GROWING ECONOMIC CRISIS FACING AMERICANS

By Frosty Wooldridge
July 24, 2008
NewsWithViews.com

Not enough lipstick on this pig!

Can you define inept? How about incompetent? Ever hear of the word bungling? What about The Peter Principle? Try this on for size: systemic corruption?

Does Fannie Mae or Freddie Mac hit a nervous cord? What if you stored your money at IndyMac Bank?

Last week, a plunging stock market, bank failure, thousands of mortgage foreclosures and accelerating job losses at United Air Lines as well as Ford and GM—set Americans on edge.

“The centerpiece of the administration’s efforts was Treasury Secretary Hank Paulson’s plan to shore up Fannie Mae and Freddie Mac that together guarantee $5 trillion of mortgage debt, which investors fear could collapse because of bad home loans and diving housing prices,â€