On Friday Congress voted to appropriate $700 billion to save the economy from something. We heard a lot about how main street America was going to suffer if this measure wasn't approved. Somehow, I'm not convinced. Despite the colossal blunders that bankers and financial professionals seemed to have made it seems a little fishy that the taxpayers have to come to their aid so quickly. It seems to me if the credit markets were really freezing up then interest rates would go up to attract more capital. That doesn't seem to be happening. I mean there is a lot of money out there in the world but it doesn't seem that anyone is asking investors to pitch in.
I'm sure that there are some people making lots of money off this deal.
A Photo a Day captured by Charles Rubin of Westfield New Jersey. By day he is employed at a major metropolitan newspaper. In his spare time he likes to read, bake bread, ride his bicycle, and spend time with his family. Please feel free to contact him at shaiwest@yahoo.com
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