Paul Krugman a writer of the The New York Times writes an article "Revenge of the Glut." He argues in his article that the sub prime crisis, housing loans are not the only problem or cause of Americas deficit, and the constant down spiral we are facing today. This article appears to reach out to all Americans and possibly those around the world. He informs us of a message that Mr. Bernanke stated that possibly was the warning that all ignored, "The causes, lay not in America but Asia."
Although all the warnings and red lights were going off the American CEO Investment Bankers, Wall street did not get it right. Paul Krugman illustrates that the Asians took foreign assets and exported capital to the rest of the world, which the value of their money was cheap. He tells us also that the majority of the cheap money came to America. I am truly glad that the government is trying to regulate how our markets are running with little input. Investors for years have been hiding risk and fooling their own investors allowing the American free opportunity and Dreams die because of greed it really does not make any sense.
For instance, the owner of Sanford Bank who was apprehended because of fraudulent hidden risk stocks took from his investors and somehow all the media and republican brings forth in discussion is the Fannie and Freddie is the cause, but somehow I beg the differ the rich and the greedy cause this crisis upon the American Dream. The question is for me is how the government will handle those who took and hid. I have a problem with standards of our law; For instance, a man Micheal Vick dog killer, fighter ;whatever, goes to prison for 23 years and yet those who have done America a great disservice of being greedy and careless, which cause our present decline. They walk around and fly in jets as if they do no wrong or did no wrong: shame on them. Moreover, the article is informing audience of the main cause and warning that it could happen again because being greedy is always apart of prosperity, "ME MYSELF and I."
