> RoMunn wrote: > Fannie and Freddie are the cause of this mess. ::sigh::
No. There are many "causes", many aggregating factors, many people in a position to influence prior to crisis. But only one person in a position to control prior to crisis and that, of course, is the head of our executive branch, Pres Bush. But that was then. Now, we've got both the immediate problem AND the long term fix. As to the short-term problem Mr. Bush has outsourced leadership to Mr. Paulson who, while very competent, is also very politically deaf. His solution was a 3-page document that asked for $700B with no oversight. He further compounded this by fighting against the limit on executive compensation. In short, the proposal was crap and you can only do so much with crap. And that wasn't enough. (even though McCain suspended his campaign). So what's the problem? 1.) Confidence in the credit markets. While tossing money at this will help, it won't fix it, because, 2.) Continuing defaults. If you don't do something to solve the defaults your problem continues to fester. 3.) A growing problem on main street. For the last 5 years (really 14 if you follow Fortune) everyone has been acting rationally when the situation called for panic. And now everyone is panicking when situation calls for executive leadership. Unfortunately America twice elected someone who was predicatively not competent at that skill. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:271454 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
