Serious challenges, and you present reasoned premises. Thank you.
It’s understandable that folks get emotional, but some on this thread are just kneejerk reactionaries .. hyperventilating, displaying extremely irrational and narrow thinking and profound BDS.
Casting all the blame on Pres. Bush is ludicrous and illogical. And it’s a global economy, with great financial overlaps, and extremely complex. All a bunch of dominoes.
Bush is the one who had a program on track to change the way Fannie Mae/Freddie Mac were monitored in 2003, due to the irregularities and coverups that were uncovered, and the DEMOCRATS voted it down. Those campaign contributions were too seductive.
I want to see Franklin Raines and Jaimie Gorelick in jail. They committed criminal fraud.
Barney Frank, Christopher Dodd, Obama, Skerry, all those Dims who insisted on the loosened guidelines and got hundreds of thousands of dollars from Fannie Mae/Freddie Mac, etc. .. boot them out. I don’t know how they sleep at night, especially Dodd.
As Chairman of the Banking Committee, he knows full well how loose the guidelines got in the sub-prime mortgage sector, because the Dims were pushing and pushing for them.
I believe the best possible minds are working on the issue. Getting the Dim congresscritters to wake up, heel, remove the veil from their eyes, act like grownups and actually participate in the solution might be the biggest challenge.
Paulson, Bernanke .. they know their stuff. You can trust that Pres. Bush has called in the most brilliant economic minds to work on this night and day. It’s going to be a very delicate process ... there’s so much reverberation thru all markets for every event, and such a symbiotic global economy.
God bless them with wisdom and clear thinking.
Whew, thank you STARWISE for your reasonable and thoughtful post! There’s so much I don’t understand about economics, but there’s so much info/disinformation bouncing around on here. It’s really hard to tell the difference.
It’s so good to see there are some people here and there sticking up for the Pres. and Republicans still! Uh, please keep it up! :)