This week went by fast like usual. It seems like the older I get the faster time goes by.
All over the news there has been reports about the major financial crisis this country is facing. Washington Mutual one of the largest savings and loans banks in the US went under due to billions of dollars of bad mortgages. The federal government decided to fix the situation by selling WaMu to JP Morgan Chase. Investors are pulling their money out of private investments and and moving them to securities and loans backed by the United States Treasury. Hearing all of this on the news is frightening.
Now Congress has to come up with a plan to help save these banks and lenders before companies run out of money. What could happen if the government doesn’t do something? My conclusion from watching the news stories today is that companies could end up so far in the hole that they will not even be able to afford payroll. If this happens it will effect all of us. All the hard working Americans just trying to get by.
This whole economic situation is effecting my family as well. Our home back in Wisconsin foreclosed in April of this year. Jobless, scared and not knowing what to do my husband and I moved our family out to California where we could live in my husband’s grandmother’s tiny house rent free. His parents vowed to help us until we found jobs and got back on our feet again.
We finally found full time merchandising jobs with Crossmark in August. For what we are doing we are getting paid well. Our jobs also include medical, dental, and life insurance for us and our children. We work in Home Depot stores in the Sacramento area. Their sales determines how many hours we will work. Because of the slowing economy we were told on Wednesday that sales at the Home Depot are down and our hours will be cut. Instead of working 40 hours a week we are down to 32. I have today off. Next week we will be working four six hour shifts and one eight hour shift.
Yes we were victims of this whole as the democrats say, “crisis.” We were lied to by our mortgage lender when we bought our first house in 2002. They even encouraged us to lie about our income and employment in order to get the loan. How many other people did these mortgage companies deceive? And now the government is going to bail them out? I never asked for a hand out from the Federal Government. Maybe I should.
Read the House Republicans’ Alternative to the Wall Street Bailout
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