Share
July 17 04:12 AM
Email/Username:
Password:
arrow Back

Little hope for the desperate


Dear Editor,

What caused the Wall Street meltdown? Was it really Joe Sixpack and his stupid, thoughtless, poor judgment?

A few years ago, poor homeowners elected to re-mortgage using ARMs because it gave them temporary relief from the festering conditions of low wages, high interest rates and a soaring cost of living. They were grasping at straws to float their financial heads above water.

They didn't exercise poor judgment back then. They exercised the only option available to them that might postpone the inevitable, brought on by a decaying economy beyond their control.

Back then, they were in the same position as they're in today ... financially desperate with little hope for the future. Even with this month's infamous bailout, nothing has changed.

Except that the inevitable is today.

Jay Z. Dasa, Attica
October 15, 2008

Castle Creek
Letter Search
spacer
Tuesday
07 - 17 - 18
04:12
Site Search


July
arrow
S M T W T F S
1234567
891011121314
15161718192021
22232425262728
293031
Thanks for visiting Tri City Times
Chemical Bank