Sober Conclusions

After reading a good part of the Wall Street Journal and the NY Times, and absorbing the words of respected elders and pundits du jour, I’m thinking that the best and the brightest at the Treasury/Fed have made the initial major moves they felt were necessary to keep the financial system from imploding.

However, I’m not reassured that they have the deftness to make the relief hold long term. I also think there’s a good chance that they’ve created or exacerbated other problems that are lurking and growing closer.

The powers that be are clearly flying by the seats of their pants in uncharted territory.
President Paulson is the most powerful man in the world now.

There is reason to be scared, so if these proposed solutions have simply changed the nature of your uneasiness, I believe that your sanity and judgement are intact.


If the Fed and the Treasury are going to supercede the free market, and everything big is too big to fail, then short America, ignore the day to day gyrations, and pick up your profits in 7 years or so. Congress and Bush are utterly impotent failures. Bernanke and Paulson, representing both theoretical and hands on experience, are doing yeoman’s jobs buying time while temporarily selling out the U.S. citizen/taxpayer. They’re hoping that John and Jane Q. Public don’t notice their added burdens, while Ben and Hank bail water in the hope that the ship of state doesn’t capsize and sink before help arrives.

Oh, and they have no idea what form that help will take, or when or even if it’s coming.