The Collaspe of Wall Street and the Bail Out-
What does it mean-An Interview w/ Cedrick Muhammed

by Davey D

We sat down last week and chopped it up with one of our favorite political and financial analyst Cedrick Muhammed of Blackelectorate.com and Blackcoffeechannel.com. he loaned us some keen insight into the recent debate between Vice Presidential candidates Joe Biden and Sarah Palin as well as his breakdown on the recent Congressional bailout of Wall Street.

First, with the debate and presidential race, Cedrick still maintains that John McCain will win the presidency. He says that poll numbers that will bear him out and that Palin being added to the ticket is resulting in a lot more people coming out to support McCain. In other words Sarah Palin has given conservatives a good excuse to vote for McCain. Of note is her high numbers and favorable ratings among white males. Thats where her strength is.

Credrick noted that while its been great that Obama has inspired new voters, they are notoriously unreliable and at the end of the day may not show up to the polls to vote. He feels that GOP voters will ride alot harder for McCain than Obama and its something to take into account.

We also touched upon the subject of election protection and voter fraud. Cedrick noted that the GOP is famous for pulling off dirty tricks and causing confusion. He was especially concerned with the lack of information and follow through to the ex-felon population which overwhelmingly wants Obama to win, but don't have all the necessary understanding to go about restoring their voting rights. He talked about the low number of ex felons in the state of virginia who have had their voting rights restored over a 10 year period. He noted it was horrifically low.

Lastly Cedrick talked about the Hip Hop generation. he said while strong on the coasts and in a few states where Obama is winning, Hip Hop has not expanded to places where he's weak. It does no good to bring out a million new Hip Hop voters in New York where Obama is strong while attracting no one in nearby Virginia where higher numbers are needed.

With respect to the Wall Street collaspe and the Bail out scenario, Cedrick sees things getting much worse before better. he said ideally the banks would start loaning money to individuals and small businesses now that the US government has essentially brought their debt and put money on the books. He said because the banks were under capitalized in the first place, he can't see that happening and that basically many of these institutions got a free ride.

We talked at length about what does it mean with the government now taking over all these debts. Its one thing to owe a private business money vs the government. If I owe money to a place like Fanny Mac which was once private and is now owned by the government does that mean they can resort to putting on leans or garnishing my wages or use other means to get their money? If this country really falls into a financial crunch will the government resort to other schemes including debtor prisons or some sharecropping scheme that keeps me in perpetual financial servitude?

Cedrick pointed out that both McCain and Obama haven't been forthcoming about the 'financial tsunami' which is right around the corner which could lead to the cities and states unable to pay for basic services. The fact that California which was once the 7th largest economy in the world is now borrowing money is a bad sign of things to come.

Cedrick concluded by noting that all of us will have to get into the banking business and gain better understanding of how things work and our worth within it. He said that we may find that we have better financial leverage working with small banks versus the lareg mega banks which are falling apart and getting bailed out.

higher support and favorable ratings among white males Less