Wednesday, November 26, 2008

San Francisco Tagger Recognizes Financial Crisis


The controversial Emergency Economic Stabilization Act of 2008 - passing 74-25 in the Senate and signed into law by President George W. Bush on October 3 - allows the US government to purchase distressed bank assets to the tune of $700 billion. This move will allegedly stabilize the faltering economy and bail out Wall Street in the midst of a lingering financial and subprime mortgage crisis. Some economists believe this downturn represents the largest domestic financial calamity since the Great Depression. Its ill-effects have spread not only to Main Street, but to the global economy as well.

Mere inches above the pigeons, detritus, and homeless encampments scattered along Florida Street in San Francisco’s Mission District is a fresh political message questioning the legitimacy of such action by Washington.

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