We all know times have been hard for the entire nation, not only for Wall Street, but for every day people. According to an article from Time Magazine, who interviewed people from all over American, the general consensus is that they have all had to cut back on spending. Many are not going out to eat as much or they are shopping less. But really, I think we had all gotten too comfortable with doing as we please, with no concern for our future and our money. The unemployment rate was at an all time low, and the Dow Jones Industrial was at an all time high, so times must have been pretty good. BUT, things were too good, we all should have suspected something would go wrong.
Now, a loan is almost impossible to get, even for those who have perfect credit. There are high hopes that the bailout plan will work, but many are waiting to make big purchases until after the election. Because, things can always get worse... There are many speculations as to how this all happened, but regardless of how it began, we need to end it, and make sure America never has to face this financial crisis again.
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