Well where should I start, I was at school eating with a friend when CNN was on the television. The news was blaring that oil shot up $20 in one day and some estimates had it at 120 a barrel. Was this sensationalism? I think so, seeing as bloomberg has oil at 109 right now.
http://www.bloomberg.com/energy/
The dollar has lost on the Euro and is now $1.478 for 1 Euro.
http://www.bloomberg.com/markets/currencies/fxc.html
Just last week we were at $1.39 for 1 Euro.
Next we have the bailout which is worth 700 billion, where does this money come from? Who else, the tax payers. Wall Street F'ed up and we need to bail them out or else we will be screwed for their mistakes. Insurance companies, Banks, and other foundations are tanking. Why, because these SMART men and women screwed up by taking ridiculous loans and thinking that they would never get caught. Well they did and now we must bail them out, the value of the dollar is dropping because of all the printed money that is being created for this bailout.
We need to do something, the good thing is if the loan is approved, America will get ownership in these companies and start to make money off of it. Could it be a smart move, who knows. We will have to wait and see.
REGULATION REGULATION REGULATION that is what these financial people need.
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