The Patriot Act
Meets the U.S.
Treasury Department:Â Emergency Economic
Stabilization Act and What It Means For Our Economy
           The Great Depression has marked one of the only periods
in American history that was one of the most extreme economic plunges, that is
until today. It is no secret to us as a country that we are in a snowballing
economic plunge as well. Stocks have
been consistently in a free fall, the house market is in shambles, and taxes
are stronger than ever on the middle class. We are starting to feel the effects
of a depression, reminiscent of the dreaded 1930’s. Americans are in a serious
need of help, especially credit-wise. We need to correct this problem because
we aren’t able to advance financially as a nation unless we have access to loans.
Loans are what enable us to buy assets such as houses, cars, to start
businesses, machinery, and all types of supplies. Without assets, we cannot go
about our daily lives, meaning we cannot live to our full potential. We need a
rejuvenation of our economy in the form of liquidation. We need to be backed up
so that life can return to normalcy. The problem at hand consists of the fact
that banks and lenders are withholding loans and money from the public because
their hands are tied with defaulted mortgages. How did all these mortgages
default at one time, one might ask? It is simple, but remarkably stupid as a
matter of fact. Lenders have been issuing what is called a subprime mortgage.
This is when a mortgage is issued to a consumer that they cannot afford, and
with a less than perfect ….
