I did not actually anticipate that it would get as bad as it did. It has gone beyond my wildest imagination.
And this in the not the bottom by a wide margin.
http://blogs.wsj.com/deals/2008/11/25/the-paulson-plan-truly-idiotic/
Democrats didn’t want anyone [economists] testifying because it was before an election and no one was willing to stand before that bulldozer known as Paulson. No one wanted to make tough political decision before the election. They didn’t empower any experts to come in and testify. Why is that? They were playing politics, too. That’s what we’re dealing with–a complete leadership failure in Congress and the administration.
Don’t underestimate the role of politics in the decision not to fix things.
We are from the government and here to help you. Famous last words.
2 comments:
The bailout is causing lenders to practically give away money. You would be surprised at how much cheap and in some cases "free" money is going around out there.
Bailouts for Everyone
Free paper is not free money :)
Short term all is well. Long term we looking more like a peso then a dollar.
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