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  Money-Business

How much faith do you have in the American financial system?

By Constance Lavender ()     Permalink
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Poll

How much faith do you have in the American financial system?

     The US Government backed a deal to bailout the investment bank Bear Stearns in March, 2008. Last week the Feds announced that the government was taking over the housing mortgage giants Freddie and Fannie Mac. Today, Sunday, September 14, 2008, Lehman Brothers Holdings, Inc., the country's fourth largest investment house, is set to go into insolvency. Merrill Lynch is said to be finalizing plans  to be bought out by Bank of America, and American International Group (AIG) announced it would re-structure on the heels of billions of dollars in losses. The fate of Washington Mutual, one of the country's largest savings & loans, is unclear. And, an emergency trading session was held in the derivatives market for two hours this Sunday afternoon, apparently closed to the public, so that institutional investors could reduce their exposure to massive losses. Given this extraordinary set of developments, how much faith do you have in the American financial system?

Alot
A little
None
Don't Know

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Constance Lavender is an HIV-Positive pseudonymous freelance e-journalist from a little isle off the coast of Jersey; New Jersey, that is...

In the Best spirit of Silence Dogood and Benj. Franklin, Ms. Lavender believes that a free (more...)
 
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