Wednesday, October 15, 2008

U.S. Economy: Retail Sales Slide Signals Deepening Recession

Sales are slowing just as merchants prepare for the holiday selling season, on which they depend for the largest share of their revenue. San Francisco Federal Reserve President Janet Yellen said yesterday the U.S. may already be in a recession, and stocks dropped amid concern that the government's plans to inject capital into banks won't halt the economy's decline. Full Story.

Now what was it that we were told about the BailOut being necessary?


From 1989-2008, Rep. Frank has received $42,350 in campaign contributions from individuals associated with Fannie and Freddie, as well as their PACS. The top recipient during the same time frame is

Sen. Christopher Dodd (D-CT) with $165,400.

Barack Hussein Obama, who’s only been in federal office since 2005, follows Dodd with $126,349 and

John McCain is way down the list with $21,500.

As of Sept. 11, 2008, Freddie and Fannie had gifted 354 of our elected Fools with a grand total of $4,844,572.00. Is it any wonder the Fools are so willing to bail out their errant government-sponsored lending enterprises? FULL STORY.

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