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Citizen Voices Bloggers React to Economic Crisis & Prez Race

With the presidential election less than two months away, we'll check in with some KPBS Citizen Voices bloggers to get their reaction to the vice presidential picks, and how the economy may influence

Citizen Voices Bloggers React to Economic Crisis & Prez Race

Tom Fudge : This morning financial markets were higher, in response to a huge effort by central banks around the world to pump cash into credit markets. But today's small rebound was not nearly enough to correct the tremendous stock market plunge that occured this week. Between Monday and end of the day yesterday, the Dow Jones Industrial Averages lost 7 percent of its value. This came in reaction to news that the Federal Reserve would bailout insurance giant AIG with $85 billion in loans.

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Two weeks ago, the feds took over the ailing mortgage giants Fannie Mae and Freddie Mac, which were failing due to years of handing out questionable mortgages. By the way, the median home price in San Diego today is $350,000, down 26 percent from a year before.
 

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