September 22 - Introduction to American Government POLS 1105H The University of Georgia Prof Anthony Madonna [email protected] Polls

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Introduction to American Government September 22, 2008 POLS 1105H The University of Georgia Prof. Anthony Madonna [email protected]
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Polls CALIFORNIA (Rasmussen): Obama - 56%, McCain - 39%. COLORADO (Quinnipiac Univ/Wall Street Journal): Obama - 49%, McCain - 45%, Others - 1%. COLORADO (PPP-D): Obama - 51%, McCain - 44%. FLORIDA (NBC News/Mason-Dixon): Obama - 47%, McCain - 45%. KANSAS (Rasmussen): McCain - 58%, Obama - 38%. KENTUCKY (SurveyUSA): McCain - 57%, Obama - 38%.
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Polls MICHIGAN (Quinnipiac Univ/Wall Street Journal): Obama - 48%, McCain - 44%, Others - 1%. MICHIGAN (Inside Michigan Politics/MRG): McCain - 46%, Obama - 43%, Others - 5%. MINNESOTA (Quinnipiac Univ/Wall Street Journal): Obama - 47%, McCain - 45%, Others - 2%. OHIO (Insider Advantage): Obama - 46%, McCain - 46%. WASHINGTON (SurveyUSA): Obama - 54%, McCain - 43%, Others - 2%. WISCONSIN (Quinnipiac Univ/Wall Street Journal): Obama - 49%, McCain - 42%, Others - 1%.
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2008 Senate COLORADO (Quinnipiac Univ/Wall Street Journal): Congressman Mark Udall (D) - 48%, former Congressman Bob Schaffer (R) - 40%, Other - 1%. KANSAS (Rasmussen): US Senator Pat Roberts (R) - 58%, former Congressman Jim Slattery (D) - 38%. KENTUCKY (Research 2000): US Senator Mitch McConnell (R) - 49%, businessman Bruce Lunsford (D) - 46%. MINNESOTA (Quinnipiac Univ/Wall Street Journal): US Senator Norm Coleman (R) - 49%, humorist Al Franken (D) - 42%, Other - 3%.
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The Bailout Financial firms like Fannie Mae, Freddy Mac, Lehman Brothers and AIG were making risky investments. Specifically, they giving mortgages to individuals/groups that could not pay them. Investor confidence in these firms waivered, stock prices plummeted, putting them “at risk.” Normally, the federal government would not intervene and the groups would seek “private market” solutions.
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The Bailout At an aggregate level, this leaves companies with a shortage of funds, resulting in layoffs, bankruptcies, more foreclosures, etc… The solution is this 700 billion dollar federal “bailout” of firms. What are the pro’s and cons of this? There were no private market solutions to be found (or minimal). The government fears the collapse of these firms will continue to drain investor confidence (and money) from the market.
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The Bailout - Positives The Paulson plan calls for minimal oversight from Congress and the Courts – which decreasing transaction costs and allows swift government intervention. Stocks jumped as the bailout plan was proposed. A quick reaction by the federal government to this crisis may help avert problems stemming from investor confidence.
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The Bailout - Negatives Limited oversight – what if Paulson screws up? What does this do to the “free” market? Rewards firms for being risky. Do taxpayers benefit? Preserves executive “golden
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This note was uploaded on 09/08/2011 for the course POLS 1105H taught by Professor Schatzinger during the Fall '07 term at University of Georgia Athens.

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September 22 - Introduction to American Government POLS 1105H The University of Georgia Prof Anthony Madonna [email protected] Polls

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