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Wall Street vs Main Street
jasonkelly
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10-21-2009 4:34 AM
21 views
tags:
economy
,
politics
,
investing
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/83e3461a-35da-4dc8-9201-5b443271b68c/86CA1DBD-664F-4742-8C0F-B6B4143DB6C9/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2009/10/16/opinion/16fri1.html?_r=2&ref=opinion#" href="http://www.nytimes.com/2009/10/16/opinion/16fri1.html?_r=2&ref=opinion#" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/16/opinion/16fri1.html?_r=2&ref=opinion#"><P>The chasm between the Dow’s stellar performance and the dismal state of the American economy is of historic proportions. The unemployment rate is now at 9.8 percent. Employment as a share of the population is at its lowest level since January 1984. State governments are teetering near bankruptcy. Solvent businesses are seeing their credit lines cut or canceled. Consumer and mortgage lending are both down, while foreclosure filings rose to a record in the third quarter. </P><P>And more than a year after the collapse of Lehman Brothers sent the financial system and the economy into a tailspin, the Obama administration and Congress have yet to make the promised financial reforms that are essential to ensure that it all doesn’t happen again. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/16/opinion/16fri1.html?_r=2&ref=opinion#">Every week that banks refrain from lending — trading their way to a profit while they clean out bad loans from their portfolios — is a lost week to the recovery.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/86CA1DBD-664F-4742-8C0F-B6B4143DB6C9/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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