Tue, Dec 02 2008
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Published September 22, 2008 11:57 am - Question of the Week: Are you worried about the financial crisis? By DUANE NOLLEN The Oskaloosa Herald OSKALOOSA — A majority of people who answered this past week’s Question of the Week: Is the news media treating Sarah Palin unfairly? answered YES. Forty — 62.50 percent — answered YES while 24 — 37.50 percent — said NO. The Question of the Week poll is not scientific and only reflects the opinions of those Internet users who have chosen to participate. The Question of the Week is just another way the Herald’s readers can voice their opinions about issues that affect them. This week’s Question of the Week deals with the financial crisis that has Wall Street under siege. Financial institutions such as Bear Stearns, Lehman Brothers and AIG have been on the ropes; the Stock Market took a huge hit recently. The root of all evil can be traced to lax lending for home mortgages — especially subprime loans given to borrowers with less than sterling credit — during the housing boom. People were expecting home prices to keep rising, but the housing market went bust and prices dropped like a rock. Foreclosures spiked, the Associated Press reports. Friday, President Bush gave the Treasury Department the green light to tap a $50 billion fund to insure money market mutual funds. The Federal Reserve announced it will expand its emergency lending program to protect the $2 trillion in fund assets. The Securities and Exchange Commission also on Friday banned short-selling of financial company stocks. The Stock Market rallied on Friday as well as overseas markets. Things may be improving, but will it last? What do you think? This week’s Question of the Week: Are you worried about the financial crisis? People can vote on The Herald’s Web site, oskaloosa.com, from Monday through noon on Friday. Then, votes will be tallied and published the following Monday. 
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