Contrary to Senator Shelby's statement, just about everyone I know has been affected by the stock market decline of 2008. From what I've seen, the impact also cuts across generations. Here's how it has affected those in my family:
While I agree with Senator Shelby that the stock market decline is not a good reason for a bailout, I do believe that the current financial crisis could destroy the U.S. economy. I hope Congress realizes soon that they have to act quickly to hopefully contain the damage and restore confidence in U.S. credit markets.
For more on Crossing Generations, check back every Thursday for a new segment.
This is not financial advice. Please consult a professional advisor.
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