Maybe you heard yesterday about several key developments in the financial world: Lehman Brothers (an investment banking firm for over 100 years) filed for bankruptcy, and Bank of America purchased Merrill Lynch (another investment banking firm). These events come on the heels of the federal government bailing out Fannie Mae and Freddie Mac just last week (two huge mortgage companies -- they hold the majority of mortgages for homes in the country). The feds essentially gave Fannie and Freddie (sounds like a couple from "Happy Days") a loan to make sure they could stay in business.
It's interesting to see how the federal government -- the authority in these perilous times -- reacts to this situation. In some instances they've bailed out companies and given help; in other instances they've let the ebb and flow of capitalism take its course and let companies go under.
Be on the watch for how people react to these perilous times. Look for how Americans see the government's role; look for how Americans deal with the financial pressures. Maybe we'll even see some Puritanical reactions?
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