Oct 04 2008
Bailouts and Great Depressions
Yesterday our country took a tragic turn. No one can pretend to know just how devastating the effects will be but we do know it will be far reaching and tragic. Did you know this bill gives permission to a judge, sitting in a courtroom, to change the interest rate on a home. Did you know a judge sitting in a courtroom can now change the amount of principle owed on a home? That’s right. If one buys a home for $100,000 at 7%, the judge can say no it will be $30,000 at 2% - and the seller will just have to eat the loss.
This past week our lawmakers wiped their fat rear-ends with our Constitution. A pox on all their houses that voted in favor of this bill. I will be working hard to get rid of those that voted in favor of the destruction of the greatest nation on the face of this earth.
As we continue viewing “Free to Choose” with Milton Freidman today we tackle “Anatomy of a crisis,” which is fitting as it discusses the Great Depression and stock market crash.
Note to my readers:
I began posting the 1990 updated version of “Free to Choose.” Beginning with this episode we are back to 1980 as the rest of the updated series is not yet available online. There are 6 episodes left.
