That is completely untrue, world poverty is increasing not decreasing. Global issues.com goes through the figures very thoroughly.
On Sep 9, 8:16 am, Gaar <[EMAIL PROTECTED]> wrote: > Let us not forget... > > Those people you tout as living off of only $2 a day used to be living > off just $1, not too long ago. > > On Sep 8, 3:11 pm, Frank <[EMAIL PROTECTED]> wrote: > > > The financial crisis in the US cannot be laid at the feet of the > > Republicans. The decision to go to war, a big drain on the US, was > > backed by the Democrats as well, while the melt down of the financial > > sector is a worldwide phenomenon, of which the sub-prime loans are but > > an extreme expression > > > All the major industrialized nations are in the same position: record > > government and personnel debt, job losses, the slashing of wages and > > conditions and the destruction of the manufacturing sector that has > > moved offshore in search of cheap labor. > > > The build up of debt commenced in the 80’s, by the 2003 the US made > > the decision to go to war to secure the resources of the Middle East > > to offset the financial slide. The Bush administration is responsible > > for heinous crimes against humanity, but they are not responsible for > > a systematic global financial meltdown (although they are doing > > nothing to help those most in need). > > > On Sep 9, 7:29 am, VT Sean Lewis <[EMAIL PROTECTED]> wrote: > > > > Republicans and McCain if things are going so well, > > > why the $5 Trillion Freddie Mac and Fannie Mae Bailout? > > > > The tax cuts should have gone to the middle class, > > > not the richest Americans. It is very clear that trickle down > > > did not work. > > > > It is very clear it is the American middle class who need the > > > help. > > > > It is very clear that after 6 years of the Bush Tax cuts the > > > 11 Million jobs and the prosperity Bush Promised these tax > > > cuts would bring never happened. > > > > The bottom line is that the Americans who will have to PAY > > > for this bailout will be the MIDDLE CLASS, because the > > > Republicans want to make the Tax Cuts to the Rich Permanent. > > > > Is this the change McCain talks about, because he supports > > > the Bush Tax cuts. > > > > Fannie, Freddie deal helps some borrowers, not all By J.W. > > > ELPHINSTONE, AP Business Writer > > > Mon Sep 8, 1:27 PM ET > > > > The government's historic bailout of Fannie Mae and Freddie Mac on > > > Sunday will be good news to homebuyers and some homeowners hoping to > > > refinance if it leads to lower mortgage rates, as experts expect. > > > > But for homeowners already behind on their mortgage payments, or who > > > owe more than their homes are now worth, the plan unveiled Sunday by > > > Treasury Secretary Henry Paulson offers little in the way of extra > > > relief. > > > > "The bailout will give the mortgage industry a stability that we > > > haven't had in a couple of years," said Rich Cosner, president of > > > Prudential California Realty. "But frankly no, it won't help > > > (struggling borrowers) to refinance." > > > > Fannie Mae and Freddie Mac play a critical and increasingly dominant > > > role in the mortgage market. The companies buy mortgage loans from > > > banks and package those loans into securities that they either hold or > > > sell to U.S. and foreign investors. That allows traditional lenders > > > like Bank of America, Wells Fargo and Washington Mutual to make more > > > loans. > > > > Together, Fannie and Freddie own or guarantee about $5 trillion in > > > home loans, about half the nation's total. But an alarming number of > > > those loans started going into default, draining the companies' > > > financial reserves and sending a chill through credit markets > > > worldwide. As investors grew more skittish, borrowing costs started > > > rising. > > > > By placing Fannie and Freddie into a conservatorship, the government > > > is promising investors that the companies' debt is as safe as the > > > Treasury Department's. > > > > While not a cure-all, the bailout is still a step in the right > > > direction, industry observers say. It will at least "keep the lanes in > > > the mortgage freeway open," said Greg McBride, a senior financial > > > analyst at Bankrate.com, possibly putting the market on the road to > > > recovery. > > > > If mortgage rates fall, that will attract more potential buyers into > > > the market, which, in turn, will help to prop up home prices, he said.- > > > Hide quoted text - > > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
