Tuesday, May 19, 2009

America.. under recession..

Yes..its big time recession for USA and rest of the world..It is malignant ...big time issue.I have seen USA falling like a pack of cards one by one.Good God gracious ,never can believe my eyes..like 9/11 incident, I saw in front of the television..major set back..
The recession factor started with fraudulent transactions on higher level...at one point,there was loan available to everyone.no matter what credit history was or how big the pay check was... bribery at higher level.. its was total debt ... banks came tumbling down, houses.. mortgages were not paid ..with the result ..it was taken by banks.. banks with lot of debt filed bankruptcy and ..then came into the picture major companies and their bankruptcy..
Giants like Benz people ,Chrysler filed bankruptcy..General motors share came down ,ford in shambles.. people loosing jobs.. houses r not selling ..people going back to India.. almost 100000..people has gone back home... its pathetic..
"God Bless America"

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