This is a year of economic downturn and its reflected in the number of companies that have been going under.
Freddie and Fannie Mae were in the news for a long long time and eventually the Federal govt took over by providing a life line.
Bear Sterns got brought over. Indy Mac failed and got over by another bank.
Now Merril Lynch and Lehman Brothers are on the selling block. In fact Bank of America has already acted and brought one of these for basement bargain prices.
What does all this harbinger for United States economy? An economy which is the most powerful in the world and the biggest of all. Its many times over its nearest competitor.
Where does the future lie? Are more banks going to fail and people might end up losing money? Where will all this finally stop.
Lets not even bring the repercussions this will have on the global markets. A lot of people’s incomes and savings will be wiped out.
How do you see this panning out in the next few weeks/months/years/decades.
Also, which political candidate is better equipped to handle this economic downturn. Will Obama lead us out of this quagmire or is John McCain the right man for the job.