Well it appears President Bush has finally caught on that something big is going on over on Wall Street. In a session today he stated, “The American people are concerned about the situation in our financial markets and our economy, and I share their concerns. I’ve canceled my travel today to stay in Washington, where I will continue to closely monitor the situation in our financial markets and consult with my economic advisors.“
So, he canceled some plans and will consult with the same people who got us into the mess in the first place and the same ones who have been entirely unable to admit there’s been a problem all along. That should help greatly shouldn’t it?
How about saying something like, “The economy is in the toilet and has been for some time so I’m firing everyone starting with Secretary Paulson on down.” Now that would impress the American people more than a canceled trip.
The other part of this that rubs me entirely the wrong way is that, once again, our government spits in the face of the idea of helping out its citizens but thinks of nothing to put $85 billion dollars out there to help AIG out of mismanagement. Why is it that mismanaged corporations with lobbyists can get help for incompetence but none of us can?
These people either need to believe in the free market or not believe in the free market. They can’t have it both ways.
Oh, and right now the idea of private savings accounts in place of Social Security sounds about as appealing as a spoiled milk cocktail.