Tuesday, September 30, 2008

It's All Political

Yesterday's market plunge was an overreaction to uncertainty. The market hates uncertainty. Here's my thoughts on the bailout. Its a flawed bill, but its a flawed system. Wall Street is flawed, and Washington is flawed. But we have to deal with what we've got, and we have to get out of this mess. So some version of the bill will be passed to shore up confidence. Do I think the bailout will make money for taxpayers? No. Washington politicians are experts at ripping off taxpayers, and they do most damage when people aren't paying attention. Now that their every move is scrutinized, we can see how poor they really are at accomplishing things. Hearing about Pelosi's political speech just before the vote made me sick. Of all the times to try and get a leg up in the election, that was not one of them. They don't get it, pure and simple. We all heard Harry Reid's "no one knows what to do" quote.

That's all this is is politics. Its too close to an election. Obama and McCain won't even talk about it for fear of alienating voters. That's not what a leader does. A leader puts his country's need first.

The Dems. could have easily passed this bill yesterday, as they have a majority, but were too afraid politically. If the bailout was a failure, they needed Republicans to be on board so there would be equal blame.

Quit the blame game. Quit the politics. Get something done for a change.

1 comment:

chris said...

Hi there,

I tried contacting you a while ago but never received a response, can you please email me at chris.hamilton @ boomerang.com.au so we can discuss my proposal?