Political Gamesmanship With The Future Of Our Country
The rhetoric in the clip below is typical of what goes on in Washington. This is a Democrat, but Republicans do it as well. It's about the show, not about what we need. In this case nobody actually knows what we need, but this crap certainly won't get us there, wherever it is that there actually is.
TARP Flashback
I went back to a
September 21, 2008 blog I wrote to see what it was that I was thinking at the time. This is about 6 months ago, 6 months into what they call "the worst economic crisis since the great depression." There is a new administration in place, a new Treasury Secretary, Tim Geithner, who had a big hand in creating this crisis or at least in exasperating it as the head of the New York Fed, and our economic future in the hands of politicians that I am afraid have no idea about what it is they are doing. Or more importantly, the potential dire ramifications of what they are doing. Or not doing?
As a concerned outsider it looks as though they are behind closed doors throwing darts at a board to figure out the next proposal with no real idea of the effect that it will have. The common stock of some major financial institutions like Citigroup and Bank of America may disappear, and the decision on the status of preferred stock and the whole capital structure of institutions receiving more TARP funds is anyones guess.
Unemployment and plummeting consumer confidence creates a feeling of despair. The Bank of England cut it's key rate 50 bp to 1%, and our rates are approaching zero. The employment numbers will be out by the time you read this, and there is no expectation for anything other than dismal numbers.
Thinks it's a problem? I found a website that seems to allow you to write a letter to any politician around the country. Check it out, and voice your concerns and let them know that they are playing a game with the future of the country, and so far have not been doing a very good job.
FreedomSpeaks.com
On the bright side, it's the weekend. Party on! Sphere: Related Content