Economic Decline

Economic Decline - Joshua Sipe Current Topic Speech-Harry...

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Unformatted text preview: Joshua Sipe Current Topic Speech-Harry Truman is quoted “It’s a repression when your neighbor loses his job, it’s a depression when you lose yours”- With the recent economic tragedies reigning over the United States is America entering a depression or just hitting a bump in the road. 1. AIG insurance operates in 130 countries providing insurance to both commercial and individuals 2. The federal reserve announced Tuesday that it will be providing 85 billion dollar emergency loan to the foundering insurance company to bail them out of financial bank ruptcy 3. In exchange for this massive loan the government will be receiving a 76.9 percent equity interest in AIG- AIG insurance isn’t the only part of our economy that is failing, F reddie Mac and Fannie Mae came within pennies of filing bankruptcy 1. Fannie Mae and Freddie Mac the brother and sister of mortgage companies make up about half of the united states total dept or approximately 5.4 t rillion dollars consisting primarily of mortgages, approximately 5....
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Economic Decline - Joshua Sipe Current Topic Speech-Harry...

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