! Instead Mr. Mozilo is going to Aruba and work on his tan!
This is just one CEO! Google "CEO Exit Packages Credit Crunch" and I am sure you will find a few more CEOs!
If we were in Bedford Falls, would George Bailey take an exit package? I think not!
We are in a serious economic crisis and I am hearing people talking about their pain on a daily basis!
Good people with good values trying to do the right things in life are not able to survive!
A recent survey from CNBC showed the top four issues in the U.S.
1. Housing Market
2. Oil/Gas
3. Credit Market
4. Rising Costs

And lets not forget the Federal Reserve Bank.. Mr. Bernanke did not create this mess, but he did take the job of being the Chairman. So, lets act like the leader of the strongest banking system in the world!!!!!
Work with the banks in establishing a stable lending program with commercial banks to help people in the housing market. This is more than a housing market problem. When people lose their homes, they lose a lot more. Families get destroyed!!!! You do not need to be an economist or review historical data to understand the impact of a family losing their home. Imagine losing your home. People must feel like they failed, loss of pride and loss of dignity. The situation is beyond the housing market! The situation effects everyone's community!
All this talk about inflation, recession and stagflation are outcomes of bad decisions.
The Fed needs to step up and take action and make the decisions that will stabilize the housing market... Not because it will help the commercial banks! Because it will help the American People who have worked towards a better life!

My question to the CEOs of America (especially the commercial banks), Mr. Bernanke, Congress, and the President, "what would George Bailey do?" As times passes on, more American families are falling apart!!!!!

To my readers, It's a Wonderful Life is a fantastic movie that reminds us the important things in life!!!!!!!







Economic Stimulus Package Gains Traction in Congress - Economy * US * News * Story - CNBC.com

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