09-25-2008, 01:54 PM
g-man-
interesting post.
though there clearly is financial pain involved with this credit crisis, i find this bush presidency can only sell fear not ideals and/or ideas.
the selling of the 3 page $700 billion bailout feels so much like the rush to war in iraq. we have to do something, so we'll do...this...or that...no, this.
the crisis stemmed in many ways from over 20+ years of flawed thinking about financial deregulation. and now the thought is to make a "fix" in a weekend or a week.
previous treasury secretary o'neil has been talking about setting up a similar idea of backing the debt as the fdic backs depositors $100k. why hand out money when if u can backstop the risk, the credit will flow.
again, thanks for the post.
be well
rob
interesting post.
though there clearly is financial pain involved with this credit crisis, i find this bush presidency can only sell fear not ideals and/or ideas.
the selling of the 3 page $700 billion bailout feels so much like the rush to war in iraq. we have to do something, so we'll do...this...or that...no, this.
the crisis stemmed in many ways from over 20+ years of flawed thinking about financial deregulation. and now the thought is to make a "fix" in a weekend or a week.
previous treasury secretary o'neil has been talking about setting up a similar idea of backing the debt as the fdic backs depositors $100k. why hand out money when if u can backstop the risk, the credit will flow.
again, thanks for the post.
be well
rob