Corporate Greed and the fall of Our Economy

Today our economy is in a tail spin among greed from such corporate giants as Enron, WorldCom, and the nonsense bring from our leading institutions such as Fannie Mae, and Freddie macintosh. Our country has lost nap of what the American dream was based on. We have allowed a elect few to over spend rip us sour as a nation break our banks, and then get us to bail them out on the backs of the tax payer.

coitus passed a $700 billion rescue bill early this socio-economic class Part of a sweeping $1 trillion giving medication plan to calm the stock market and unfreeze computer address ? the unprecedented rescue came amid mounting fears of a deep recession. The governments efforts include the federal takeover of mortgage giants Fannie Mae and Freddie Mac, which together hold or guarantee $5.4 trillion in mortgage loans ? 45 per centum of the national total. The quasi-governmental firms were dragged down by investments in subprime mortgages and other noxious financial instruments. Meanwhile, even as the Bush administration and congressional leaders were calling the bailout plan vital, fundamental questions were being raised, including: Is the bailout large-mouthed enough?



And did risky lending by Fannie and Freddie and poor regulative oversight fuel the crisis, not only did Fannie Mae along with Freddie Mac put the proverbial icing on the cake, but the depress of our economy collapse began with two even bigger corporations: Enron and WorldCom.

laborer Welch was CEO of General Electric from 1981 to 2001 he wrote the book ?not Every Business Is an Enron.? Welch, stated ?Criminal wrongdoing on the part of a few executives has led to a general loss of morale and confidence in the American origin community. ?Enron bought the shares of National Westminster Bank (NatWest) in a limited federation with Credit Suisse...

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