By, Amy Nightingale
While Sarah Palin was at a conference in Hong Kong, she gave a speech where she spoke about her thoughts on the causes behind the current financial crisis to a group of executives and bankers. She said, “ We got into this mess because of government interference in the first place. We’re not interested in government fixes, we’re interested in freedom.”
Palin attacked the Federal Reserve’s low interest rates as the main reason why the U.S. is in its current financial position. She feels that the low rates caused people to buy homes, which they were unable to afford. Sarah Palin was speaking against the Obama administration, and wasn’t taking into account the progresss that they have made.
Obama spoke this week at this year’s Group of 20 Summit. The Pittsburgh Summit is a conference where leaders can meet to discuss the hard work that the government has done in confronting the global economic crisis. At the summit, the leaders will be attempting to create an exit strategy for the programs that were necessary in the financial crisis which have resulted in additional government debt.
References:
http://edition.cnn.com/2009/WORLD/americas/09/23/economic.summit/
http://www.americanbankingnews.com/2009/09/23/sarah-palin-government-cause-of-financial-crisis/
http://topics.nytimes.com/top/reference/timestopics/organizations/g/group_of_20/index.html?scp=1-spot&sq=group%20of%2020&st=cse
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