Recently in Economy Category

While talking about deficit spending as a cause of the current financial meltdown, it would inform your viewers to acknowledge that it's cause was deficit spending to support neo conservative agendas: 1) tax cuts without reducing expenditures almost entirely attributable to the Reagan and Bush II administrations; 2) the belief that government is incompetent to address ANY problems and should be bankrupted to prevent "interference" with market forces.

Billions of dollars for bailouts...Billions with a "B". It's the lead story on every newscast. I think we've lost sight of how much money $1,000,000,000 really is! We were told that the bailouts were necessary to preserve our economic system. They said we needed to "sure up" the banking industry to prevent a collapse. Then we needed to save AIG...and a few weeks later, lo and behold, AIG needed to be saved again. Now we are considering bailing out the auto industry. Who's next? Exxon/Mobil because the barrel price of oil has dropped so low?

This is an open letter to all the tax paying residents of Eastern School District. On Dec. 4 the school board will vote on spending AT LEAST $650,000 for artificial turf on the HS football field. The administration also recommends that the board approve Resolution #110108 that indicates they will not raise our taxes MORE than 5.3% in the next school year.

My question is this. Isn't the school board aware of our current economic spiral? Aren't they aware that a lot of households in their school district are having to cut expenditures everywhere they can just to maintain their own food and housing needs? They promise not to raise our taxes more than 5.3% in the next year? I am outraged!

The Chamber of Commerce and the Associated Builders and Contractors are against the Employee Free Choice Act because the laws have been in their favor for the last 25 years. The following facts represent how the Act will bring the favor back for the middle class employees:

1. The Employee Free Choice Act would give workers a fair chance to form unions to improve their lives.

2. Research shows nearly 60 million American Workers would form a union immediately if given the chance. Too few ever get that chance because employers routinely block employee efforts to form unions and our current legal system is too broken to stop them. As many as one-quarter of employers illegally fire workers who try to form unions.

Who is a family caregiver? Who is providing 306 billion dollars of "free" caregiving services to support our healthcare system? "Family" caregivers are those individuals who provide care to a loved one who is chronically ill or disabled. "Family" is meant to be close friends, neighbors and partners, anyone who has an emotional attachment to the care recipient and who acts like family.

National Family Caregivers Month observed every November is a nationally recognized month that seeks to draw attention to the many challenges facing family caregivers, advocate for stronger public policy to address family caregiving issues, and raise awareness about community programs that support family caregivers. NFC Month is a time to thank, support, educate, and advocate for the family caregivers across the country.

Professor Avillo says "change the failed leadership in Washington". I agree. Get rid of Pelosi and the Democrats who have controlled Congress the last two years. They promised to control gas prices. Did they? In 2005 Congress held hearings on Fannie Mae and Freddie Mac. Democrats praised and defended Frank Raines' leadership of Fannie. Raines made $90 million in his six years at Fannie. He also was responsible for widespread corruption (Enron anyone?) so he could make big bonuses. He made it easy for those with poor credit or high ratios to obtain mortgages. Raines also used his influence with other financial institutions, i.e.Bear Stearns, to follow suit. When gas prices rose precipitously because Democrats opposed drilling for oil, these home owners could not afford both and lost their homes. Republicans in the hearing warned that Fanine and Freddie were in trouble. The Bush administration and John McCain proposed corrective legislation. But the Democrats ignored because they were being paid off by Raines and his cronies. Obama received over $125,000. I am a victim of Democrat incompetence and greed. I lost my job. Professor Avillo, offer root causes, not Republican-bashing talking points. You expect more from your students. Change? Yes! Democrats out!

David M. Krebs
York

It seems strange to me that the financial institutions have millions for bonuses but nothing for bad debt provisions. I think the financial institutions should be required to take the bonus money and use it toward there own bailout. At the least they should have some skin in the game. I like the idea of either buying their stock and getting some potential gain or having them buy insurance so they can cover their bad mortagages.

Don't reward those who got us in this mess!

Charles Hoffman
Springettsbury Township

It was a dark day in our history when the House on Monday voted against the joint Administration and congressional effort to stabilize the financial markets, and there will be far darker days ahead if the Congress fails to approve the proposed $700 billion package.

The confidence of credit markets around the globe has been severely shaken by investments in mortgages that were made in the U.S. at the height of the housing boom and have since gone bad. The rescue plan would allow the Treasury Department to buy those trouble assets. This would help restore the credit that consumers and small businesses need, and it would end the dangerous downward spiral of falling home prices and rising foreclosures at the center of today's crisis.

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As a senior at the Wharton School of Business, I am appalled by Congressman Platts failure to explain the link between Wall Street, the Credit Markets, and the economic impact to the 19th District, in his statement regarding his decision to vote against the $700 bn proposal by Secretary Paulson. He speaks of "putting American taxpayers on the hook" for "reckless action" by Wall Street. Having interned there, I can tell you that Wall Street is not always its own best regulator. However, having studied finance for over 3 years now, I am more appalled at Platts' own "reckless" decision to put the real economy at risk.

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In my opinion, the congress should have voted for this bill. Why? Because, this was not a bail out for the wall street, but rather the main street. Off course, the problem is created by the wall street as the current administration did not keep eye on the wall street greed and republican leadership always pushing for deregulation - hands off policy on industries. This is what we get by deregulating! The bail out is misinterpreted and sold to congress and public as bailing out for the wall street.

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