09-24-2008, 08:34 PM
This "crisis" should never have happened.
Lots of very smart people warned us that piling ever-escalating amounts of unproductive debt on top of more debt was a recipe for disaster.
And it was little over a year ago that both Paulson AND Bernanke were reassuring everybody that "subprime is contained" and "capital markets are strong."
Please tell me WTF has come out of these two in the intervening months that would indicate that they are to be believed or trusted NOW?
Either they were lying to us before, or they were not competent enough to see all the signs that the economy was crumbling all this time.
Neither of those prospects should inpsire confidence that any solution they come up with will work to the benefit the nation as a whole.
Lots of very smart people warned us that piling ever-escalating amounts of unproductive debt on top of more debt was a recipe for disaster.
And it was little over a year ago that both Paulson AND Bernanke were reassuring everybody that "subprime is contained" and "capital markets are strong."
Please tell me WTF has come out of these two in the intervening months that would indicate that they are to be believed or trusted NOW?
Either they were lying to us before, or they were not competent enough to see all the signs that the economy was crumbling all this time.
Neither of those prospects should inpsire confidence that any solution they come up with will work to the benefit the nation as a whole.