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Ask the Expert

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Don't help Wall Street good-ole-boys

Posted: November 1, 2008 3:27 p.m.
Updated: January 3, 2009 5:00 a.m.
 

As candidate for the 25th Congressional District seat this Tuesday, I have long stated that the hands-off economic policies of congressional representatives like Howard “Buck” McKeon are breaking our nation.

The Federal Reserve agreed to provide $30 billion each to the central banks of Brazil, Mexico, South Korea and Singapore, expanding its effort to unfreeze money markets to emerging nations for the first time.

The Fed set up “liquidity swap facilities with the central banks of these four large foreign banks,” the central bank said in a statement.

Fed Chairman Ben S. Bernanke claims he is trying to prevent the global credit crisis from upending the financial markets and economies of developing countries, where currencies have plunged and government bond premiums have soared.

What in the heck is going on? Why aren’t Americans getting the same deal?

It’s our economy that needs to be helped, not the favorite drinking holes of the Wall Street good-ole-boys.

We need accountability. We need regulations that put Americans first and the rest of the world later. We need change in leadership, not more of the same do-nothing Buck.

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