The economic crisis we are facing has many ugly side effects, unemployment, foreclosure, recession, etc. The people of the state of Mississippi are facing the unemployment rate of 9.2% and the likelihood of it going higher, loss of state revenue that could cause state cuts in much needed programs. The stim package is coming, but I do not think it will be near enough to help us out of our dilemma.
But as Americans we need someone to blame and as Mississippians we definitely need to know who is to blame. So if you are struggling with the economy, or unemployed or facing foreclosure and your 401k is just about worthless, there are some from Mississippi that are to blame.
Back in 2000 the US Congress passed the Financial Sercvices Modernization Act which basically deregulated the banking industry, which made room for hedge funds and corporations that got too big to fail and in turn set the economy up for the crap we are now experiencing.
Of Mississippi’s congress people who voted for the Act…..both Senators Lott and Cchran and the now senator Pickering voted to deregulate the banks so they could screw the economy. Rep. Taylor was the only Mississippian to vote NO on the act.
So you really want someone to blame? The remaining culprits of Pickering and Cochran are still playing games with the lives of Mississippians…will you hold them responsible?