Recently, President Barack Obama held his first news conference since taking office this past Janurary. The conference discussed the issues of the economic crisis, the worst financial crisis since the Great Depression. Obama claims to have a solution to the problem as his administration have prepared a rescue plan for the middle class. The U.S Govt. also extended a helping hand with 13 banks being spoon fed money to keep the currency flowing in the nation. This act will extend through Oct 30 and help look to help straightn the crooked society that we live in. Many other plans are being put into affect to help with people getting loans, jobs, houses, and any other aid that's needed to help you live an atleast decent life.
Other countries that will be included in this bail out plan would include countries such as Australia, Brazil, Canada, Denmark, England, the euro zone, South Korea, Mexico, New Zealand, Norway, Singapore, Sweden and Switzerland. Japan is thinkin about joining the extension but their answer wont be finalized until their next policy meeting.
Tuesday, February 3, 2009
Thursday, January 22, 2009
The Color Of Money
Whats the true color of money. Is it really green? Is it light gray. How about black or white? No matter what the currancy is, all money is the same color but not for the same people. In a study of the Atlanta banks starting back in 1981, many blacks was experiencing that money had a face and it didnt resemble them. The middle class to upper class werent able to get loans as easy a white people. While a lower class black citizen wasnt eligble to recieve a loan, the lower class white person was recieving more loans than the eligble black people. Banks were favoring white areas by a 5-1 margin. It wasnt about home value nor household income but by the color of your skin determines the crediblity of your loan.
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