Posts Tagged 'Economy'

Bailing out AIG… Again.

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In the wake of insurance giant AIG announcing today that they lost $61.7 billion dollars in the fourth quarter alone, the DOW closed at below 7,000 points. What I never quite got was why the government should bail them out. ABC World News reported tonight that it’s simply because AIG has so many customers worldwide: 74 million to be precise. Apparently us tax payers own 80% of the company. But, perhaps the best analogy I’ve heard yet is that AIG is like a casino. AIG took too big of a gamble on the housing market and when the bubble burst, the house lost. The company simply did not have enough money to pay out, hence the government bailout.

On a lighter note, check out the irony of this AIG advertisement from September of ’08.

Election Day 2008

Today’s the big day. Who will win the Presidential election?

John McCain and Barack Obama

John McCain and Barack Obama

A Democratic President would be ideal for me.  It is my expectation that one would be able to help the country like Bill Clinton (D), who helped lead us out of our economic woes during the 90’s. Under Clinton’s leadership, the unemployment rate dropped about half, to 4%, all thanks to the 15 million new jobs that were created, which seems to be something we desperately need now.

In today’s day and age, the national unemployment rate is at about 6% (as of September). I truly believe that in conjunction with Congressional allies, Barack Obama has the ability to parallel the efforts of the Clinton administration.

I also feel that Barack Obama will do everything in his power to do what’s best for the greater good of the American people. I take that back. I believe he will work with everyone who has power to do what’s best for Americans. He is a team player. I don’t believe that McCain is. I think McCain is money-hungry, power-hungry, and questionable in terms of his ethics. I’m big into integrity, and he has a track record of inconsistent “truths.” Go on factchecker.org to see for yourself.

One last thing. It is crucial for a person in a position of power to be able to communicate effectively, which involves being able to relate with the audience. In my opinion, McCain doesn’t seem like the kind of guy someone could go up to and confide in (a gut reaction).

With this weighing heavy on my mind, I cast my vote today in Virginia for Barack Obama. However, what’s strange is that I consider myself a Republican…

Who did you vote for and why?



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