Posted by
CWW on Wednesday, October 08, 2008 12:00:00 AM
Has anyone noticed that all of this financial mess is being run by children? Even the new rescue program will be run by a child - He is 35. Where are the adults? The people who have been through several financial messes, even the depression. These are the people we need at the helm right now. The people who would have just said NO at the first cry for bail-out help.
We are now in the gimmee stage of this situation. Every time the government puts more money on the table, the markets cry "It's Not Enough" It would have been ugly for some time but the best solution to this crisis would have been and it still may come to this - Let everyone that is in a bad position fall. Give the 800 billion to the FDIC and let it take down the failing banks. Other brokers and individuals that made bad bets on the market and now hold bad paper - Too bad, you should have done your due diligence To keep applying bandaids to the problem does nothing to heal the patient. All it does is insure more bad behavior. And we need to educate the Anerican public that they can not keep spending money over and above their income and not expect some level of pain. The same should be said for the governments at very level. We must as a nation return to the financial/economics of the 1950-60's. We must be able to bring cash to the table when making a major purchase. Not the full amount but a generous down payment.
Until we as a people and as a government begin to say NO and mean it, we will not cure this problem. Anything short of that solution will just delay the ultimate day of reckoning. And Please Please go find some adults and put them in charge!!