October 13th, 2008
10:25 PM ET

History can get us out of this mess

Fortune's Andy Serwer says the FDR administration's actions can show officials how to handle the current economic crisis.

Filed under: 360° Radar • Andy Serwer • Bailout Turmoil • Economy • T1
soundoff (5 Responses)
  1. Richard Kennedy

    As Nancy Pelosi suggest a second financial suport plan of +/- $1 trillion USD is not out of the question, we need to stand behind our American investors, banks and finacial institutions if we (Americans) are to continue being the number one economic global leader, timing is everything during this financial crises.

    Richard Kennedy
    Kalispell, MT

    October 14, 2008 at 7:14 am |
  2. faith e brooks

    some economic /financial experts are saying that FDR's interventions prolonged the depression. there are so many expert opinions you should almost ask " which one slept in a holiday inn last night,"

    October 14, 2008 at 3:48 am |
  3. ralph

    Today McCain brought up Hoover. Something about increasing taxes before the great depression. What he did not bring up was Tax Cuts for the rich which where also given to prevent depression. Tax cuts and trickle down economics have never worked to increase revenue just national debt. Foreign banks now own more of the private stock at the federal reserve than US banks do. Just a guess but todays activity is related to foreign influence on our fed. I have a question about fed. Have they done the interest indexing for this year or should we really hold on to our hats.

    October 14, 2008 at 2:12 am |
  4. Jim

    The current financial crisis seems to have been caused in large part by risky loans and by many people making very bad decisions, many of them knowingly. Yet, American taxpayers are now shouldering the debt of not only bailing out Wall Street, but the embarassment of seeing our system collapse and other countries follow. I wonder what kind of response our presidential candidates would get if we added into our bailout plan requirements that those who made unwise decisions pay us back, in full, with interest. It's hard to tell my kids they must always beware of consequence, yet we are now seeing a bailout of historic proportions because of the unwise decisions of a few.

    October 14, 2008 at 12:02 am |
  5. mindcraft

    I have heard every network talking about either the consumers who invested in these derivative instruments derived from sub-prime mortgages and the investment bankers who sold them. How come nobody has targeted the credit rating agencies that gave these instruments AAA and A+ ratings? Weren' t these so called credit rating agencies supposed to rate these instruments for what they were worth?

    October 13, 2008 at 11:48 pm |