The present world economic

Daily Star

Home About Us Advertise Archives Forum Classifieds ePaper Live TV
Contact us

Search

Daily Star Sections
Middle East

Lebanon

Middle East News
Politics

Business

Editorial

Opinion

News in Brief Published on 21/02/2009
Readers' Letters and Opinions

When taxpayers gave Bank of America Corporation a $45 billion
bailout, the company was supposed to use the funds to help jumpstart
the economy. To date, this has not been the case. Instead the bank
has misspent on executive salaries and corporate jets. Then Bank of
America took even more money from cash-strapped states by not paying
for workers' healthcare. You can see the signs of it in the media and
the newspaper all the time. Of course, most of the time only educated
economists can interpret that financial mumbo-jumbo, but everybody
can understand that the real causes of the present world economic
crisis are greed and selfishness. And it's about to bring the world
to absolute depression and chaos. It's just plain greed and
selfishness as a result, their industries will fail, factories will
close, unemployment will rise, and the next Great Depression will
have started. The crash is going to happen.
That is certain! The chain reaction has begun, and though it may take
a few months for the world economy to completely hit the bottom, it
will surely happen!

Ted Rudow III, MA
Menlo Park, United States
----------------------------------------------------------
------------------------
The International Herald Tribune and The Daily Star are available
every morning in: Lebanon, Syria, Jordan, Egypt, Qatar, Kuwait,
United Arab Emirates, Saudi Arabia, Bahrain, Oman